XRP has been placed on a critical technical support line test. While major assets in the cryptocurrency market show mixed trends, XRP is facing its last line of defense at the 200-day exponential moving average.
Currently trading at $2.16, XRP has successfully rebounded during the day at the 200-day moving average, but downward pressure still exists. Concerns are raised that if this support line breaks, it could sharply decline to around $1.
Shiba Inu (SHIB) has further intensified its weak trend as its major support line at $0.00001300 collapsed. Currently trading at $0.00001230, it is below the 50-day, 100-day, and 200-day moving averages, showing clear technical weakness.
Meanwhile, Bitcoin (BTC) has found stability around $104,000 after a sharp decline from $112,000. It has opened up the possibility of a short-term recovery by showing a strong rebound near the 50-day moving average.
Experts predict that "if Bitcoin maintains the $100,000 level and breaks through the 26-day moving average, a quick rebound to the $107,000-$108,000 range is possible".
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