Shiba Inu (SHIB) Price Might Erase Zero, XRP Clears Path to $2.33, Cardano Jumps 14% – Crypto News Digest

Shiba Inu breaks from exhaustion pattern with 11% December rally

SHIB breaks out with an 11% run in a market frozen by extreme fear.

• SHIB rally. SHIB has kicked off December with an unexpected 11% gain over the past 10 days.

The biggest meme coin on Ethereum, Shiba Inu (SHIB), is starting December with a price pattern that refuses to match the exhausted narrative many attached to the meme coin over the past few months because, after shedding liquidity and sentiment for weeks, it suddenly posted an 11% gain across 10 days.

What makes this move more noticeable is the market backdrop, where the Fear and Greed Index still sits deep in fear territory at 22 after printing extreme fear at 16 yesterday and 15 last week. So, it is fair to say that SHIB pushing higher inside that environment tells you the asset is moving on chart mechanics rather than collective mood. 

Key price level. The daily chart shows SHIB reclaiming $0.00000899, breaking minor intraday resistance.

The daily chart shows SHIB climbing back to $0.00000899, punching through minor intraday resistance and closing with enough conviction to make even the most skeptical stare again at levels they dismissed as irrelevant just two weeks ago.

The setup forming on the chart is not textbook, but it is the kind of structure that often appears on assets that spent too long drifting under their own moving averages. This pattern sits right under the 23-day SMA at $0.00000863 and the 50-day SMA at $0.00000934, which are starting to converge into a zone that can either reject or propel SHIB depending on how strong the next impulse comes in.

XRP unlock clears path toward $2.33

Ripple pushed 1 billion XRP into circulation.

• XRP to $2.33. Ripple released 1,000,000,000 XRP from escrow in its standard monthly unlock.

Ripple pushed 1,000,000,000 XRP into circulation, a $2.19 billion unlock that looked like trouble on paper, yet the XPP price chart opened a direct path to the $2.33 zone.

As always happens in the first week of a new month, Ripple, the San Francisco-based crypto solutions company known primarily for its association with XRP, released a large portion of the coins from its escrow accounts — 1,000,000,000 XRP to be exact, according to Whale Alert. 

• More XRP releases. Ripple still holds 34.47 billion XRP in reserves.

Valued at just over $2.19 billion at press time, such a large volume of cryptocurrency flooding the market, of course, attracted all the attention to the price chart of XRP.

For those not familiar, Ripple conducts such escrow unlockings each month to gradually release XRP vaults, keeping the pressure off the price. First, the company releases one billion XRP, then some of it gets locked back in. The numbers vary, but recent trends indicate that around 600 million XRP make it back to Ripple’s escrows. With 34.47 billion XRP still in the company’s reserves, this monthly routine process is far from over.

Cardano reclaims $0.45 with 14% rally

ADA price jumps to a new high around $0.44 as key metrics signal more uptrend.

• Market recovery. Cardano (ADA) jumped 14%, reclaiming the $0.45 level.

Cardano (ADA) stunned bears, soaring by 14% to reclaim the $0.45 price level as the broader cryptocurrency market posted a slight recovery. Cardano is, however, outperforming the broader crypto market, and there are indications that the current price is not the top for the coin.

Cardano has flashed several bullish indicators that suggest it could be up for more uptrend. Primarily, its trading volume has increased by 48.11% to $969.06 million. This renewed interest from market participants might support further rallies.

• Key price level. ADA regained the $0.44 resistance level.

Additionally, the asset’s technical chart reveals that ADA has reclaimed the critical resistance of $0.44. With Cardano changing hands above this resistance and trading volume high, a sustained momentum could help stabilize ADA’s price above this level.

Cardano’s Relative Strength Index (RSI) is at 41, which signals that the coin has exited oversold territory. Traders are treating this as a positive signal of a price reversal for higher levels and could influence their investment pattern and engagement with the coin.