- Summary:
- With bullishness building up in the crypto market, we present a case to hold XRP and buy more Shiba Inu and Solana.
Table of Contents
A degree of bullishness has returned to the cryptocurrency market this week, with the market capitalisation rising from $1.9 trillion to $2.2 trillion as of this writing. While this is a market-wide recovery, some assets hold a greater potential than others. We look at the fundamentals around XRP, Shiba Inu and Solana prices and why they are among the top crypto assets that could move upward in the coming days.
Solana
Solana price has been on a hot streak since Wednesday and seems likely to continue the trajectory as market sentiment improves. SOLUSD hit a 24-day high of 152.41 at the time of writing, having gained more than 14 percent in the last three days. Solana’s move to establish a meme coin launch pad, FunPump generated a substantial uptick in blockchain activity.
The cryptocurrency has risen by 48 percent year-to-date, comparing favourably with Bitcoin’s 49 percent rise. Looking ahead, Solana’s fundamentals have favour steady growth in the coming weeks. The Solana Mobile team announced a new Web3-centric smartphone, Seeker, on Thursday, hailed as a major upgrade from its premier smartphone, Saga, which hit the markets last year.
Set to hit the shelves in mid-2025, Seeker has reportedly hit it off with customers, with more than 140,000 pre-orders placed. The phone is wider and more feature-rich than Saga, and will retail at $450, about half of what Saga initially cost at launch. By integrating its token ecosystem with hardware, Solana has cut a niche that strengthens its fundamentals and will help keep SOL price stable.
Solana price today
Solana price momentum favours the upside if action stays above the 144.70 pivot mark. That will likely send SOLUSD up to 153.00 where the uptrend will likely meet initial resistance. Above that level, the momentum could take the pair to 160.75 to encounter the second resistance.
Conversely, the sellers will take control if Solana price moves below 144.70. That will likely establish the first support at 137.60, but extended bearishness could break below that level. At that point, the upward narrative will be invalid, and the resulting momentum could take the price to test 131.25
XRP
XRP price inched up marginally on Thursday, gaining 0.1 percent to trade at $0.588. The crypto asset’s performance has been subdued by the SEC vs Ripple case that has been ongoing since December 2024. However, the case took a significant turn in early August when the SEC lost the foundational elements of the case.
A case to hold XRP
Ripple Labs was ordered to pay $125 million civil fine, which was seen as a slap on the wrist compared to the $2 billion sought by the SEC. XRP has gained 4 percent in the last week, with the gains attributable to market-wide positive momentum around Fed interest rate decision making. However, the volatility in XRP price could spike in the coming days as we approach the October 7 deadline date for the SEC to appeal.
The absence of a definitive legal regulatory framework for the use of digital assets as securities has put the SEC in a weaker position against Ripple Labs and could prove costly if the case extends. The SEC has also encountered headwinds in Congress this year, the one place where it needed support to have a strong standing.
Therefore, as things stand, this could play out in favour of XRP prices heading into October. As many traders are likely to tame their appetite for XRP before the appeal deadline, the crypto will likely trade sideways in the near term. That also presents a good entry point to buy XRP as long as it stays above key support levels discussed in the analysis below:
XRP forecast today
The momentum on XRP calls for further downside, as shown by the Stochastic Oscillator on the 30-minute chart. With the pivot mark at 0.590, the downward action will likely find initial support at 0.585. However, extended bearishness could break below that level to test 0.580.
On the other hand, moving above 0.590 will signal bullishness, with the next resistance likely to come at 0.595. Further bullish control at R1 could break above that level to invalidate the downside narrative and propel XRPUSD upward to test 0.598.
Shiba Inu
Shiba Inu has yet to repeat its heroics of yesteryears, but it has firmly established itself as an OG meme coin alongside Dogecoin. Despite losing some of the limelight to new-age meme tokens like PEPE, BONK and DogWifHat, Shiba Inu has built up a loyal fanbase that has stuck with it through the ups and downs.
Furthermore, the Shiba Inu development team has been quite innovative by bringing new utility to its ecosystem, so much so that it’s almost lost to the crypto community that SHIB is a meme coin. The launch of the K9 Liquid staking platform this week will involve staking Shibarium’s $BONE token. In turn, it will boost Shiba Inu price by increasing the transaction volume and Total Value Locked (TVL) on Shibarium, Shiba Inu’s Layer-2 blockchain.
Shiba Inu price prediction
SHIB price will likely have bullish momentum above 0.0000144, with the first resistance likely to be at 0.0000147. In addition, a stronger bullish momentum will likely go over that hurdle and test 0.0000148.
On the other hand, a move below 0.0000144 will put the sellers in charge. The downward momentum could initially find support at 0.0000142, but a stronger selling momentum could breach that level. That will invalidate the upside narrative and could take the action lower to test 0.0000140.
