What to Know:
- Shiba Inu is showing signs of a potential rebound after hitting oversold RSI levels.
- XRP is currently underperforming its historical November growth trends due to broader market volatility.
- BlackRock has continued its significant crypto deposits to Coinbase Prime, sparking debate about institutional selling pressure.
The cryptocurrency market is currently navigating a complex landscape, with various assets exhibiting unique behaviors. XRP’s deviation from its historical performance, coupled with BlackRock’s continued digital asset deposits, presents noteworthy trends for investors. Meanwhile, Shiba Inu is attempting to rebound from oversold conditions.
Shiba Inu recently bounced from extremely oversold RSI levels, suggesting a potential shift in momentum as sellers lose steam. The fact that volume remained comparatively steady throughout the decline lends credence to the theory that this was a controlled, but gradual, unwind rather than panic-selling. However, all major moving averages remain above the price, indicating a persistent macro downtrend.
XRP is struggling to match its historical November performance, currently showing a significant drop. Notably, XRP has six days to rewrite its negative history to align with its monthly average growth rate of 79.9% for November. The broader crypto sector fluctuation has greatly impacted the performance of XRP, just like other projects.
BlackRock’s continued deposits of Bitcoin and Ethereum into Coinbase Prime have stirred discussions within the crypto community. The move, which appears to be another of its repeated sell attempts, has sparked discussions across the crypto community. The leading asset management firm made another major deposit of 2,822 BTC and 36,283 ETH into Coinbase Prime.
As the crypto market evolves, monitoring these trends offers valuable insight for traders and investors. While Shiba Inu aims for a rebound and XRP strives to align with its historical performance, BlackRock’s moves add another layer of complexity. Keeping a close watch on these developments will be crucial for navigating the ever-changing crypto landscape.
Source: Original article
