The recent price surge of Bitcoin has led to new records in the cryptocurrency market. Amidst this, other altcoins like XRP and SHIB are facing their own struggles within a volatile market.
Bitcoin Sets Records
Bitcoin's price currently exceeds $122,000, a result of rapid growth after successfully breaking through all significant resistance levels. With no technical barriers remaining, the next psychological target for Bitcoin is $150,000. Increased trading volumes and a rising bullish trend support the current movement.
XRP on the Verge of Correction
XRP is close to the $3 mark, but its rise is accompanied by a high relative strength index (RSI), which may indicate overheating in the market. If XRP fails to break this level, a correction back toward the $2.40-$2.60 range is likely, especially given the decreasing trading volumes.
SHIB Lacks Momentum
Despite Bitcoin's recent growth, Shiba Inu has struggled to break the resistance at $0.00001450. This indicates that investor interest in this coin remains low. The lack of support from larger cryptocurrencies also makes it difficult for SHIB to rise.
Thus, while Bitcoin continues to lead the market, alternative cryptocurrencies like XRP and SHIB face various challenges. Monitoring their dynamics will be prudent for understanding the overall sentiment in the crypto market.
