SHIB, DOGE, XRP Price Analysis: Predictions for the New Week

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SHIB, DOGE, XRP Price Analysis: Predictions for the New Week
  • A death cross on the 4-hour chart signaled that SHIB could drop to $0.000022.
  • DOGE’s price might climb to $0.18 due to the increasing RSI and CMF readings.
  • With non-existent buying pressure, XRP might plunge to $0.52.

A lot of eyes might be watching some of the top cryptocurrencies as April approaches its last days. For a large part of the month, most of the top assets traded sideways. While some averaged an increase, others have managed to cope with a decline.

Here’s an analysis of the prices of Shiba Inu (SHIB), Dogecoin (DOGE), and Ripple (XRP).

Shiba Inu (SHIB)

SHIB flashed a bearish signal after Coin Edition evaluated the 4-hour chart. Our analysis focused on the Exponential Moving Average (EMA). As of this writing, the 20 EMA (yellow) had crossed over the 9 EMA (blue)— a death cross.

Furthermore, SHIB’s price was trading below the indicators, suggesting a waning strength for the token. To put it into perspective, SHIB’s price might decline to $0.000022 within the next few days.

However, if somehow buying pressure for the token increases, the bearish prediction could be invalidated. 

SHIB/USD 4-Hour Chart (Source: TradingView)

But if the structure remains the same, SHIB might be at risk of plunging further as bulls would need to defend the $0.000022 support. Failure to do that might result in capitulation which could lead the price to slip below $0.000020.

Dogecoin (DOGE)

DOGE  changed hands at $0.14 at press time. This value was a result of the underwhelming performance of the coin since it rose to $0.22 in March. This performance led the coin to hit an oversold point as indicated by the Relative Strength Index (RSI).

DOGE/USD 4-Hour Chart (Source: TradingView)

However, the RSI reading improved from what it was on April 25. This suggested that buying momentum might be returning for DOGE. But that would not be concrete unless the indicator moves above 50.00.

Should this happen, DOGE’s price might increase and tap $0.18. Like the RSI, the Chaikin Money Flow (CMF) reading also increased. This increase was a sign that capital flowing into Dogecoin has improved, and could serve as a bullish catalyst for the price.

Ripple (XRP)

For XRP, all doesn’t seem to be well with the token. Though the price traded at $0.52, the Supertrend showed that the move above the level could be hindered by a sell signal at $0.54. If this is the case, XRP’s price might drop back to $0.50.

XRP/USD 4-Hour Chart (Source: TradingView)

In addition, the Elder Force Index (EFI) indicated a similar bias. As of this wrting, the EFI stalled, indicating that buying pressure was almost non-existent. Going forward, this might remain the case and XRP might have no other option than to decrease.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.