XRP makes a comeback after the launch of RLUSD, Shiba Inu (SHIB) struggles to stand firm, and Solana (SOL) faces a frightening downtrend🔥🔥🔥

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Signs of XRP recovery

Recent price movements of XRP indicate a potential recovery, with trading prices approaching the short-term resistance level of $2.40. If it closes above the resistance level and gains upward momentum, it may enter a recovery phase, with the first major price target set in the range of $2.57-$2.60. Should it continue to rise, the important resistance level is at $2.80, and a breakout may lead to a retest of the psychological barrier at $3.00. Downward support is located around $2.10-$2.15.

SHIB market performance is weak

The price of Shiba Inu continues to decline, having broken through the 26 EMA, indicating that buyers have not defended key levels, resulting in increased selling pressure. The current trading price is $0.00002712, with downward support located near $0.00002500. Unless trading volume increases significantly, SHIB is unlikely to rebound substantially.

Clear downtrend for Solana

Solana is facing selling pressure and cannot maintain upward momentum, currently in a downtrend, with peaks constantly declining. The price is $217, having fallen to the 50 EMA short-term support level, and a break below may lead to further declines down to $195. The key long-term support area is at $174 for the 200 EMA. Solana needs to break the resistance of the descending trend line at $225 to recover; otherwise, the bearish trend will continue.

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