Following a wave of heavy selling in the cryptocurrency market, XRP is attempting to stabilize near the $1.10 mark, aiming to form a short-term bottom after what is described as one of the ma
Following a wave of heavy selling in the cryptocurrency market, XRP is attempting to stabilize near the $1.10 mark, aiming to form a short-term bottom after what is described as one of the major pullbacks of 2026. The asset, having dipped below major support lines and exited a multi-month trading range, continues to face downward pressure despite some signs of recovery.
XRP recently lost its $1.28 support level, which had served as a key floor for most of March, April, and May. This breakdown accelerated selling, dragging the price down to recent lows around $1.05. Despite a brief rebound, the recovery was limited, indicating that market participants remain cautious even as the price attempts to rally.
Technical indicators reveal that significant resistance areas remain above the current price. The 50-day moving average stands at $1.20, while the 100- and 200-day averages are positioned at $1.28 and $1.35 respectively, reflecting an ongoing advantage for sellers in the broader trend. For a more meaningful turnaround, analysts note that XRP would need to reclaim these levels as new support zones.
Trading volume has shown a more balanced signal. There was a notable spike in volume during the initial breakdown, suggesting that much of the selling may have played out during that phase. As panicked selling has eased, volumes have gradually returned to normal, while the Relative Strength Index (RSI) is now attempting an upward move after exiting oversold territory.
While the downward momentum in XRP has waned compared to the first wave of selling, this alone does not confirm a lasting trend reversal.
In the near term, investors are closely watching the $1.20 level. A sustained move above this threshold could open the door to a broader rebound toward $1.28, while failure to break higher keeps the risk of revisiting recent lows on the table.
Dogecoin, despite a persistent bearish outlook, is at a price point that has drawn renewed attention from long-term investors. The so-called “zero deletion rally” in market jargon refers to the psychologically important $0.10 level, but current data suggest that such a move is not imminent.
DOGE is trading near $0.084, having recently fallen below a rising support trend that had held since February. This prompted another wave of selling, but sellers did not push the price significantly below $0.08, indicating that some buying interest remains at lower levels.
Technically, the outlook remains weak. DOGE continues to trade under its 50-, 100-, and 200-day moving averages, with the 50-day average at approximately $0.089 serving as nearby resistance. Higher up, the $0.098 and $0.114 levels are key to monitor. Following a near-oversold reading, the RSI has steadied, while previously elevated selling volumes suggest that weaker hands may have already exited.
Mini glossary: A “zero deletion rally” refers to a price move where a digit shifts upward in the decimal structure, crossing a psychological milestone. In Dogecoin’s case, this term is used for a return above $0.10.
The technical backdrop for Shiba Inu continues to look fragile. Although overall crypto markets have found some footing after recent volatility, SHIB remains one of the weaker major meme coins, with several indicators signaling that downside risk is still elevated.
A multi-month ascending channel that had formed since March has now been decisively broken to the downside, erasing prior recovery attempts and sparking a new round of selling. Since then, SHIB has struggled to generate enough buying interest for a significant rebound.
Trading around $0.0000047, SHIB is positioned under all key moving averages, with the 50-day at $0.0000050 and the 100- and 200-day averages at $0.0000055 and $0.0000057 respectively. The emerging minor rising wedge formation following the recent drop is under scrutiny, as such patterns often resolve lower in broader downtrends.
Despite recent attempts at a rally, modest buying volume in SHIB suggests the uptick may be driven more by short-covering than sustained accumulation.
While the Relative Strength Index has recovered from early-month oversold levels, it remains below the neutral 50-point mark. In the short run, holding above $0.0000050 and reclaiming the 50-day moving average are considered pivotal for SHIB. Otherwise, there is risk of a fresh move toward recent lows.
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