Shiba Inu and XRP are two major coins that crypto enthusiasts expect to surge soon. As a coin that has been here for around 12 years, XRP has a bunch of long-term holders in it, and the whole crypto market has been waiting for it to boom for years. Meanwhile, as a senior meme coin, Shiba Inu also has long-term hodlers expecting it to skyrocket in the meme coin bull season.
There are speculations around the crypto communities that these coins will surge soon, and unusual returns of 500% for SHIB and 150% for XRP are expected by many. This article will check whether these coins can achieve these targets, and find what will happen to them in the near future. Let’s start.
Ripple XRP’s Market Scenario and Expectations
XRP is now trading around $0.5187, a 1.61% decrease from the previous week. Various short-term traders consider this a dip and are expecting an uptrend soon. It is being helped by the speculations around XRP, however, the long-term expectations are neutral.
XRP’s Chart Analysis Indicates an Uptrend
This year, XRP has been going through several ups and downs, but without going far up and far down. In the monthly charts, it is down for around two months, an this signals an uptrend, as evidenced by the previous months.
We can expect a movement to $0.64 in the coming months. But chances are low for a significant rise. The oscillators and moving averages align to sell rather than neutral. The RSI (Relative Strength Index) is 42, signifying sell. However, the February and July charts, the times just before the uptrends, also showed the same outputs. So, it signals a buy.
XRP’s Market Sentiment is Neutral
There are so many speculations around XRP. The major one is that it will skyrocket to 150% after the US Elections. The reason for this is the pending SEC decision on the ongoing case. The SEC ordered to pay 125 million dollars for selling XRP in improper way, and this battle is still live. Many believe that this issue started in 2020, will come to an end after the elections.
Another speculation is that BRICS will choose XRP as its currency. BRICS, an organization of Brazil, Russia, India, China, South Africa, and various other countries, is planning to bring a blockchain-based alternative economy to counter the dollar’s domination. Many believe that they will get into XRP instead of creating a new coin, however, the chances are very low.
These speculations, in some way or other, are generating occasional investments into the Ripple. But, a bull run needs a strong reason to attract investors.
Shiba Inu’s Rounding Bottom Chart Analysis Promises a Bull Run
After attaining a sudden yearly high in early March 2024, Shiba Inu went into a downtrend, and recently it has started showing a rounding bottom (saucer bottom) pattern in the charts. Let’s assume that this pattern will continue and check what to expect.
A rounding pattern is where a bearish asset regains its previous heights by forming a curve-like pattern. Shiba Inu’s investors started taking profit from March, creating a slow downward movement for 5 months till August, and it went into a consolidation phase by keeping a steady movement for the next two months.
At the end of September 2024, Shiba Inu showed small upward trends, indicating the conclusion of the consolidation phase. If we take an approximate time layer of September month as the middle path of this rounding pattern cycle, we can expect the height of the bull run around March 2025.
Shiba Inu’s Market Sentiment is Neutral
To initiate the bull run, the main ingredient needed for Shiba Inu is virality, as evidenced in previous uptrends. As of now, there are no significant updates regarding the coin becoming a sensation on social media. The past month’s 6% increase indicates a natural growth rather than a result of the trend.
For meme coins, viral marketing is necessary to attract investors, and long-term participants in the Shiba Inu frenzy are the best people to know the importance of this. Till then the coin will continue neutral movements with occasional pumps and dumps. The current RSI (Relative Strength Index) is around 56, indicating a neutral phase.
Conclusion
XRP has been a victim of baseless speculations for a long time, and as a meme coin, Shiba Inu also face the same. But we cannot be certain about anything as sometimes these baseless speculations will be the factors to start a bull run.
Since it is a volatile market, invest with caution, especially in meme coins like Shina Inu and ambiguous coins like Ripple. DYOR (Do Your Own Research) and increase your decision-making skills to enhance your trading experience.
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