Cryptocurrency Drama Unfolds: Ripple Square Off with Litecoin, Shiba Inu (SHIB) Rapidly Approaching Oblivion, XRP Warned About Bollinger Trap in Latest Crypto News Review
In the dynamic world of cryptocurrencies, two popular digital assets, XRP and Shiba Inu (SHIB), are currently facing some challenges, while Ripple and Litecoin continue their ongoing debate.
Currently, XRP is trading around $2.81, slightly under its Bollinger Bands' midline. However, weekly support for XRP remains at $2.60. Despite repeated attempts to reach its upper resistance, these efforts have resulted in instability, with the coin currently closer to the middle of its Bollinger Bands in the monthly candles, indicating a cooled market.
The price of SHIB is currently at $0.0000123, but the coin is trading with significantly lower volume compared to August. The weak support at $0.0000120 may lead to a potential loss of relevance, and a breakdown of SHIB's support could lead to a price drop to $0.0000100. Resistance for SHIB remains at $0.0000130-$0.0000132, but support is weakening. The coin is currently stuck in a narrowing triangle and is at risk of becoming nonexistent.
Meanwhile, Ripple's CTO, David Schwartz, has argued that XRP is more energy-efficient than Litecoin. This latest controversy follows an earlier incident where Litecoin's official X account made fun of Ripple CEO Brad Garlinghouse. The Litecoin camp defends proof-of-work as the "real" way to create coins.
In a public disagreement over XRP's value, Ripple CTO David Schwartz and Litecoin influencer Jonny Litecoin exchanged words. Notably, two major benefits of XRP, one of which is worth $169 billion, were revealed.
On a positive note, a new XRP ETF proposal has been filed. The most recent XRP-ETF proposal was submitted by Tidal Trust II, which filed an application for a leveraged XRP-ETF with the SEC, offering an engagement of 150%-200% with a yield strategy.
Unfortunately, no new facts were provided for ADA in the given paragraph. As always, it's essential to stay informed and make informed decisions when investing in the cryptocurrency market.
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