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Wealth Manager Shorts XRP says If You’re Still Holding XRP, You Should Be Worried

Abdulkarim Abdulwahab
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Wealth Manager Shorts XRP says If You’re Still Holding XRP, You Should Be Worried

Widely followed crypto trader Wealth Manager (@Wealthmanager on X) has sparked fresh concern in the XRP community by publicly announcing a bearish position on the asset.

This comes as the price of XRP continues to revisit new lows last seen in 2024. Specifically, XRP has dipped 14.22% today, touching $1.30. The last time XRP traded at this level was in November 2024.

Key Points

  • XRP plunges over 14% in a single day, revisiting price levels last seen in November 2024.

  • Popular trader Wealth Manager warns holders and opens a $50K short position on XRP.

  • Technical charts suggest XRP could drop further toward the $0.50 range if support breaks.

  • Analysts see new accumulation zones forming but caution that downside risk remains high.

Holding XRP? “You Should Be Worried”

In a recent post, trader @Wealthmanager warned XRP holders, stating that anyone still holding the token “should be worried.”

The comment gained traction as XRP continues to struggle below key price levels following a market-wide pullback. Notably, Bitcoin has dipped more than 8.5% today to $69,555, dragging the broader crypto market lower.

XRP is among the largest-cap assets posting the steepest losses, down roughly 14% today alone and extending its weekly decline to 27%. Meanwhile, some market analysts believe the worst may still lie ahead, even though XRP is already down over 61% from its 2025 peak.

XRP charts
XRP charts

Wealth Manager Confirms Active XRP Short Position

Shortly after issuing the warning, Wealth Manager confirmed that he has opened a short position on XRP, adding that he expects the price to revisit the $1 level.

To support the claim, he shared a screenshot of his perpetual futures position showing:

  • Position size: 100,000 XRP
  • Margin: approximately $50,733 USDT
  • Entry price: $1.522
  • Market price at the time: around $1.508
  • Unrealized profit: over $1,300
  • Leverage: 3×

The trade signals a strong conviction that XRP’s current market structure remains weak as the price continues to trend lower from recent highs.

Chart Points to Deeper Downside Risk

The chart shared by the trader highlights XRP’s reversal from its peak near $3.66. From that level, XRP has already recorded a sharp decline, with the chart projecting the possibility of further downside if key support levels fail.

Based on the technical setup, the highlighted move suggests a potential drop of more than 60% from current levels. This places XRP’s price in the $0.47–$0.50 range.

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While XRP still maintains strong community support and long-term adoption prospects, short-term sentiment is turning cautious. A public short position from a well-followed trader has added to market uncertainty.

New Accumulation Zones for XRP

Notably, this bearish outlook is shared by other market participants. Analyst Crypto Patel says XRP has entered its first accumulation zone between $1.50 and $1.30—an area that has historically attracted buyers. He advises slow, gradual accumulation rather than rushing in, noting that market bottoms often take time to form.

If XRP falls below $1.30, Patel believes a deeper decline toward the $0.90–$0.70 range could present an even better long-term opportunity.

Despite the near-term weakness, Patel still sees XRP reaching double-digit prices over the long term, with a potential move toward $10 once the bearish phase fully plays out. He argues that buying during deep pullbacks offers a better risk-reward profile than chasing prices near market highs.

XRP Descending Triangle Breakout Could Lead to 111%-432% Spike Against Bitcoin

Mark Brennan
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XRP Descending Triangle Breakout Could Lead to 111%-432% Spike Against Bitcoin

An XRP breakout from a multi-month descending triangle on the monthly chart could lead to a surge against Bitcoin.

Notably, XRP continues to lag behind Bitcoin as the crypto market remains under pressure amid the downturn that began in the fourth quarter of 2025. The sustained weakness has pushed the XRP/BTC pair lower, with XRP suffering a relative disadvantage.

Despite the ongoing decline, market conditions suggest XRP may be approaching a decisive moment against Bitcoin. Its price action now moves closer to the apex of a multi-month descending triangle. This leaves room for a sharp move that could lead to a rebound.

Key Points

  • The XRP/BTC pair has trended lower since January 2025 after peaking at 0.00003415 BTC, a period that coincided with XRP’s $3.4 rally.
  • XRP has remained in a descending triangle on the monthly chart, with the lower horizontal support holding at 0.00001929 BTC as the price trades around 0.00001960 BTC.
  • Historical behavior shows XRP often moves 2-3x more aggressively than Bitcoin during bullish phases, increasing its upside potential during recoveries.
  • A bullish breakout could push XRP up by about 111% to 0.00004132 BTC, implying a $4.132 price if Bitcoin trades at $100,000.
  • Also, a stronger rally could extend gains by roughly 432% to 0.00010706 BTC, which would place XRP near $10.7 at a $100,000 Bitcoin price.
  • Meanwhile, a breakdown below the triangle support could send the XRP/BTC pair down to 0.00001236.

XRP Often Rallies More Sharply Than Bitcoin

Market analyst Celal Küçüker discussed this in a recent commentary, noting that the XRP/BTC pair stands out. Küçüker highlighted that XRP has a historical tendency to move more aggressively than Bitcoin during bullish phases. 

According to him, when Bitcoin rises, XRP often responds with gains that are 2-3x stronger. Based on this pattern, he presented a scenario in which Bitcoin eventually climbs to $180,000. In this scenario, he believes XRP could technically deliver an 11x to 12x move from current levels.

Küçüker also discussed an alternative outcome that does not depend on a major Bitcoin rally. With this, XRP could surge sharply while Bitcoin barely moves. He noted that such a move could allow XRP to increase its relative value against Bitcoin by 5-6x. 

While he suggested that the chart was compelling, the market analyst admitted that market conditions remain weak and unpredictable, confirming that his analysis only shows his observation.

XRP Enters Descending Triangle Against Bitcoin

Meanwhile, data from Küçüker’s chart provides historical context for XRP’s position against Bitcoin. The chart shows that the XRP/BTC pair has traded inside a descending triangle on the 1-month timeframe since peaking at 0.00003415 BTC in January 2025. 

Notably, this peak coincided with XRP’s rally to $3.4 during the same month, a period when the broader crypto market, including Bitcoin, recorded a much milder rise.

XRP 1M Chart Against Bitcoin
XRP 1M Chart Against Bitcoin

After that January 2025 high, XRP steadily lost ground against Bitcoin. The downtrend strengthened during the market-wide decline that began in Q4 2025, leading to deeper losses for XRP and a sustained slide in the XRP/BTC pair. 

However, despite the persistent pressure, the chart shows that the lower boundary of the descending triangle has continued to hold and remains a key support level.

Upside and Downside Targets

According to the chart, the horizontal support line of the descending triangle currently sits at 0.00001929 BTC. XRP trades just above that level at 0.00001960 BTC, indicating that support still holds. The chart also shows XRP moving closer to the apex of the descending triangle, an area where sharp moves may occur.

If an upward breakout develops, Küçüker’s chart projects a potential 111% rally that could lift XRP to 0.00004132 BTC, a level last seen in November 2020. At a Bitcoin price of $100,000, that move would place XRP at $4.132. 

The chart also presents a bigger target, showing a possible 432% surge to 0.00010706 BTC. At the same Bitcoin price of $100,000, XRP would reach approximately $10.7 if the XRP/BTC pair reaches 0.00010706.

The chart also reveals a downside risk. Notably, if the XRP/BTC pair breaks below the horizontal support of the descending triangle, the chart points to a potential drop to 0.00001236 BTC. For context, XRP last traded at that level in November 2024.

XRP Earns Rare Praise From Former CFTC Chair: Details

Lele Jima
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XRP Earns Rare Praise From Former CFTC Chair: Details

Former CFTC Chair Chris Giancarlo has publicly praised XRP, describing it as a rare example of resilience amid intense regulatory hostility. 

XRP’s resilience amid intense regulatory scrutiny was highlighted yesterday, after former CFTC Chair Chris Giancarlo detailed how the token persevered, while also showing respect for its survival.

Key Points

  • Former CFTC Chair Chris Giancarlo publicly praised XRP for its resilience amid intense regulatory scrutiny.
  • He specifically referenced the Gensler-Warren era as a period of heightened hostility toward XRP.
  • Giancarlo expects banks to accelerate blockchain adoption once regulatory clarity improves.
  • He emphasized that finance’s future will be multi-chain, not dominated by Ethereum, XRP, or any single chain.

“XRP Persevered Despite Being the Poster Child of an Aggressive Regulatory Approach”

In a recent interview, Giancarlo acknowledged XRP’s ability to remain operational and relevant despite heavy U.S. regulatory scrutiny. He noted that the token became the “poster child” of the aggressive regulatory approach championed by figures like former SEC Chair Gary Gensler and Senator Elizabeth Warren.

Despite the pressure, XRP endured, prompting Giancarlo to urge observers to “tip their hats to the token” in respect.

Notably, XRP’s resilience in the U.S. was evident during the SEC v. Ripple lawsuit. The case, which began in December 2020, concluded in August 2025 following a settlement between the parties.

Many viewed the lawsuit as an existential threat to XRP’s viability in the U.S. However, backed by a strong community, the token survived the nearly five-year legal battle and remained fully operational throughout, earning Giancarlo’s public recognition for its perseverance.

More Banks to Embrace Blockchain as Regulatory Clarity Emerges

Meanwhile, Giancarlo said banks will accelerate their adoption of blockchain once regulatory clarity improves. Banks are already turning to blockchain for faster cross-border payments, lower costs, and stronger security.  Use cases include smart contracts, real-time settlement, digital identity, and asset tokenization.

Notably, Goldman Sachs, BNP Paribas, and Deutsche Börse partnered on an initiative that led to the launch of the Canton blockchain. The platform focuses on institutional finance and the tokenization of real-world assets.

Despite this progress, Giancarlo believes broader adoption has stalled, especially in the U.S., due to regulatory uncertainty. He argues that once clear rules emerge, institutions will have little choice but to modernize and adopt blockchain architectures, whether via the XRP Ledger or other blockchain systems. In his view, the future of finance will be multi-chain, not dominated by a single blockchain like Canton, Ethereum, or XRPL alone.

For now, the industry awaits comprehensive crypto legislation through the Clarity Act. Its progress in the Senate remains stalled due to disagreements over certain provisions. However, White House Crypto Adviser Patrick Witt recently voiced confidence that lawmakers will resolve outstanding issues and move the bill forward.

Strategy Inc. Faces $3.8 Billion Paper Loss as Bitcoin Slides Below $71K

Zabi
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Strategy Inc. Faces $3.8 Billion Paper Loss as Bitcoin Slides Below $71K

Strategy Inc., the world’s largest corporate Bitcoin holder, is sitting on about $3.8 billion in unrealized losses after a market rout dragged BTC below $71,000.

Key Points

  • Strategy’s massive Bitcoin bet has swung from nearly $33 billion in peak gains to multibillion-dollar losses in just four months.
  • Bitcoin’s 2026 decline has pushed prices back to levels last seen around the 2024 U.S. election.
  • MSTR shares have fallen more than 70% from their 2025 peak amid weakening Bitcoin prices.
  • Despite mounting losses, Executive Chairman Michael Saylor remains committed to a long-term Bitcoin strategy.
  • Market observers warn that further declines in Bitcoin could intensify financial stress for Strategy and other institutional holders.

Bitcoin Decline Reshapes Strategy’s Balance Sheet

Bitcoin’s latest slide has taken prices back to levels last seen around the 2024 U.S. election, according to TradingView data. The cryptocurrency is down about 19% so far in 2026, amid market weakness.

For Strategy, the impact is increasingly visible on its balance sheet. The company holds 713,502 Bitcoins, acquired at an average price of $76,052 per coin, representing a total investment of approximately $54.3 billion.

However, at recent prices near $70,827, those holdings are now valued at about $50.53 billion. This leaves the firm with more than $3.7 billion in unrealized losses.

Meanwhile, just months ago in October, Strategy’s Bitcoin position showed peak paper gains approaching $33 billion. In roughly four months, those gains have flipped into multibillion-dollar losses, underscoring the scale of crypto market volatility.

Share Price Weakens as Pressure Builds

As Bitcoin prices declined, Strategy’s stock came under renewed strain. Shares of MSTR closed down 3% on Wednesday at $129 and continued to slide in after-hours trading. The stock now sits more than 70% below its July 2025 peak and is down about 18% year to date.

Despite the mounting pressure, the company’s leadership has shown little inclination to change course. Executive Chairman Michael Saylor has continued to defend Strategy’s long-term Bitcoin strategy, despite paper losses and a falling share price.

In a recent post on X, Saylor reiterated his long-held belief that Bitcoin is an asset to buy and hold, not trade. He has consistently framed volatility as an inherent feature of Bitcoin rather than a reason to exit positions.

That stance remains intact as Strategy approaches its fourth-quarter earnings report and faces increased scrutiny over the debt used to finance its Bitcoin acquisitions. Saylor has maintained that short-term price fluctuations do not undermine the company’s long-term conviction.

Broader Warnings Emerge From Market Observers

While Strategy remains steadfast, concerns are growing among market observers about the broader implications of declining Bitcoin prices.

For context, as reported earlier by The Crypto Basic, Michael Burry, a renowned investor and hedge fund manager, has warned that a prolonged downturn could trigger wider financial stress, arguing that recent price action challenges Bitcoin’s reputation as a defensive asset during periods of uncertainty.

Burry has highlighted specific price levels where downside pressure could intensify. Specifically, he has suggested that sustained trading below $70,000 could result in substantial losses for large institutional holders. In particular, Burry identified Strategy as being especially exposed.

Under such conditions, Burry estimates Strategy’s losses could exceed $4 billion, potentially constraining its access to capital markets. Beyond Strategy, he has warned that other institutions could face losses of 15% to 20% on their Bitcoin holdings—declines that could prompt tighter risk controls across the financial system.

Finally, he has also cautioned that a further drop toward $60,000 could pose an existential challenge for Strategy, given the scale of its exposure.

A Great Major Shiba Inu Pump from Weekly Support Is Ahead: Analyst

Elendu Benedict
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A Great Major Shiba Inu Pump from Weekly Support Is Ahead: Analyst

Shiba Inu is holding above a weekly support zone nicely and could recover from here if the current selling pressure subsides.

Notably, recent negative price trends have brought Shiba Inu to this key support zone. The token is down nearly 5% in the past 24 hours, as meme coins suffer severe price setbacks amid the broader market drop.

Key Points

  • Shiba Inu is holding above a weekly support zone nicely and could recover from here if the current selling pressure subsides.
  • While other cryptocurrencies like Bitcoin and Ethereum made new lows, the meme coin has held above its January 31 bottom of $0.00000616.
  • This trend suggests price consolidation around a key support area at $0.0000060.
  • If Shiba Inu continues to hold current support and selling pressure subsides, a bullish reversal could occur.

Shiba Inu at Significant Weekly Support

Today, SHIB dropped to a low of $0.00000640, keeping it on track for its third successive downtrend day. While other cryptocurrencies like Bitcoin and Ethereum made new lows, the meme coin has not broken below its January 31 bottom of $0.00000616.

This trend suggests price consolidation around a key support area at $0.0000060, which aligns with a recent analysis from MMBTrader. The commentator noted that SHIB has held its ground around this significant support area despite heavy selling pressure. According to him, this is positive for the token, as it shows potential accumulation.

Notably, data backs this accumulation theory. Specifically, exchange reserves have dropped slightly in the past 24 hours, as whales move SHIB away from trading platforms to self-custody wallets. A negative exchange inflow also confirms this, indicating that withdrawals overshadowed deposits in major platforms.

What Does This Mean for Shiba Inu

MMBTrader remained positive about what could develop for Shiba Inu if it continues to hold this weekly support. Specifically, he noted that a bullish reversal could occur for the token, initiating a “meaningful upward move.”

Further, he noted that the consolidation structure suggests an initial target of up to 100% from the support area. A twofold increase would take SHIB past the $0.000010 mark, reaching his target of $0.00001325, according to an accompanying chart.

Shiba Inu Holds Support/MMBTrader
Shiba Inu Holds Support/MMBTrader

The analyst’s chart also highlighted great Shiba Inu weekly pumps if bullish momentum is sustained. Some of his targets are a 368% rise from the support level to $0.0000336, a 666% increase to $0.0000548, and, subsequently, a 1,016% surge to $0.0000730.

Confirmations and Key Caveat

Meanwhile, the analyst noted that this move would only be possible if the current sell-off subsides and the support holds. While bulls have shown accumulation intent in the past 24 hours, sustaining this trend would be crucial to keeping SHIB the needed boost.

Bitcoin also needs to stay stable. The crypto leader printed new lows today, falling below $70,000 for the first time in over a year. If price weakness endures, it would only be a matter of time before Shiba Inu follows suit.

Ethereum Price Outlook for Feb 5: Here’s Main Barrier for ETH as Active Addresses Hit ATH

Mark Brennan
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Ethereum Price Outlook for Feb 5: Here’s Main Barrier for ETH as Active Addresses Hit ATH

Ethereum faces resistance near key levels, but the surge in active addresses signals growing network engagement and potential for recovery.

Ethereum (ETH) is experiencing further volatility, as seen in the recent price movements. Trading at $2,113, the largest altcoin by market cap has faced a sharp decline, dropping 6.99% in the last 24 hours. 

ETH’s price has fluctuated between $2,110 and $2,230 in the past 24 hours. The token is notably down 29.67% over the past 7 days and 36.17% over the last 90 days. Year-to-date, ETH has shed 28.74%, signaling a persistent downtrend.

Looking at the long/short ratios, Ethereum shows a slight bullish sentiment, with a ratio of 2.76 on Binance ETH/USDT accounts. The recent performance is marked by continuous pressure from resistance levels, as Ethereum remains below key price points. Can Ethereum hold support and break key resistance zones?

Can Ethereum Hold Key Support Levels?

On technical charts, the price is currently testing key support around $2,060–$2,080, where it has seen recent buying interest. A drop below this range could signal further downside, with the next level of support around $2,025–$2,050, seen last in March 2025.

Ethereum Price Analysis
Ethereum Price Analysis

On the resistance front, Ethereum faces immediate barriers at the $2,170–$2,180 zone, aligning with the 9-period simple moving average. A breakout above this level would likely target higher resistance near $2,250–$2,300, where bears have recently sold.

Elsewhere, the standard deviation indicator stands at 84.63, indicating elevated volatility and wider price swings. However, a recovery may require Ethereum to break above the 9-SMA and show reduced volatility to confirm a shift in market sentiment.

Ethereum Active Addresses at ATH?

While ETH price faces pressure, fundamentals continue to improve. According to a self-acclaimed “Ethereum narrator,” Joseph Young, ETH’s active addresses have reached an all-time high, signaling increasing usage and network activity. 

Ethereum Active Addresses
Ethereum Active Addresses

This uptick in active addresses highlights growing engagement within the Ethereum ecosystem, providing a strong foundation for the network’s long-term potential. Typically, when the number of active addresses surge, it often leads to higher transaction volumes, greater demand, and more use cases. Such an environment typically supports higher prices.

Analyst Points to New Levels to Start Buying XRP as XRP Now Down 61% From Peak

Abdulkarim Abdulwahab
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Analyst Points to New Levels to Start Buying XRP as XRP Now Down 61% From Peak

XRP has retraced significantly from its cycle high, falling about 61% from the $3.66 peak as bearish forces take hold of the crypto market. 

While the pullback has shaken sentiment, some analysts view the decline as a potential long-term opportunity rather than a breakdown.

Notably, XRP dipped to $1.40 over the past day and has yet to recover, trading at $1.42 at press time.

Key Points

  • XRP is down 61% from its $3.66 peak, trading at $1.42 amid market bearishness.

  • Analyst Patel sees XRP in the first accumulation zone between $1.50–$1.30.

  • A drop below $1.30 could open a “maximum opportunity” zone at $0.90–$0.70.

  • Long-term target remains $10, with potential upside like the previous 600% rally.

XRP Enters First Accumulation Range

Technical analyst Crypto Patel says the current structure closely resembles previous accumulation phases that preceded major XRP rallies.

According to Patel, XRP has now entered a first accumulation zone between $1.50 and $1.30 on the XRP/USDT chart. He notes that this area aligns with prior support levels and a fair-value gap that historically has attracted buyers during market resets.

Currently trading at $1.42, XRP sits within Patel’s first accumulation range. However, he does not recommend aggressive entries at this level. Instead, he suggests gradual accumulation as strong retracements often take time to form durable bottoms.

Deeper Pullback Could Open Larger Opportunity

Patel also outlines a secondary scenario if selling pressure continues. A breakdown below $1.30 could push XRP’s price into a lower demand zone between $0.90 and $0.70, which he describes as a potential “maximum opportunity” for long-term positioning.

From a technical standpoint, this lower range overlaps with a previous accumulation zone that served as a launchpad for strong upside moves during past market cycles.

Image

The High Price XRP Could Target After a Breakout

Despite the near-term correction, Patel maintains a long-term price target for XRP in the double-digit range. He argues that XRP could bounce to $10 after the bearish trend fully plays out.

He says buying during deep dips offers better risk-reward than chasing prices near highs. “If the long-term target is $10, entries around $1.50 to $1 during hard dips provide much larger upside potential,” he explained.

Analyst Points to Prior 600% XRP Rally

Patel also referenced his previous XRP call during the last bear market, when he highlighted an accumulation zone near $0.50. Following that setup, XRP eventually rallied to $3.66, delivering gains of over 600%.

Ultimately, with XRP trying to stabilize after a major drawdown, he believes patience will be key, as new buyers could face more dips before the next explosive uptrend, similar to the one seen from November 2024 to January 2025.

What Other Analysts Say: “It’s a Process”

Technical analyst The Great Martis says XRP’s ongoing decline could continue until it reaches $0.50—a drop of 83% from its peak. “It’s a process; let it process,” he said, stressing that the current phase is corrective following the explosive pump in 2024–2025.

On the other hand, CryptoBull sees a prolonged accumulation phase leading to $11 first and potentially as high as $70 over the years if historical patterns repeat.

Bitcoin Prediction for Feb 5: BTC Faces Resistance at Supertrend Level as Analyst Eyes Next Target at $57,600

Mark Brennan
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Bitcoin Prediction for Feb 5: BTC Faces Resistance at Supertrend Level as Analyst Eyes Next Target at $57,600

Bitcoin faces resistance at the Supertrend level, with analysts suggesting a potential decline toward the 200-week SMA.

Bitcoin (BTC) continues to show volatility, experiencing a notable 6.7% decline in the past 24 hours. As of the most recent data, Bitcoin is trading around $71,206, with fluctuations between $70,119 and $76,472.

Over the past 30 days, Bitcoin’s performance has seen a decrease of 23.9%, further compounded by a 19.2% drop over the last week. Despite the short-term setbacks, Bitcoin remains the leader of the crypto market, with a 24-hour trading volume of $83 billion, up over 21% today.

Although the current market conditions have shown a downturn, Bitcoin’s long-term outlook remains a key factor in its market dominance. Will this price action indicate a long-term trend reversal, or is it another pullback in the anticipated super cycle?

Will Bitcoin Recover?

Notably, Bitcoin’s current price action is testing key support near $71,000, with the Supertrend indicator acting as immediate resistance at around $76,206.22. The price has been under pressure, and the Supertrend remains in the red zone, suggesting a bearish sentiment. If Bitcoin fails to hold the support near $71,162.68, it could see further downside, targeting $70,000, and potentially $67,500 as the next support level.

Bitcoin 4-Hour Chart
Bitcoin 4-Hour Chart

The immediate resistance, marked by the Supertrend, continues to limit Bitcoin’s ability to make significant upward movements. A breakout above this level would be necessary for any bullish reversal to gain momentum. If Bitcoin manages to clear this resistance, the next resistance zone would be between $77,500 and $80,000, where previous rejections have occurred.

Additionally, the RSI at 22.85 is signaling deep oversold conditions, which is a sign of a potential reversal. However, a reversal will occur only if the RSI begins to rise and crosses above the 30 level. Nonetheless, this would need to align with the price breaking through the immediate Supertrend resistance.

Further Declines Incoming?

Elsewhere, expert analyst Ali Martinez believes further decline could be incoming. Martinez highlighted a concerning trend for Bitcoin, pointing out that whenever the crypto has dropped below the 100-week Simple Moving Average, it has failed to reclaim it quickly and instead continued to fall toward the 200-week SMA.

BTC Prediction
BTC Prediction

Historically, Bitcoin’s price fell by 55.25% in 2015, 45.50% in 2018, 46.78% in 2020, and 57.95% in 2022 after losing the 100-week SMA. Martinez suggests that Bitcoin may be on a similar path, potentially heading toward the 200-week SMA if it cannot regain support above the 100-week SMA. Martinez’s chart pointed out that Bitcoin’s next target could be around the 200-week SMA, which currently sits at approximately $57,600.

What’s Next For Price as XRP Weekly RSI Approaches Historical Bottom

Elendu Benedict
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What’s Next For Price as XRP Weekly RSI Approaches Historical Bottom

The XRP weekly RSI is approaching a level that has historically marked a price bottom, birthing the narrative of a possible recovery.

Interestingly, this indicator has marked the end of the downward price trend in some of the weakest moments in the history of XRP. If history repeats, the ongoing correction could be in its final stages.

Key Points

  • The XRP weekly RSI is approaching a level that has historically marked a price bottom, birthing the narrative of a possible recovery.
  • Specifically, the 30-32 RSI levels have marked price bottoms on several occasions in the past for the asset.
  • The weekly RSI currently stands at 31.51, within the range that historically confirmed the bottom.
  • If history repeats, XRP will soon end its downtrend and begin a recovery.

XRP Price and the Weekly RSI

Analyst “Kripto Messi” drew the XRP community’s attention to this positive development. He highlighted that the 30-32 RSI levels have marked price bottoms on several occasions in the past for XRP. According to him, reaching these areas could be the confirmation that XRP is bottoming.

An accompanying chart provides further context. It highlights four scenarios in which XRP rebounded from price lows when the weekly RSI reached between 30 and 32.

XRP RSI Historical Dip to Bottom/Kripto Messi
XRP RSI Historical Dip to Bottom/Kripto Messi

For context, XRP’s weekly RSI approached this level on the week of June 30, 2014, when the price dropped to $0.0028. This marked its lowest-ever recorded price, after which the token recovered to higher levels.

The same happened on the week of November 16, 2015, when the RSI reached 33.91. XRP also bounced from its lows of $0.0041 to greater heights. During the week of March 9, 2020, the weekly RSI also dropped to 33.1, with XRP also bottoming at $0.104.

Meanwhile, the last occurrence was in mid-June 2022, when XRP dropped to $0.287. The dip coincided with the weekly RSI decline into oversold territory at 28.12 and marked the asset’s bottom to date.

Weekly RSI Approaching Lows

The weekly RSI currently stands at 31.51, within the range that the analyst said confirmed the bottom.  As such, he remains optimistic that XRP will soon end its downtrend and begin a recovery.

The market commentator specifically claimed that XRP is in its final week of downtrend and an impulsive rally could start as early as next week. However, this remains his opinion, and there is no guarantee of its certainty.

In the meantime, other indicators, such as the weekly MACD, remain very bearish. The red bars are lengthening again, and the MACD line has not crossed the signal line.

XRP MACD Indicator
XRP MACD Indicator

Unless more indicators turn positive, the RSI alone cannot spark a price recovery for XRP. This means the recent downturn might drag on, possibly pushing the coin to newer lows.

Shiba Inu Price Analysis for Feb 5: Where Next for SHIB as it Tests Lower Bollinger Band Support?

Mark Brennan
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Shiba Inu Price Analysis for Feb 5: Where Next for SHIB as it Tests Lower Bollinger Band Support?

Shiba Inu tests critical lower Bollinger Band support as liquidations rise, with bearish momentum continuing and resistance near the upper band.

The Shiba Inu (SHIB) market has been facing increased pressure, registering a 4.3% loss in the past 24 hours. The price has been fluctuating within a range between $0.00000647 and $0.00000681, but the recent trend shows a clear decline, with SHIB close to $0.0000065.

Despite the drop, the memecoin maintains a market cap of $3.81 billion and a solid 24-hour trading volume of $188.28 million. However, over the past 14 days, Shiba Inu has witnessed an 18.8% decline, signaling consistent weakness in its price action.

This downturn also shows in the overall Shiba Inu performance, which has seen a significant drop of 30.4% over the past 30 days. As Shiba Inu sits around its lower support levels, the market will need to closely monitor for any signs of stabilization or possible recovery. Where Next?

What’s Next for Shiba Inu

Shiba Inu is currently testing its lower Bollinger Band, which sits at approximately $0.000006301. This level has recently prevented downward moves, hence a critical support zone. If SHIB fails to maintain its position above this level, there is a risk of further downside, with the next key support target potentially around $0.0000058 or even lower.

SHIBUSD Prediction
SHIBUSD Prediction

On the resistance side, SHIB is facing significant pressure around the upper Bollinger Band, which sits at $0.000008636. This level has previously capped price movements and is considered a strong barrier to further upward momentum. A breakout above this resistance would be a key signal for a possible trend reversal and a move toward more favorable price levels, such as the $0.00001 mark, where further liquidity exists.

The True Strength Index indicator currently shows a persistent bearish trend, with the blue line sitting below the red line, signaling sustained selling pressure. The TSI is currently at -27.43, indicating a drop in positive momentum. Notably, a flip of the blue line above the red line would be necessary to signal a potential recovery. 

Shiba Inu Liquidation Data

Over the past 24 hours, Shiba Inu saw $135.97K in total liquidations, with $120.24K from long positions and $15.74K from short positions. In the last 12 hours, $55.84K was liquidated, with $45.79K from long positions and $10.05K from short positions.

SHIB Liquidations
SHIB Liquidations

Within the last 4 hours, Shiba Inu experienced $34.26K in liquidations, with $31.04K from long positions and $3.21K from shorts. The 1-hour data shows $4.21K in liquidations, with $4.19K from long positions and $20.26 from short positions.

The numbers suggest that there is strong participation in long positions, with a relatively low number of short liquidations compared to long ones.

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