Cryptocurrency Market Review: Bearish Trend Continues for XRP, SHIB, and DOGE

The cryptocurrency market has been experiencing a prolonged downtrend, with several assets struggling to regain momentum. XRP, in particular, has been facing significant challenges in maintaining support at the $1.45-$1.50 level.

Despite a brief attempt at a recovery rally, XRP's price was rejected by strong selling pressure, indicating that sellers are still in control. The asset's inability to establish a bullish continuation and its failure to recover higher levels have led to a persistent downtrend characterized by lower highs.

The situation is similar for Shiba Inu (SHIB), which has been unable to overcome significant resistance zones despite forming a short-term ascending pattern. The asset's price remains below its 50-day exponential moving average, and every attempt to push higher has been met with fresh selling pressure.

Dogecoin (DOGE) is also under persistent bearish pressure, with its price trading below all significant moving averages. A crucial price reset point has been identified at $0.08, which the asset may retest if the current structure continues to deteriorate.