As the cryptocurrency market enters an overall downward movement, representative cryptocurrencies are also showing clear signs of weakening. XRP has reversed its previous upward trend, which once broke through $3 (about 4,170 won), and has fallen back to the $2 (about 2,780 won) level. Meanwhile, Bitcoin (BTC) remains trapped between technical support and resistance lines in a "wait-and-see" market, and Shiba Inu (SHIB), which had raised market expectations, is disappointing without a clear rebound.
Recently, XRP rose near $3.70 (about 5,140 won), but afterward, pushed by strong selling pressure, it broke down below the $3.10~3.00 (about 4,310~4,170 won) support level. Currently, it is trading around $2.94 (about 4,090 won), positioned below the 26-day EMA. The Relative Strength Index (RSI), which can gauge investment sentiment, once exceeded 75, staying in the overheated zone, but has now fallen to around 54, reflecting a slowdown in buying momentum. The technical support line is around $2.35 (about 3,270 won), and if this line is breached, a decline to the $2.60~2.69 (about 3,610~3,730 won) range is expected.
For Bitcoin, after recording a high of $122,000 (about 169.58 million won), it has entered a technical adjustment period. Currently, it is forming a box range between the 50-day moving average ($112,600, about 156.61 million won) and the 26-day EMA. The RSI has also fallen from over 75 to 52, which is evaluated as a normalization process exiting the overheated phase. If it breaks through the 26-day EMA, the main target could be set at $118,000~$120,000 (about 164.02~166.80 million won), but there is also room to retreat to $108,200 (about 150.39 million won) if it declines.
Meanwhile, Shiba Inu has turned weak again near the 50-day EMA ($0.00001296, about 0.018 won), which has served as a technical resistance line, without showing a meaningful rebound. Unlike previous rallies that tested this level, this time it retreated before even approaching the resistance line, which is clearly seen as a weakening of buying momentum. Currently, Shiba Inu's RSI is at 44, and unless new market momentum is injected, a gradual decline is more likely than a rebound.
Overall, the market atmosphere is transitioning from bullish to neutral or bearish. The trends of XRP and Shiba Inu most vividly demonstrate this transition, and Bitcoin's direction is expected to be determined by whether it breaks through the important price pivot range. As uncertainty in the cryptocurrency market has increased, investors need to pay more attention to short-term technical indicators and trading volume trends.
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