Enormous XRP Breakout to Launch Skyrocketing Rally, Shiba Inu (SHIB): Pattern You Don’t Avoid, Bitcoin (BTC) Still Sleeping 

News
Crypto Market ReviewMon, 13/01/2025 – 0:01Cover image via www.freepik.comDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.AdvertisementFinally, XRP has breached a crucial descending trendline resistance level, suggesting that a major bullish rally may be about to begin. After weeks of consolidation within a narrowing range, traders have a clear indication that momentum may be turning upward with this breakout. The recent surge above the $2.30 mark, which saw XRP close above the trendline and important moving averages, including the 50 EMA, validates the bullish sentiment. This level now acts as a solid foundation for future development.The next important resistance levels to keep an eye on if the bullish momentum continues are $2.50 and $2.70. With a successful push above these levels, XRP might aim for $3.00, a psychological barrier that might pique investors’ interest once more. The breakout volume is noteworthy but not yet explosive, indicating that although the breakout is legitimate, more buying pressure could help the rally gain more traction.XRP/USDT Chart by TradingViewWith an RSI of 59 right now, there is still opportunity for more upside before the market becomes overbought. If XRP is unable to maintain its position above $2.30, it may retest the descending trendline, which is currently serving as support at about $2.20. But if this level is broken, the bullish scenario may be invalidated and the price may move toward the $2.00 level, which is in line with the 100 EMA. All things considered, XRP’s breakout paves the way for a possible bullish rally with $3.00 serving as the crucial long-term target.To verify the strength of this breakout, traders should keep a careful eye on volume and support levels. With the technical structure suggesting expansion, XRP might be preparing for its next significant move.AdvertisementShiba Inu heading forwardA head-and-shoulders pattern, a bearish structure that frequently portends a possible downward movement, is beginning to form on Shiba Inu. The asset is currently struggling close to important support levels, so traders and investors need to pay close attention to this pattern.Right now, SHIB’s price is trading close to $0.0000200, just above the 200 EMA. By serving as a strong support area, this level has stopped a more severe sell-off. But the neckline of the pattern, which is at about $0.0000215, is still crucial. In line with previous demand zones, a confirmed breakdown below this level might lead to a strong move