‘Everything is lining up’ — Tokenization is having its breakout moment

Shiba Inu is facing a new wave of pressure despite the recent emergence of a traditionally bullish technical indicator. The token has dropped even though a golden cross — a pattern often linked to upward momentum — formed on the daily chart recently.

A golden cross happens when a short-term moving average goes above a longer-term moving average. In SHIB's case, the 23-day moving average has crossed the 200-day, which suggests the potential for a bullish trend reversal. But so far, the price action has not shown the expected result.

Right now, SHIB is trading near $0.00001296, down over 5% in recent sessions. The decline comes after a short rise that saw the token reach highs around $0.000014 before hitting a resistance point and dropping.

SHIB is not able to hold gains above the crossover zone, which is making traders worry that the golden cross might be sending out a false signal because of the overall uncertainty in the market.

Technical support is sitting right around $0.00001274, which is in line with the 23-day moving average. If it doesn't hold above this level, it could lead to more selling, with the next support level being around $0.00001107. The price is still holding steady at around $0.00001360, which is the lowest it has been in a while.

The overall situation with meme coins is still a bit uncertain, with market participants keeping a close eye on things like trading volume, trend validation and the overall risk appetite across digital assets.

Golden crosses are usually seen as a good sign for the market, but they can actually be less important when investors are feeling uncertain or when there are a lot of short-term bets being made.

A recent wallet issue involving an attempted 10,000 XRP transaction caused a controversy in the XRP community, prompting confusion and speculation. The failed transaction, flagged on XRPL as a payment to "Xaman Service Fee," showed up during a routine swap operation. Though the transaction didn’t go through due to insufficient funds, the large amount raised immediate concerns.

The flagged transaction appeared during a routine swap operation, where a user was reportedly charged what seemed like a 10,000 XRP service fee.

The transaction showed a failed status labeled "UNFUNDED_PAYMENT," meaning the sending account did not have sufficient balance — excluding reserve requirements — to complete the transfer. Despite this failure, the sheer size of the attempted amount sparked immediate alarm.

Amid the growing concerns, Ripple’s CTO, David Schwartz, who is also the architect of XRP Ledger, stepped in to clarify. He explained the issue wasn’t intentional or malicious but rather a rare edge case the system wasn’t set up to handle. According to him, the glitch has now been fixed, and no funds were lost as the transaction never succeeded.

Users expressed concern over the possibility of software misbehavior or manipulation, with some viewing the occurrence as a reflection of deeper reliability issues with the Xaman Wallet. One user even raised alarms suggesting this could be a coordinated attempt to damage reputations or target specific companies vocal in their criticism of XRPL's direction.

Some took it a step further, suggesting the issue might be more than just a bug — possibly even a targeted move against developers or projects in the XRP ecosystem. That speculation quickly spread, feeding distrust and frustration.

The leading altcoin ETH has bucked the broader market downturn over the past 24 hours, posting modest gains of around 1%. At press time, the coin trades at $1,842.

This comes as a key momentum metric — the taker buy-sell ratio—surges to its highest level in 30 days, signaling renewed bullish pressure in the asset’s futures market.

Traders Eye ETH Upside as Buy Pressure and Build

According to CryptoQuant, ETH’s taker-buy-sell ratio is currently at 1.08, marking its highest value since early April.

This metric measures the ratio between the buy and sell volumes in ETH’s futures market. A value above 1 suggests that more traders are aggressively buying ETH contracts than selling, while values below 1 indicate dominant sell pressure.

At 1.08, ETH’s taker buy-sell ratio clearly tilts in favor of buyers, reflecting increasing confidence among traders that prices may continue rising.

Moreover, the altcoin’s Relative Strength Index (RSI) continues to trend upward, supporting this bullish narrative. At press time, it is at 58.39 and climbing.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 indicating that the asset is overbought and due for a decline. Conversely, values under 30 signal that the asset is oversold and could witness a rebound.

ETH’s RSI reading confirms the strengthening bullish bias toward the altcoin, reinforcing the view that it could be primed for further upside.

ETH Builds Strength Above Short-Term Support

At its current price, ETH rests above its 20-day exponential moving average (EMA), which forms dynamic support below its price at $1,770.

The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When an asset trades above this key moving average, it signals short-term bullish momentum. This indicates that recent prices are trending higher than the average over the past 20 days. Traders often view this as a sign of underlying strength or an early uptrend.

Therefore, ETH could maintain its rally toward $2,027 if buying pressure gains momentum.

On the other hand, if buying activity wanes, the coin could lose recent gains, break below the 20-day EMA, and fall toward $1,385.

Sitting just below a significant descending resistance line that has limited XRP's upside since the beginning of 2025, the asset is about to enter a technically challenging phase on the charts. Following weeks of consolidation, the price has leveled off at $2.18 with volatility waning and trading volume gradually ceasing. Despite its seemingly insignificant appearance, this move frequently signals impending sharp price action in either direction.

Right now, XRP is stuck between the declining trendline resistance just above $2.20 and the 200 EMA support around $1.99. Momentum is neutral and there are no quick directional indicators when the RSI is around 51. The asset is coiling and a volatility explosion is about to happen, but the setup is obvious. Chart by TradingView">

XRP may move swiftly toward $2.50 and ultimately $3.00 if it breaks above the $2.22 resistance zone with accompanying volume, particularly if sentiment toward altcoins improves or if developments pertaining to Ripple take place.

The breakout led to a 40% move in less than a week when XRP last formed a structure like this in late 2023. It is not impossible for bulls to take control and make a similar run. However, if volume stays low and XRP is unable to sustain support at the $2.00-$1.99 region, a retrace toward $1.85 or even $1.70 is very likely. There are already indications of indecision in the price, and any weakness in the external market could make matters worse.

In this instance, a bearish continuation would be confirmed by the descending triangle breakdown. The continual lack of volume poses the greatest risk to either outcome because it indicates that no one is in a rush to buy and that it would take very little pressure to cause the price to move significantly in either direction. If volatility spikes back up with a lot of volume, XRP will likely take a side and move quickly. Since the chart is currently a ticking time bomb, $3 is not out of the question if the breakout goes in the bulls' favor.

TL;DR

Bitcoin is red hot again. Price reached $97,500 before dipping slightly lower to $97,000, and the markets are abuzz. Sellers anticipating Bitcoin’s upswing might be in for trouble. Figures reveal over $3 billion worth of short positions potentially being erased should Bitcoin move over the coveted $100,000 threshold.

Massive Short Positions Clustered Below $100K

According to Coinglass, there’s a heavy concentration of short positions across major exchanges like Binance, OKX, and Bybit between the $97K and $100K range. That cluster of bets against Bitcoin is now on shaky ground. A move past $100K could lead to a wave of liquidations totaling about $3.04 billion.

If Bitcoin goes even further—to approximately $105,000—liquidations may rise to almost $3.73 billion. At the last all-time high of $109,000, the figure may reach $4 billion. Short sellers who sold the market with high leverage are most vulnerable, and the heat is on.

Long Positions Cleared In Earlier Dip

While shorts are currently in the crosshairs, long positions already lost some ground. In a recent dip, longs saw much of the bullish bets get washed out. The aggregate leverage that supported long positions has declined drastically, according to the red trendline of long liquidations.

This leaves fewer overconfident buyers propping up the market, lessening the risk of an abrupt crash from long-side liquidation. The reset also leaves a cleaner path higher, as there is less resistance from leveraged longs attempting to hold their positions. Resistance Zone Between $96K And $98K

Bitcoin is now trading within one of its largest resistance zones. On-chain indicators on IntoTheBlock indicate that an estimated 1.06 million wallets purchased approximately 750,800 BTC between the $96K and $98K regions. That’s nearly $73 billion’s worth of Bitcoin at break-even for a good number of holders.

This region is significant. If Bitcoin manages to break above it, there will be less selling pressure in the way. The price may rise quicker with fewer hurdles between $98K and $100K.