According to U.Today, Ripple-associated XRP and Shiba Inu (SHIB), two notable digital assets in the cryptocurrency market, are exhibiting unusual correlations in key metrics. Data from CoinMarketCap indicates that both XRP and SHIB are currently experiencing a rebound in line with the broader market trends.

An analysis of the current trends in the XRP and SHIB charts reveals parallels in their trading patterns. Both digital assets have shown similar price movements, with XRP and SHIB recording 24-hour price increases of 3.4% and 2.4%, respectively. Additionally, their 24-hour trading volumes have also followed a similar pattern, with SHIB’s volume dropping by 54% and XRP's by 42.7%. Despite the declining trading volumes, it is anticipated that both altcoins may sustain their rebound.

At the time of reporting, SHIB is trading at $0.00001368, with a market capitalization exceeding $8 billion. The next critical support level for SHIB is at $0.0000138. A break above this level could potentially lead to a further price rally for SHIB, while a fall below this support level might result in a sharp price decline.

Despite a recent price increase to the $0.5 mark, XRP has not fully recovered across all key metrics. Investor sentiment towards XRP remains bearish, and the Crypto Fear & Greed Index indicates a state of “Fear,” with volatility classified as “Very High.” XRP’s price had previously declined by 15.25% due to broader market volatility, erasing gains accumulated over the past two weeks.

Another factor affecting the XRP market is the ongoing uncertainty surrounding the legal case between Ripple and the U.S. Securities and Exchange Commission (SEC). Investors had hoped that a resolution of the case would provide legal clarity for XRP. However, the postponement of a closed-door meeting has led to a decline in XRP’s price, further contributing to market unrest.