The cryptocurrency market is once again looming with a recession. Shiba Inu (SHIB), Ethereum (ETH), and XRP (Ripple), which had recently been on an upward trend, are each showing signs of weakness in different ways. In particular, XRP's collapse of the $2 (approximately 2,780 won) support level, along with ETH's declining trading volume and loss of direction, are fueling investor anxiety.
First, XRP lost the technical support level it had maintained for the past several months. It fell below the 200-day moving average, breaking its long-term uptrend and currently hovering around $2.40 (approximately 3,336 won). The recent drop below $2.30 (approximately 31.97 million won) demonstrates the continued strength of the selling pressure driving the downtrend. Technical analysis shows that XRP continues to move within a descending channel, forming lower highs and lower lows, with the lower end of this channel, $2.00 (approximately 27.8 million won), emerging as a potential new support level.
According to experts, if this area collapses, further declines to the $1.80-$1.70 range (approximately 25.02 million to 23.63 million won) are possible. If the current trend of declining buying power and slowing trading volume continues, the likelihood of another plunge is higher than a rebound.
Meanwhile, Shiba Inu (SHIB) appears to be consolidating its recent chart structure. Following a sharp decline, it has been trading sideways at $0.0000103 (approximately 0.014 won), with $0.0000100 (approximately 0.014 won) serving as a key support level. The RSI indicator is in the low 40s, approaching oversold conditions, and downward pressure has somewhat eased. A break of $0.0000105-0.0000106 (approximately 0.015 won) could trigger a technical rebound. However, a breach of the psychological support level of $0.0000100 could also lead to a decline to $0.0000090 (approximately 0.012 won).
For the market to be rekindled, increased trading volume and a return to confidence must accompany it. However, the current mood is more of a wait-and-see attitude than a sense of anticipation.
Ethereum (ETH) is showing signs of fatigue and a loss of direction in the market. The price has recently fluctuated below the $4,000 (approximately 55.6 million won) level, and major technical indicators are also showing a lack of direction. In particular, the cryptocurrency is temporarily holding below both the 50-day and 100-day moving averages, suggesting a lack of buying power. The RSI is neutral or nearing a downtrend at 43, and trading volume has also decreased significantly.
Ethereum's stagnation is attributed to a lack of new momentum within the ecosystem and a slowdown in on-chain activity. Conversely, while Bitcoin is regaining market attention with institutional investors, ETH has failed to find its own upward momentum.
If ETH fails to break above $4,250-$4,300 (approximately 59.08-59.77 million won), it could fall below $3,800 (approximately 52.82 million won), and a mid-term correction is inevitable. While ETH is not on the verge of collapse, the market is no longer confident in its future growth.
Overall, a clear three-way pattern is forming: XRP is experiencing a trend break, SHIB is attempting a rebound, and ETH is experiencing accumulated fatigue. Barring a technical reversal, the market's downtrend is likely to continue for the time being.
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