Recent data shows a significant decrease in XRP network payment volumes, negatively impacting its price. This raises investor doubts and questions the asset's ability to grow dynamically.
XRP Struggles in the Market
Following attempts to breach significant resistance levels, XRP has struggled to maintain its upward trajectory. The asset remains around $2.32 without benefiting from the broader market recovery. The 50-day and 100-day moving averages, acting as resistant zones, add extra pressure, hindering price recovery. The critical issue in XRP's slow recovery is a sharp decline in on-chain payment volume, recorded as a 730 million XRP drop. This raises concerns about the network's health.
Bitcoin's Price Growth Issues
Bitcoin's recent price volatility makes it challenging for the asset to hold above $90,000. Despite a historical uptrend, declining trading volume suggests reduced activity from both institutional and retail investors. If $92,500 resistance levels are not breached, BTC might face further declines toward $85,000.
Shiba Inu on the Verge of Breakout
Shiba Inu is exhibiting upward momentum, attempting to break through the significant resistance level at $0.000013. Increased trading volume and a series of higher lows suggest a potential breakout following prolonged consolidation. If SHIB clears this level with substantial volume, it could reach the next resistance levels at $0.000016 and $0.000018.
While XRP and Bitcoin face hurdles in their recovery paths, Shiba Inu shows potential for a breakout. However, investors should be cautious, weighing possible risks and a return to downward trends.
