Analyst Akash Girimath shared his predictions for two popular altcoins, Shiba Inu (SHIB) and Ripple (XRP). While explaining the next levels for Ripple, which rallied 15 percent, the analyst drew attention to the long-term movement in SHIB. Here are the details…
Ripple has risen hard: What’s next?
cryptocoin.com As we reported, XRP price XRP price rose 12% between September 7 and 12, but faced resistance at $0.360. This rise was followed by a 10% pullback forming a bottom at $0.325. But the explosive surge triggered on September 16 drove the price up 20% in under 48 hours. XRP is currently retesting the $0.381 hurdle that has blocked the uptrend since June 11th. The analyst thinks that it is vital for XRP, which has been struggling with this level for almost 100 days, to exceed this level.
If successful, XRP could face another 14% increase retesting the $0.439 barrier. However, investors should also look out for a potential pullback to $0.360, which could serve as a good entry point for Ripple’s next move. On the other hand, if XRP price fails to break the $0.381 hurdle, the $0.360 support base will be a place for sideline buyers to enter.
A downside break above this level invalidates $0.439, increasing the possibility of a drop to $0.357. As a result, this development could send XRP price to the test level of $0.325. Also, according to the analyst, XRP can see $ 0.309 in a situation where it is quite bearish.
What are the levels to watch for SHIB?
On the other hand, the Shiba Inu broke a critical support confluence that marks the transition from bulls to bears. Shiba Inu price collapsed below a critical support combination at $0.001118 after struggling with it for four weeks. According to the analyst, this development may look like a bearish trend, but the continuation of this trend will prepare SHIB for a long-term game. For now, the Shiba Inu price could drop 20% before encountering the fair value gap (FVG) stretching from $0.0000092 to $0.0000083.
A retest of this area would be an ideal place for buyers to step in and trigger a trend reversal, according to Girimath. The chart below shows that market makers can target liquidity at $0.0000179. It also suggests that the overall potential return for investors is about 95 percent.
This “setup” risks breaking down if we see an early rally in Shiba Inu price or if SHIB turns the $0.0000087 support level into a resistance barrier. The first scenario provides an opportunity for gains, while the second view overrides the bullish view for SHIB.
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