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In a recent update on X, market watcher Steph provided a detailed analysis for XRP holders, stating that the final countdown for a potential price reversal has begun.
According to Steph, there are strong signals indicating when XRP could break back to the upside. His analysis focused on XRP’s current position in relation to the exponential moving average (EMA) ribbons.
Traders widely use the EMA ribbons to gauge bullish or bearish market conditions. When the price of XRP is below the ribbons, it signals bearish momentum, which is the case at the moment.
Steph stated that XRP has been trading below the EMA ribbons for 37 days since the beginning of February. He pointed out that the last time XRP traded below the ribbons was in October 2024.
According to him, XRP spent 35 days in this bearish territory before breaking above the ribbons and sparking a monumental price rally. During this time, XRP jumped from approximately $0.50 to over $3 before the current correction began.
Historical Patterns Pointing to XRP Reversal
Furthermore, Steph highlighted historical patterns, comparing the current market conditions to other instances when XRP dipped below the EMA ribbons. One such example was in April 2024.
He noted that XRP spent 90 days below the ribbons before experiencing a 43% price rally. Another notable instance was in August 2023, when the token spent 64 days below the ribbons, only to rise by 47% after breaking through.
Accordingly, Steph suggests that the current market scenario is no different, with XRP possibly on the verge of a similar breakout. He argued that the worst-case scenario for XRP is to spend 90 days below the EMA ribbons.
Meanwhile, he stated that the moderate case is 64 days. With few occasions where XRP traded below the ribbons for 36 days, and now that it has already spent 37 days, Steph sparked optimism that XRP could be about to see a huge reversal.

XRP is now 37 days below EMA ribbons says Steph
Key Price Levels to Watch
The analyst pinpointed a key level for XRP to break through in order to confirm the potential price reversal. According to Steph, if XRP breaks above $2.35 with a daily close, it could trigger a massive rally.
He estimated that the minimum rally would be around 40% based on previous movements. Yet, he hinted that the price could rise even more.
The Short Squeeze Potential
Another critical point Steph raised is the current funding rates for XRP. He noted that funding rates are extremely negative, and many traders are shorting XRP.
“This creates a lot of liquidity above us with very little below. Price typically targets the highest liquidity, so a massive short squeeze is likely to occur soon,” he said.
Steph believes a short squeeze could accelerate the price surge, fueling the anticipated rally.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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$XRP $BNB

$SOL

Recent Shiba Inu Bearish Performance 
Shiba Inu has continued to trade in bearish territory in recent weeks, thanks to the unending downturn across the broader crypto market. 
At the current price of $0.00001306, SHIB is down 1.34% in the past 24 hours, 7.3% in the past week, and 17.84% over the past 30 days. Shiba Inu has also lost 59.37% of its value over the past three months, leading to its collapse to the $0.000013 mark. 
Despite Shiba Inu’s devastating plunge, several enthusiasts like Jeremie are optimistic about the token’s potential, with the expert projecting that SHIB could ‘go to the moon’ this cycle. 
SHIB Is Set for a Strong Cycle, But There’s a Catch 
Interestingly, the renowned crypto educator predicts that SHIB will perform strongly in this cycle. However, he cautions that the token might not deliver the dramatic rallies some investors expect this cycle.
Explaining the rationale behind this reasoning, Jeremie acknowledged that Shiba Inu has a strong utility following the introduction of Shibarium. According to him, Shibarium provides users with low-cost transactions and boasts the ability to run different types of applications. 
Despite Shibarium’s technical capabilities, Jeremie notes that “nobody is using it.” He emphasized that there are no real-world applications on Shibarium that drive SHIB’s adoption. 
“If they get that solved, Shiba Inu will go to the moon,” Jeremie asserted. 

This suggests that if the ecosystem team can attract real-world applications to Shibarium that utilize SHIB for transactions, the token’s price will skyrocket significantly this cycle. 
Meanwhile, the ecosystem team has embarked on various initiatives to drive Shibarium’s adoption, including partnering with top crypto projects like Chainlink and K9 Finance DAO. 
For instance, its partnership with Chainlink allows Shibarium to integrate the protocol’s Cross-Chain Interoperability Protocol (CCIP), granting more accessibility to Shiba Inu ecosystem tokens, including SHIB, BONE, LEASH, and TREAT. 
As the team rolls out more initiatives to drive Shibarium’s adoption—especially attracting more decentralized applications that leverage SHIB—Jeremie expects the token to experience a significant price surge. 
$SHIB $BTC $BNB

Cardano price is drawing attention from analysts, with recent forecasts indicating the potential for a strong upward movement. Crypto analysts Javon Marks and Ali Martinez have identified key resistance levels that could determine ADA price trajectory.
While Martinez emphasizes the importance of a breakout above $1.14 to trigger a rally toward $2, Marks presents a highly bullish scenario, suggesting that Cardano price could experience an 8X surge if historical patterns repeat.
Cardano Price Consolidates Within a Bullish Pattern
According to Ali Martinez, Cardano price is consolidating within a right-angled descending broadening wedge, a pattern often associated with bullish reversals. The price has been fluctuating inside this structure, forming lower lows and stable resistance levels. This suggests a phase of accumulation before a potential breakout.
Martinez has identified $1.14 as a key resistance level. If Cardano price breaks above this threshold, it could initiate strong upward momentum, pushing ADA toward the $2 mark. The pattern indicates that ADA is at a crucial point, with traders watching for a decisive move that confirms the next trend direction.
Javon Marks Predicts an 8X Surge
Javon Marks has provided a more optimistic outlook for Cardano price, predicting a potential 8X increase if ADA follows previous breakout patterns. He notes that ADA has already gained nearly 300% since its last breakout, reinforcing its strength in the current market cycle.
Based on past performance, Marks identifies key price targets at $2.7709, $5.2962, and $7.8215. These levels reflect historical trends where Cardano price surged after a breakout confirmation. He also points out that the altcoin rally in this cycle appears stronger than before, increasing the likelihood of ADA reaching these targets.

$ADA $SOL $XRP

With the meme coins taking a pause after massive price jumps, the low cap altcoins are gaining momentum. Amidst such market conditions, the Terra tokens display a gradual rise in bullish momentum in a rising channel. 
However, with the BTC price struggling under the $70K level, will the altcoins manage a comeback in a volatile market? So, let’s look closer at their price charts to identify bullish entry spots. 
Will Terra Classic Rising Channel Fuel Golden Cross?
With a recovery trend in motion, the LUNC pricetrend shows a bullish attempt to gain momentum to gradually undermine the previous correction wave. Further, the Terra Classic token is up against the bearish aligned 50 and 200 EMA in the daily chart after the recent death cross. 

TradingView
Currently, the recovery rally displays a comeback from the 78.60% Fibonacci level and challenges the 61.80% Fibonacci level. Further, the rising channel reveals an underlying improvement. 
With a push from the broader market recovery, the Terra Classic (LUNC) price trend could reach the $0.00015 mark or the 50% Fibonacci level. 
Will Luna Price Reach $0.00017?
Similar to the Terra Classic chart, the LUNA price chart shows a similar rising channel as the demand increases significantly over the week. The altcoin has increased by 12% in a fortnight, teasing a stronger recovery rally.

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Moreover, the bullish trend surpasses the 50D EMA and challenges the 23.60% Fibonacci level. Furthermore, the bullish rise in the RSI line approaches the overbought boundary. In case of a bullish breakout, the uptrend in the LUNA price can reach the $0.00017 mark or the 50% Fibonacci level. 
In conclusion, the bullish trend in the Terra tokens is gaining momentum and teases a trend reversal rally in the coming weeks. With bullish patterns and breakout possibilities, the altcoin prices could reach the marked 50% Fibonacci level in respective charts
$LUNC
$LUNA
$BTC

The cryptocurrency market is filled with excitement after the approval of the long awaited spot Ethereum ETF by the SEC, on March 23, 2024.
Amid this development, investors are closely monitoring the movement of popular meme coins such as Shiba Inu (SHIB) and BONK. Assessing technical indicators and chart patterns is essential in this unpredictable environment before making investment decisions. Let’s conduct a comprehensive analysis of SHIB and BONK to decide if it’s the right time to buy, sell, or hold onto them.
Shiba Inu vs BONK: Current Market Performance

The battle for investor interest is intense, with Shiba Inu (SHIB) and Bonk (BONK) representing opposite ends in terms of market performance.
Despite its widespread popularity, Shiba Inu’s value has recently decreased, trading at $0.00002414 today, after a 4.64% decline in the past day and month.
Although the SHIB experienced a decrease in market capitalisation, it still holds the 12th position among other cryptocurrencies with$14.22 billion, and a trading volume of $936.93 million.
In contrast, Bonk has seen a rise in value recently, trading at $0.00003262. This shows an 11.39% drop in the previous day, but a 35.13% climb in the last week. Although the Solana memecoin has a market cap of only $2.19 billion and is ranked 52, its trading volume of $1.02 billion in the past day shows a notable amount of activity among its users.
In addition, Bonk achieved its highest level ever just three months ago on March 4, 2024, highlighting its current momentum even though there was a slight drop from its peak.
On the other hand, Shiba Inu reached its highest point three years ago on October 28, 2021, indicating a longer period of market volatility. In spite of these variances, both tokens continue to be influential participants in the world of cryptocurrency, each following its own distinctive path and promotional tactics.
Shiba Inu vs BONK: Technical Analysis
Shiba Inu (SHIB):
Shiba Inu, also labeled “Dogecoin Killer,” has sparked intense discussion and speculation within the cryptocurrency world. Analyzing its technical indicators illuminates its present direction. Exponential and simple moving averages present a slightly bearish outlook, but longer-term averages show a bullish sentiment.Shorter period EMAs are showing a preference for selling, while the longer-term EMAs, particularly the 100 and 200-day averages, indicate a buying opportunity.Oscillators are generally indicating a neutral position, as seen with indicators such as the Relative Strength Index (RSI) hovering in the neutral range, indicating neither overbought nor oversold situations.The MACD line shows a slightly bullish buy signal, suggesting possible upward movement. Fibonacci levels provide important guidance for traders by revealing possible price ceilings and floors. Should the price of SHIB decrease, it will find support and $0.00001146 and $0.00001692.
In case the price increases, it will find resistance at $0.00002929, $0.00003620, and $0.00004857. Caution is recommended as SHIB moves through these levels during uncertain market conditions.
BONK:
On the other hand, BONK, another player in the crypto market, offers a distinct technical environment. Both exponential and simple moving averages are indicating a buy signal, suggesting a bullish perspective. The shorter EMAs show a bit of selling mood, while the longer EMAs, specifically the 100 and 200-day SMAs, indicate a robust buying signal.
Indicators for BONK show a varied outlook, as the Stochastic RSI and Momentum suggest selling, while the MACD and Williams Percent Range remain in neutral territory. Fibonacci levels, in conjunction with pivot points, are important indicators for potential price changes.
The Should BONK’s price decrease, it will find support levels at $0.00000426, $0.00000426, and $0.00001346. On the upside, in case the price increases, it will find resistance at $0.00003075, $0.00003884, and $0.00005613. However, a sell signal from the Commodity Channel Index (CCI) raises some caution.
Conclusion
Navigating through the cryptocurrency market, particularly in light of the approval of the Ethereum ETF, necessitates maintaining a balanced approach. When considering investing in either Shiba Inu or BONK, investors need to carefully evaluate the technical indicators in conjunction with overall market trends and regulatory developments.Mixed signals for SHIB recommend a careful strategy, focusing on important support and resistance levels. However, BONK seems to provide a more optimistic perspective, although some indicators are suggesting to be careful. In the end, investors should base their strategy on their risk tolerance and time horizon, whether they choose to buy, sell, or hold during market instability. Practicing careful risk management and conducting comprehensive research are always essential when navigating the ever-changing realm of cryptocurrencies

The future of Cardano appears promising, with statistical data indicating a gradual rise to $200 beyond 2030 in long-term forecasts.
ADA has piqued the interest of many investors, who anticipate a major positive price increase that might introduce new price highs. While the current optimistic trend in the crypto market has yet to fully impact ADA, the currency has seen minor gains following Bitcoin’s $70k climb.
At press time, ADA was trading at $0.484, a 1% decline in the last 24 hours. This slight dip has triggered concern among investors. However, the ADA community remains optimistic, hoping that it will soon align with the ongoing bullish trend and eventually enter a substantial bull run.
Statistics Overview
According to Changelly statistics, Cardano is expected to gain traction, albeit gradually. By May 2040, the platform anticipates that ADA will have a minimum price of $173.58, potentially rising to $208.20, with an average trading price of $183.08. These forecasts show that ADA’s value will reach a new peak during the next two decades.

Notably, insights from ChatGPT suggest that Cardano could potentially reach $200 beyond 2030. However, this ambitious target hinges on significant advancements in adoption, technology, and market conditions. According to ChatGPT, achieving such a price level will require substantial developments within the crypto ecosystem.
Meanwhile, per reports from The Crypto Basic, analysts remain optimistic about Cardano’s future, predicting a bullish trend that could see it reach between $7 and $13 by 2025. Javon Marks, for instance, revised his target for ADA, raising it from an initial $2.7 to new potential targets of $5.29 and $7.82.
In another analysis, Ben “Bitboy” Armstrong highlighted a forecast by Ali Martinez, which projects ADA reaching $7 based on historical patterns. Armstrong takes this optimism further, suggesting an even higher target of $11. This bullish outlook is echoed by Dan Gambardello, who also believes that ADA could realistically achieve $11 in the current market cycle.

Popular doggy-themed meme coin Shiba Inu (SHIB) has experienced another substantial surge in its burn rate, soaring by 4,000%. The new milestone has fueled optimism about a potential bull rally, raising questions about whether Shiba Inu (SHIB) can now rival Dogecoin (DOGE). 
Amidst this development, another crypto project has been recording multiple milestones recently. ETFSwap (ETFS), a decentralized exchange, has witnessed a massive surge in token adoption, with millions of tokens sold ahead of the approaching bull market. 
Shiba Inu (SHIB) Burn Rate Barrels Ahead Of Dogecoin (DOGE)
Shiba Inu’s burn rate skyrocketed by approximately 4,111% on May 6, marking a significant drop in the number of tokens in circulation. Data from Shibburn revealed that more than 82.1 million Shiba Inu (SHIB) were removed from circulation, pushing the cryptocurrency’s market capitalization to $14.3 billion presently. 
This substantial burn rate comes after many others, as Shiba Inu (SHIB) has seen millions of tokens burned in a single day. The cryptocurrency’s burn process works by sending significant amounts of tokens to a dead wallet to effectively reduce Shiba Inu’s supply. The purpose of burning Shiba Inu (SHIB) tokens is to create scarcity and potentially increase its value.
With Shia Inu’s burn rate surging by 4,111%, this development could trigger a bullish rally, propelling the cryptocurrency’s current price of $0.000024, according to CoinMarketCap, to new highs. Additionally, this surge could potentially rival Dogecoin (DOGE), the largest meme coin by market capitalization. 
Over the past 24 hours, Dogecoin’s price of $0.14 is down by 4.38% while Shiba Inu (SHIB) has also dropped by 2.10%. This significant decline underscores the volatility of meme coins and susceptibility to market conditions. 
Despite achieving its new burn rate milestone, Shiba Inu (SHIB) is still trading below its all-time high of $0.000086 in 2021. This bearish sentiment is not shared by other crypto projects like ETFSwap (ETFS), which has been gaining momentum despite prevailing market trends. 
ETFSwap (ETFS) Scores Major Milestone With Ongoing Presale Success
While Shiba Inu’s burn rate soars amidst price declines, ETFSwap (ETFS), a decentralized exchange, has been recording significant milestones in its developmental process and ongoing public presale.
As a blockchain-based cryptocurrency and Exchange-Traded Fund (ETF) trading platform, ETFSwap (ETFS) uses tokenization to enable the buying and trading of institutionally listed ETFs. Users from all over the world can utilize this innovative platform to swap cryptocurrencies like Shiba Inu (SHIB) for institutional ETFs such as leveraged ETFs, fixed-income ETFs, cryptocurrency spot and futures ETFs, and commodity ETFs. 
The platform has applied for multiple licenses to operate in several jurisdictions, opening access to the tokenized ETF market for cryptocurrency and non-crypto investors globally. Additionally, ETFSwap (ETFS) has leveraged blockchain technology to boost its platform’s performance, including facilitating the trading experience, streamlining transactions, boosting user security and enhancing transparency. 
Trading ETFs on ETFSwap (ETFS) also comes with a few other perks, including up to 10x leverage on all trades, an 87% APR yield when you invest and stake its native token, ETFS, and low-cost trading sessions. Furthermore, this platform offers perpetual futures and options trading, allowing users up to 50x leverage across all listed ETFs when they trade in long and short options directly on ETFSwap. 
In terms of security and privacy, ETFSwap (ETFS) has eliminated the need for KYC verification, improving its privacy features so users can trade anonymously and comfortably without the interference of third-party entities like regulators and other financial institutions. 
Moreover, no vulnerabilities were detected in the platform’s security and underlying infrastructure after its smart contract was thoroughly audited by CyberScope, a prominent cybersecurity and blockchain audit company. 
ETFS Tokens Growth
Presently, investors’ demand for ETFS tokens is growing at a rapid rate, and even Shiba Inu (SHIB) and Dogecoin (DOGE) whales have been showing interest in ETFSwap’s native token. 
New investors can purchase ETFS tokens in its ongoing first presale stage to gain access to ETFSwap’s numerous trading solutions and investment opportunities. 
The price of the token is currently $0.00854 but is expected to rise to $0.01831 by the second presale stage. The platform has already scored multiple achievements in its ongoing presale, witnessing more than 80 million ETFS tokens sold out in just the first stage of its presale. 
$SHIB $BTC $SOL

Bitcoin’s price has stabilized slightly above the crucial support level of $66,000, with crypto traders confident in its strength. However, some traders are concerned about the likelihood of a significant correction in the coming days due to a potential selloff around resistance channels.
This could lead to a significant increase in interest in the altcoin market this week, potentially pushing several altcoins to new highs.
Pepe Price Analysis
Pepe’s price is experiencing increased bearish pressure following a selloff at the recent all-time high of $0.00001156. The price is falling below the EMA20 trend line, signaling a potential trend change. As of now, Pepe trades at $0.000009432, reflecting a decline of over 6.4% in the last 24 hours. 

Buyers are trying to keep the price above the 20-day EMA ($0.00000958). If they succeed, the PEPE/USDT pair might climb back to $0.000011. This level is critical for the bears to defend because a rally beyond it could lead to an increase toward the ATH.
On the other hand, a break and close below the $0.0000091 support level would confirm a bearish pattern, potentially pushing the pair down to the strong support at $0.0000055. With the RSI sharply declining below the midline, bears currently have an advantage in dominating the price chart.
Render Price Analysis  
Bulls are struggling to keep RNDR price above the 20-day EMA, currently at $10.2, indicating ongoing pressure from bears. However, Render price continues to hold its buying demand above Fib levels. As of writing, RNDR price trades at $10.6, surging over 5.4% in the last 24 hours.

The 20-day EMA is surging, and the RSI is heading toward the overbought region, suggesting that RNDR might experience bullish movement for several more days. If buyers manage to sustain the price above the descending resistance line, the RNDR/USDT pair could potentially move towards the 50-day SMA at $11.4. This level may pose significant resistance, but surpassing it could send the price toward new ATH this week.
Conversely, a reversal from the 50-day SMA would indicate that bears dominate higher price levels. As a result, the pair might decline towards a crucial support level of $9.5.
Bonk Price Analysis
Bonk price has seen a significant increase recently, potentially testing the patience of buyers. Despite this surge, bears maintain a strong presence around the $0.000028 mark. Currently, Bonk price trades at $0.000028, marking an over 12.5% rise in the last 24 hours.

Buyers are working to hold the price above the 20-day Exponential Moving Average (EMA) of $0.0000265. If successful, the BONK/USDT pair could advance towards the 50-day Simple Moving Average (SMA). This level is critical for bears to defend, as surpassing it might lead to a rise towards a new ATH of $0.00005.
On the other hand, if the price declines and stabilizes below $0.0000237, it would indicate a bearish trend. This could result in the pair falling to the strong support level of $0.00002.
$BONK $RNDR $PEPE