Bitcoin Stalls After Printing Golden Cross, XRP Perched on a Precipice

The price action of Bitcoin is exhibiting signs of weakness and hesitation even though it printed a golden cross. The price of the flagship cryptocurrency is currently down a little to $95,484 after recently rising toward $96,000 with little to no follow-through momentum. Despite its positive symbolism, the golden cross has not generated the institutional interest or volume spike that would normally be required to start a long-lasting rally.

BTC may be approaching an overbought zone with little strength to push higher in the near future as evidenced by the volume already waning from the April breakout and the cooling RSI near 64. Investors may need to lower their expectations if they are anticipating a spectacular breakout. Given its current price structure, which points to a stall, Bitcoin may easily revert to the $91,000 support zone if momentum doesn't pick up quickly.

From a structural perspective, it is technically encouraging that Bitcoin has regained all of the major EMAs (50, 100 and 200). The absence of buying pressure following the breakout, however, is concerning. The macro environment continues to be significant. ETF flows have subsided following the large inflows at the start of May, and overall market sentiment is still risk averse as a result of macroeconomic uncertainty.

The price of Bitcoin could consolidate between $91,000 and $96,000 in the absence of new catalysts. Traders should keep a close eye on the $91,000-$90,000 level in the near future. The recent bullish structure may be invalidated by a breakdown below this zone, but bullish momentum may be reignited by a clean breakout above $97,000 with fresh volume.

Shiba Inu's questionable volume

The concerning decline in trading volume might seriously impair Shiba Inu's short-term price momentum. The meme token is now trading slightly above the $0.00001296 threshold as its daily volume has decreased sharply, reaching some of the lowest levels in recent weeks. Volume is frequently used as a proxy for investor interest and purchasing pressure, and SHIB's present trajectory is a serious warning.

As the chart shows, SHIB recently tried to move above substantial resistance levels, but any gains were quickly stopped by the lack of follow-through volume. With momentum decreasing and the Relative Strength Index (RSI) approaching neutral territory, SHIB now appears to be gradually moving toward the 50-day EMA, which is located at the $0.00001274 level. The closest line of support for this EMA may briefly halt the decline, but the bigger picture shows a more serious problem.

The sudden drop in volume is a sign to be aware of. Without enough trading activity to support price changes, we can anticipate future attempts at recovery to be short-lived or perhaps fail completely. This kind of volume collapse has historically been followed by sideways movement or further declines in assets like SHIB, especially when there are no strong catalysts present.

The $0.0000120-$0.0000118 area would be the following logical zone if SHIB were to lose the 50 EMA support. Technically speaking, a bounce from the current configuration is still possible, but the odds are more likely for consolidation or further retracement than for a new lead.

XRP is not stable

XRP is hanging by a thread. The asset is showing signs of weakness as it consolidates within a narrowing range despite remaining above the $2 threshold. The flattening volume and the visible descending channel create a classic volatility squeeze, which has been known to generate sharp directional moves. The problem is that the direction of XRP's breakout is unclear.

With its current price around $2.19, XRP is dangerously close to a major support level. A drop below $2 might spark a deeper retracement, pushing the asset towards the 200 EMA at $1.99. There doesn't seem to be any momentum as the RSI remains neutral around 51. The lack of activity in the market is due to traders awaiting a catalyst to intervene, as evidenced by the dry spell in volume.

However, this low-volatility environment is collecting potential energy. If XRP manages to obtain a daily close above $2.25-$2.30 and breaks above the upper boundary of its descending channel, the next psychological and technical target would be the $3 mark. The contradictions in XRP's signals are the problem. The price action's consolidation may result in the formation of a bullish continuation pattern.

But the lack of volume and the failure to generate long-term momentum after previous rallies are causes for concern. The $3 target is possible but not guaranteed given the macroeconomic uncertainty and XRP's internal resistance levels.