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XRP Makes Comeback for Survival, Shiba Inu (SHIB) Has No Ground Under Its Feet, Solana (SOL) Downtrend Becoming Scary

Author: Content Editor
The article discusses the price movements and potential recovery scenarios for three cryptocurrencies: XRP, Shiba Inu (SHIB), and Solana (SOL).

For XRP, it is mentioned that the asset is approaching its descending resistance line and if it breaks through, it could signal a potential recovery. The article suggests that a crucial support level is the price holding above the 50 EMA. The first major price target for XRP is in the $2.57-$2.60 range, with the next significant resistance level at $2.80. A retest of $3.00 could be possible if XRP continues to rise. The immediate support for XRP is between $2.10 and $2.15.

Regarding SHIB, it is mentioned that the cryptocurrency is exhibiting signs of weakness and sellers seem to be in control. The article highlights the breakdown of the 26 EMA and suggests that the next immediate support is near $0.00002500, with a potential revisit of the $0.00002250 zone if the downtrend continues. Increased trading volume is needed for a significant recovery. The RSI indicator is currently trading at about 49, indicating neutral to slightly bearish momentum.

For SOL, it is mentioned that the cryptocurrency is experiencing selling pressure and struggling to maintain upward momentum. The article notes the downward trend with lower highs, indicating bearish sentiment. The price is currently at the 50 EMA, and breaking below this level could lead to further declines. The 200 EMA is seen as a crucial long-term support area, located at $174. Low purchasing interest and lack of conviction make it difficult for SOL to break out of its downward trend. Breaking above the descending trendline resistance around $225 could indicate a bullish reversal and retest of the $240 region. The RSI indicator is trading just below 50, indicating neutral to slightly bearish momentum.

Overall, the article suggests that XRP has potential for recovery, SHIB is exhibiting weakness, and SOL is struggling to escape its downward trend.

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