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The market is in a period of stabilization that can turn into a good foundation for a recovery. Unfortunately, however, there is a strong possibility that the growth of XRP, fueled by the period of ETFs, the stabilization of Bitcoin and the return of Shiba Inu, it ended as quickly as it began.
Shiba Inu gives up
The price action over the last sessions finally shows some signs of life, as Shiba Inu tries to break out of a months-long downward trend. SHIB recovered almost immediately after falling into the lower range of $0.0000090, reversing the sell-off faster than most anticipated. When buyers are quietly taking whatever they throw at them and sellers are running out of fuel, you don’t see that kind of quick recovery around a local plan.
The 50-day, 100-day, and 200-day moving averages are all stacked above the price and continue the downward slope, and SHIB is still trading below these major moving averages. From a structural perspective, this indicates that the general trend has not changed yet. However, prices behave differently. Even when Bitcoin Volatility PeaksSHIB keeps the bass higher and refuses to collapse instead of gradually bleeding out. Long before the averages hit, this kind of resilience at the bottom of a range typically marks the beginning of a trend reversal.
The volume is not over, but it is stable and does not show the panic that comes with the real surrender. What is more crucial is the absence of exchange flows. Whales and long-term holders are not preparing for a significant selling event because there is no wave of tokens moving from wallets to exchanges. Look on the quiet side on the chain if something points to the accumulation instead of coming out.
Is this the start of a bull market? The foundation is there, but it’s too early to say for sure. SHIB showed its ability to protect the region below $0.0000095, bounce cleanly and sustain the momentum long enough to exert pressure on the resistance above.
SHIB has enough structural support to stage a move towards the $0.0000105-$0.0000110 cluster, which is the first real indication that a bullish cycle is trying to form if the market offers even a slight window of risk.
Will XRP ETF save the day?
With lower highs, lower lows and a consistent decline through its major moving averages, XRP has been steadily declining over the past few months. This type of structure takes time to relax under normal conditions. However, the current XRP ETF craze is adding enough momentum outside to possibly break the pattern much faster than the chart itself would indicate.
With issuers such as Franklin Templeton, Bitwise, 21Shares, CoinShares and Grayscale in line for regulatory rulings, the industry as a whole is witnessing an increase in filings and review windows in November. The technical pessimism has been largely overshadowed by the narrative that institutional capital or real regulated capital is soon to rotate in XRP.
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On the chart, the change is already taking shape. XRP has recovered the short-term trend line it broke earlier in the month, and buyers aggressively stepped in near the $2.30 area. The price returned to the $2.45-$2.50 range, directly below the moving average cluster that had served as a lid thanks to the strong rebound.
These MAs usually continue to reject the price, but the sentiment influenced by ETFs alters the situation. Resistance softens when market players anticipate institutional flows because sellers are reluctant to make a potentially disruptive move.
All this does not ensure an immediate encounter. However, the ETF cycle is a real structural catalyst that is powerful enough to exceed purely technical expectations. The remaining credibility of XRP’s downtrend is lost if the files go well and even a significant issuer passes the early review window. The bearish structure can be invalidated by the market price in external demand.
Bitcoin open interest removed
Over the past day, Bitcoin has cleared $1.63 billion in open interest, which is a huge flush-out by any measure. This type of decline would typically be a warning sign that things are about to get worse. When open interest collapses, it typically indicates that momentum is declining, liquidations have occurred on both sides and traders are leaving aggressively.
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However, the market did not collapse this time. Rather, BTC immediately recovered from the growing short-term support it had built since the sell-off in early November. That jump counts. One of the clearest indicators that the market is derisking rather than collapsing is a significant elimination of OI combined with price stability.
Bitcoin becomes fragile when open interest remains excessively high for a period of time; a single abrupt move can cause a chain reaction of liquidations. Now that leverage has been removed, the chart looks much more stable than it did a week ago.
Buyers defended the $100,000-$102,000 range, creating a significantly higher low. Rebuilding a bullish structure starts with protecting a base, lowering the price and then pushing into resistance with cleaner momentum.
