Cryptocurrency Market in Flux: Ethereum, XRP, and Shiba Inu Face Crucial Tests

The cryptocurrency market continues to face significant volatility as Ethereum's price teeters on the brink of collapse. With the asset currently trading near the $1,885 mark, investors are holding their breath as they await a crucial decision that will determine the direction of the market.

Ethereum's technical structure is bearish, with the asset trading below its major moving averages and struggling to regain momentum. The recent breakdown from previous consolidation ranges has led to increased selling pressure, making it difficult for buyers to establish a strong base.

Meanwhile, XRP is also facing challenges as its price continues to inch closer to the $1 threshold. With the asset trading below its important moving averages and unable to produce significant recovery momentum, the overall trend remains bearish. The recent rebound has been weak, and it's uncertain whether the price will continue to decline or stabilize.

Shiba Inu is also struggling to regain momentum as its price continues to trade below its major moving averages. The asset's recent bounce is seen as a pause rather than a genuine recovery, and the lack of strong buying conviction makes it difficult for investors to build confidence.