Shiba Inu price confirms last week’s bullish trade setups. Investors should take a more moderate approach for the reasons outlined below. However, the XRP price indicates that large-cap investors may consider liquidating their investments. Key levels revealed. Due to the aforementioned developments, all eyes are on the price of SHIB and Ripple this week.
Shiba Inu (SHIB) up 35% in one day
The Shiba Inu price has recently gained an impressive 35% in just one day. Over the summer, the SHIB price outlook was in a short-term bullish stance with targets in the $0.00001400 to $0.00001550 area. In last week’s bullish thesis, a 2.7-1 reward prediction came out to risk the trade setup. According to last week’s bullish forecast, a volatile increase towards $0.00001300 could occur. This would act as an important catalyst for higher goals. However, the invalidation of the bullish thesis was located at $0.00001150. However, the forecaster has detected a bearish trend on the Shiba Inu daily chart.
Following that, an update was released suggesting to pursue profitable trading and continue targeting higher targets. “Still, the $0.00001400 target zone is within the reach of the guns,” he said. According to him, if the target was exceeded, traders might want to consider realizing profits. Because bearish divergences tend to lead to liquidations after the event. Finally, the analyst said that early signs of weakness in Shiba’s uptrend would be a break below $0.00001217.
What’s next for SHIB?
Shiba Inu price is currently trading at $0.00001564. As we reported as Kriptokoin.com, the meme coin managed to rise despite last week’s thesis. However, it seems best to consider being less aggressive in the coming days. SHIB forecasts previous medium-term outlooks. It is also extending towards the liquidity levels around $0.00001700. Therefore, it is possible for it to rise to higher levels. As a result, this thesis will remain neutral throughout the week until more evidence emerges.
Ripple price is preparing to take a break
Ripple price continues to be displayed by on-chain analysis signals. The previous XRP outlook revealed a significant increase in daily active wallets. On Monday, an expert confused the chain analysis with breaking news. According to the article, about 300 million tokens were transferred to exchanges. Crypto data tracker Whale Alert took to Twitter with more information about sudden movements on the network. Apparently, 50 million of the last transactions were directly linked to XRP and transferred to an unknown wallet.
XRP price is trading at $0.37, just below last week’s high of $0.39. Historically, cryptocurrencies often witness a significant sell-off after the above transactions have taken place. Transferring large amounts of XRP tokens to active wallets is similar to preparing a gunner for a shot. There seems to be a significant interest in selling the altcoin at the current time and price.
Where will the XRP price go?
XRP price is showing slight bearish divergences between recent trading levels in the Relative Strength Index. There is always a possibility that prices will rise. But for the safety of our readers, it’s best to adopt a bearish strategy when dealing with XRP. A breach below $0.35 has the potential to push XRP price back 35% to $0.24. However, a breach above $0.48 will invalidate the downtrend. It will then pave the way for an increase of up to 100% from the current Ripple price, resulting in a bullish wave targeting $0.75 in the short term.
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