Cryptocurrencies Price Prediction: Shiba Inu, Ripple & Chiliz – Asian Wrap 16 April

Shiba Inu Price Forecast: On-chain data raises bull trap risks

Shiba Inu (SHIB) price nears key resistance level, trading at $0.0000060 as of writing on Thursday, which dictates the next directional move. On-chain data metrics suggest a bearish outlook, as a surge in dormant wallet activity alongside spikes in the Network Realized Profit/Loss (NPL) indicator and trading volume. Traders should remain cautious as downside risks appear to outweigh short-term recovery.

XRP recovers on Solana cryptic video hints at a partnership

Solana (SOL) hints at a potential collaboration with Ripple (XRP) with a short, cryptic video release featuring both their logos and the caption “XRP.” The anticipation among investors drives a surge in demand for XRP and SOL derivatives. Technically, XRP and SOL trade below their 50-day Exponential Moving Average (EMA), testing an upside breakout.

Crypto Overview: Markets hold as US-Iran mull truce draw out – Chiliz and Morpho extend gains

Chiliz holds a constructive bullish bias as price has reclaimed the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) clustered just under $0.0390. This recovery above the EMA stack suggests underlying demand is rebuilding after the recent pullback. The Relative Strength Index (RSI) at 59 remains in positive territory, yet it has not yet signaled overbought conditions. The Moving Average Convergence Divergence (MACD) has resurfaced above its signal line, hinting that upside momentum is re-emerging.