While the top cryptos exhibited mixed trading signs, the overall market noted a marginal plunge over the past day. Besides, XRP hit its two-month high on 10 November, whereas Loopring touched its ATH on the same day.
Near-term technicals for both the alts favored a correction by hinting at decreasing buying power. On the other hand, Shiba Inu bulls showed revival signs post a 37.5% retracement since its ATH.
XRP
Source: TradingView, XRP/USDT
Over the past 15 days, XRP enjoyed a sustained rally after swinging in an ascending parallel channel. The seventh-largest crypto registered an approximately 14% ROI in the past two weeks. Moreover, XRP bulls refused to withdraw as the price action breached its immediate resistance. Consequently, the price hit its two-month high on 10 November.
However, as bears ensured resistance at the upper trendline, price retraced between the channels. This pullback dragged the prices below the 20-50 SMA, demonstrating a near-term bearish inclination. Now, as bulls again try to breach the $1.226-mark, the near-term technicals favored the sellers. At press time, XRP traded at $1.1965 after noting a nearly 2% loss in 24 hours.
The RSI was at the 44-mark and was descending. Further, the bearish divergence along the RSI and price action affirmed the selling vigor. Also, the MACD and AO readings agreed with the previous analysis. Nevertheless, the ADX displayed a weak directional trend.
Shiba Inu (SHIB)
Source: TradingView, SHIB/USD
The dog-themed token undertook an instantaneous uptrend from 23 October. The price action rallied by over 200% over the next five days to reach its ATH on 28 October. After which, the price retreated in a descending triangle below its immediate resistance as it saw a pullback.
Since its ATH, the crypto noted a 37.5% loss in the correction phase. However, the crypto was still
