Following heavy selling pressure, altcoins have started to recover their support levels as of June 25. Bitcoin’s (BTC) resurgence to $62,000 has helped altcoin investors minimize their losses, though the market is still far from the highs witnessed when BTC was at $72,000. Some altcoins have regressed to last year’s levels, prompting questions about the future trajectories of SHIB, FLOKI, and XRP.
What Is the Outlook for Shiba Inu?
Shiba Inu (SHIB) saw a significant drop on June 14, breaking below its parallel channel support and losing nearly 24%. Despite attempts to rebound, SHIB has not yet reclaimed this critical support level. If Bitcoin remains robust, the bulls may aim to recover the support at $0.0000209. Achieving this would be crucial for targeting higher peaks at $0.000038 and beyond. However, if SHIB lingers at its current levels, new lows between $0.000012 and $0.0000099 could be expected.
How Is FLOKI Coin Performing?
During its peak, many FLOKI Coin investors opted not to sell despite being in profit, only to realize later that selling at the highs might have been a wise move. Currently, demand at lower levels has been observed at $0.000149, with investors buying even during the most recent dip. The goal now is to achieve closures at $0.000198 and above. If the bulls succeed, targeting $0.0003006, the last hurdle before the all-time high, becomes feasible. However, excessive selling could push FLOKI Coin down to $0.000096.
Key Inferences for Investors
- Shiba Inu needs to reclaim the $0.0000209 support to aim for higher peaks.
- FLOKI Coin shows strong demand at lower levels, indicating investor confidence.
- XRP’s support at $0.48 is pivotal for future recovery.
What Are the Predictions for XRP Coin?
XRP Coin has not seen significant changes despite Bitcoin’s stability. The price has dropped back to $0.46, and it is attempting to reclaim the $0.48 support. Familiar price regions continue to dominate, reminiscent of levels discussed in September and October 2023. A sustained bull performance appears unlikely unless XRP turns the $0.58 level into solid support. If Bitcoin recovers, XRP could test this level and aim for higher resistances at $0.74 and $0.937. Surpassing $1.3 in market value terms, however, remains a challenging feat for XRP.
