XRP, Shiba Inu, Tezos Price Analysis: 25 April
With market leaders, Bitcoin and Ethereum, falling below key price points, the global crypto market cap witnessed a corresponding 24-hour plunge. Thus, XRP, Shiba Inu and Tezos projected a near-term bearish outlook while their 4-hour RSIs headed into the oversold part.
Source: TradingView, XRP/USDT
Despite the buyers attempting to counter the recent sell-offs, the bears have swooped in to push prices to deeper lows.
The descent initiated at the 38.2% Fibonacci resistance propelled a 12.24% plummet in just three days. Thus, after falling below its 20/50/200 EMA, XRP plunged to touch its one-month low on 25 April. From here on, the $0.7 zone would likely shun immediate recovery endeavors.
At press time, XRP traded at $0.6733. The Relative Strength Index took a significant drop toward the 20-mark base while heading right into the oversold region. A revival from this mark is plausible in the coming times. Also, the CMF undertook a bullish divergence with price over the last day. Thus, a near-term retrieval might be lurking around the corner.
Source: TradingView, SHIB/USD
Kindly note that SHIB price is multiplied by 1000, for brevity.
On its upswing after breaking out of its previous falling wedge (yellow), SHIB buyers endeavored to drift the viewpoint in their favor, but the bears upheld the two-month trendline resistance (white, dashed).
Over the last 12 days, the meme token saw an over 23% loss that seems to slow down at the lower trendline of the falling wedge (white). As a result, SHIB fell below its 20 EMA (red) while it steeply looked south.
At press time, SHIB traded at $0.02314. Over the last few days, the RSI hovered in the oversold territory and highlighted a seller’s market. Further, with the diverging upper and lower band
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