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Shiba Inu is stuck in support loop, eyes breakout levels
$SHIB is on verge of historic breakout, if this pattern validates.
- Key support. $SHIB trades near $0.00001238, holding close to its long-tested support at $0.00001159.
Shiba Inu coin $SHIB has been moving in a loop for the past few weeks, staying in the same support area that's marked turning points more than once over the last year. The token is trading near $0.00001238, almost stuck at the $0.00001159 level that's been a support point a few times, from last September to midsummer.
- Bullish pattern. Chart shows rounded consolidations, where price clusters tightly before breaking out.
The chart shows a pattern of rounded consolidations, where the price settles into tight clusters before making a move. In previous cycles, these bases were followed by stretches of upside, first toward $0.00001698 and later pushing as far as the $0.00002052 resistance.
Each time, though, the move lost steam before $SHIB's price could challenge higher zones such as $0.00002501 or the longer-term cap near $0.00002970.
Analysts split on $XRP ETF prospects
$XRP's demise might start with the launch of spot ETFs.
- Bearish take. Feria predicts spot ETFs will be the “beginning of the end” for $XRP.
Crypto analyst and industry observer Adriano Feria has predicted that spot exchange-traded funds will mark "the beginning of the end" for the Ripple-linked $XRP token. Feria is convinced that the launch of such products will reveal that there is no actual institutional demand for $XRP.
Bullish take. Steven McClurg sees potential $5B inflows in the first month.
Some analysts are optimistic about the future performance of the yet-to-be-approved $XRP ETFs based on the success of CME Group's regulated futures that track the price of the Ripple-linked token.
Canary Capital CEO Steven McClurg predicted that $XRP ETFs could potentially attract $5 billion worth of inflows during the first month. He argues that $XRP is the second most well-known cryptocurrency in Wall Street circles (behind only Bitcoin).
Consensys CEO: Ethereum will 100x, flip Bitcoin
Joseph Lubin is convinced that Ethereum ($ETH) will end up flipping Bitcoin.
- 100x rise. Lubin claims Ethereum will eventually overtake Bitcoin’s monetary base.
Consensys CEO Joseph Lubin has predicted that the price of Ethereum ($ETH) will increase by 100 times from where it is trading. Lubin added that even that uber-bullish prediction is apparently not bullish enough. On top of that, he is convinced that Ethereum ($ETH) will end up flipping the Bitcoin (BTC) monetary base.
Ethereum's momentum has been revived by Lubin taking a page out of the playbook of Strategy co-founder Michael Saylor by becoming the chairman of SharpLink Gaming, a gaming affiliate marketing firm that has pivoted to being an Ethereum treasury company with the help of Consensys and Lubin.
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