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XRP Can Perform Biggest Breakthrough in 2025, Shiba Inu (SHIB) Bull Run Canceled, Ethereum (ETH): Way to $2,000 Open
NewsCrypto Market Review
By Arman Shirinyan
Wed, 30/04/2025 - 0:01
Market's boundaries being pushed
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Shiba Inu denied
Ethereum's target set
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One of XRP's biggest technological advances of the year, if not the entire 2025 cycle, may be imminent. The asset is once again trying to break through the upper limit of its long-term descending trendline, but this time the structure underneath it appears different after months of consolidation and rejection at significant resistance levels. Since its mid-April lows, XRP has risen steadily, pushing above the 50, 100 and 200-day EMA, which are now serving as strong dynamic support. It is currently trading at about $2.29.
A change in sentiment from the mid- to long-term is reflected in this triple crossover alignment, which is usually a bullish base. Although this setup frequently comes before powerful continuation moves, the real test is still to come. Just above the current price levels is the upper trendline, which stretches back from the highs of February.
XRP/USDT Chart by TradingView
The end of the downtrend channel that has dominated XRP's price action for months would be confirmed by a clear and definitive break above this trendline, ideally accompanied by an increase in volume. With $3.00 as the next psychological and structural target, such a breakout might lead to an acceleration toward $2.50. This time around, momentum is different. XRP has room to run as the RSI is increasing slightly but is still below overbought territory.
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There is still a slight increase in volume, but it is steady and frequently comes before significant expansions. XRP might begin price discovery for 2025 if bulls can overcome the trendline resistance, starting a more extensive market recovery that many people thought would take months to complete.
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Shiba Inu denied
The wall that Shiba Inu just struck is a familiar one. The asset was rejected at the 100 EMA level once more after displaying some short-term strength and battling its way up through regional resistance zones, halting what might have been the beginning of a legitimate breakout. Presently trading at $0.00001370, SHIB was unable to maintain momentum after reaching $0.00001400, a crucial midterm resistance level that almost exactly matches the 100-day EMA. This rejection goes beyond a simple technical error.
It is an obvious indication that buyers lack the will to persevere and that the market as a whole is not yet prepared to sustain a long-term SHIB bull run. The volume has been slightly increasing, which usually means that interest is growing. It has not, however, resulted in actual purchasing pressure in this instance.
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Rather, it has been more of a battle between a wave of profit-takers sitting just above that EMA level and speculative bulls. The fact that the fuel is present but the engine will not start makes the rejection even more agonizing.
The absence of a break above the 100 EMA raises doubts about a potential bull run occurring anytime soon. Instead we might now witness a support retest in the range of $0.00001250-$0.00001270. The entire April recovery could be undone if that does not hold and SHIB could fall back toward the $0.00001200 range.
In summary, the SHIB bull run has been put on hold. It is too early to discuss a trend reversal until it clearly breaks above the 100 EMA and, ideally, challenges the 200 EMA above. This appears to be more of a failed bounce than the start of something genuine because it is still very much in a downward trend.
Ethereum's target set
Ethereum is now aiming for the $2,000 mark, a psychological and technical benchmark that has not been tested since early March after finally breaking through a significant resistance level. ETH is currently trading above its 50-day EMA (~$1,743), indicating that momentum is turning in the bulls' favor after a protracted period of sideways movement and false starts. ETH is currently trading at about $1,830 after putting together a string of higher lows and breaking out of the lower consolidation band that held it below $1,800 for weeks.
The clear break above the 50 EMA is not merely symbolic; historically it has served as a catalyst for Ethereum to accelerate gains in markets that are trending upward. The path higher is technically open, with the next resistance levels falling between $2,000 and $2,160. However, the volume is rapidly decreasing. Ethereum's daily volume has been steadily declining in spite of the positive price action, indicating that the breakout lacks the conviction necessary for a long-term rally.
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A volume spike usually follows breakouts in bull markets; its absence in this case raises some concerns. Resetting sentiment and attracting new participation is likely to occur if ETH manages to break through $2,000 in the upcoming days. If that does not happen, the price might stall or even drop back toward the $1,750-$1,700 range, retesting the breakout point.
For now, the crucial question is whether buyers will act decisively or if the move will fail like previous attempts. Although ETH appears stable in the short term, it is still precariously balanced. Even powerful technical setups can collapse in the absence of volume. Watch both the $2,000 resistance and the $1,800 support; the trend for May will be determined by whichever gives first.
#Ethereum#XRP#Shiba Inu
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According to a recent report by Politico, the much-talked-about stablecoin legislation will get a full Senate vote in May.
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The report, which cites an anonymous source, says that Senate Majority Leader John Thune intends to hold a vote before Memorial Day (May 26).
The Senate Banking Committee passed the legislation last March, with several Democrats voting against it.
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The legislation is meant to introduce clear rules for banking institutions and cryptocurrency firms that want to engage in stablecoin issuance.
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In order to create dollar-pegged cryptocurrencies, such issuers would need to apply for licenses.
The stablecoin bill also introduces reserve requirements for issuance in order to ensure that tokens can be redeemed for actual dollars without any hassle.
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However, the bill has been criticized by Massachusetts Senator Elizabeth Warren since she believes that it does not sufficiently protect consumers.
Despite some opposition from some left-leaning Democrats, the bill is still expected to secure bipartisan support.
This would mark a major victory for the crypto industry, which has been clamouring for stablecoin rules.
In the meantime, stablecoins are gaining more prominence. Mutual fund giant Fidelity is reportedly considering entering the burgeoning sector.
As reported by U.Today, crypto mogul Mike Novogratz recently predicted that stablecoins might replace the foreign exchange (FX) market within just five years.
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