Crypto Crisis: Shiba Inu Screams for Help, Ethereum’s $4K Dream Dies!

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This week has seen a significant decline in XRP‘s on-chain activity, as evidenced by recent data showing that payment volume, a key measure of network utility, has dropped by almost 70% 🤯. Imagine a pizza delivery app that suddenly decides to deliver only salads-XRP’s on-chain activity is now drier than a desert in a drought! 🌵

XRP transfers between accounts have drastically decreased, according to metrics from over 700 million daily transactions at the beginning of October to about 230 million by the end of the month. It’s like watching your favorite TV show get canceled after one season. 📺💥

The decrease in payment volume points to either a short-term slowdown in remittance or institutional activity, or a more widespread drop in organic usage as the token tries to recover its market share. XRP’s on-chain metrics have historically experienced prolonged declines in tandem with periods of price stagnation, and the current situation appears to be no exception. It’s like a broken record, but even the record is playing in reverse. 🎶📉

Technically speaking, XRP is currently trading at about $2.49, just above short-term support but still below significant resistance levels, indicated by the 100-day and 200-day moving averages, which are respectively at about $2.78 and $2.81. XRP’s price is as stable as a toddler on a trampoline. 🧸_trampoline

Momentum is still weak, as indicated by the RSI near 45, which shows a neutral position but leans slightly toward bearish territory. The RSI is as neutral as a librarian at a rock concert. 📚🎸

The $2.40-$2.35 area is still important as short-term support for the time being; if it is lost, there may be another correction toward $2.10 or even lower if selling pressure increases. XRP’s support levels are as reliable as a conspiracy theory. 🤡

Shiba Inu not feeling good

As the larger cryptocurrency market steadies, Shiba Inu is still having trouble and is not showing any signs of improving. SHIB is like a sad puppy who lost its squeaky toy. 🐶💔

SHIB is still trapped in a long, descending channel that has dominated its price action for months, with its current price hovering around $0.0000099. It’s like watching a glacier melt in a sauna. 🧊🔥

Even worse is the overall technical picture, which shows that SHIB is trading far below its 200-day and 100-day moving averages, which have both served as formidable resistance since September (roughly $0.0000128). SHIB’s moving averages are as stubborn as a mule with a PhD. 🐴🎓

At 41, the RSI shows no indications of bullish divergence or weak momentum. Additionally, volume has decreased in comparison to previous spikes, suggesting that market players are becoming disinterested, and that volatility is waning, which frequently signals the start of a subsequent decline. SHIB’s volume is as lively as a zombie at a party. 🧟‍♂️🎉

The next logical support is located close to $0.0000075, where buyers previously intervened during the previous sell-off, if SHIB is unable to hold above that level. Shiba Inu’s ecosystem has essentially slowed down, and on-chain data indicates that big holders have not accumulated much. There is little chance that the token will change its direction anytime soon, unless there is a catalyst or new demand. SHIB’s ecosystem is as active as a couch potato on a Monday. 🛋️

Ethereum loses $4,000

Ethereum is currently trading just below the crucial $4,000 mark, which is both a technical and psychological barrier that may determine the course of the market’s future. ETH is like a kid trying to open a jar of pickles. 🍊💪

Encircled by the 200-day and 100-day moving averages, the daily chart shows Ethereum’s continuous consolidation between $3,600 and $4,200. Throughout the year, these levels have served as both launch pads and rejection zones. ETH is currently holding onto support close to $3,600, which has kept a more severe breakdown at bay thus far. Ethereum’s support is as strong as a tissue in a hurricane. 🌪️🧻

Market caution persists, though, as any decline below this level could expose ETH to a retracement toward $3,400. Momentum measures like the RSI, which is circling 44, are neutral but bearish, indicating that purchasing power is still low. Volume has also decreased, suggesting that traders are unsure and are awaiting a signal. ETH’s volume is as lively as a library at midnight. 📚🌙

The crucial $4,000-$4,200 range would need to be reclaimed to signal that bulls are taking back control, and could pave the way for $4,500-$4,800, particularly if Bitcoin stays stable above $110,000. Ethereum’s weakness in comparison to Bitcoin, which has been a recurring theme throughout October, would be confirmed by further rejection around $4,000. ETH is as weak as a wet noodle in a tornado. 🍜🌪️

When money moves into BTC and large-cap altcoins with greater momentum, ETH may stay range-bound or gradually decline. Investors should not panic but rather exercise patience during this time. Although the structure is still in place, Ethereum must close above $4,000 with volume in order to return to a bullish outlook. Until that time comes, ETH is balancing between holding onto support and entering another corrective phase, which makes the $4,000 breakout crucial. Ethereum’s breakout is as likely as a penguin learning to fly. 🐧✈️

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2025-11-01 09:31