Crypto analyst Egrag Crypto has advised XRP investors not to panic as they make their next move in the market. This came as he revealed levels to watch out for as the altcoin retraces alongside the broader crypto market. 

Analyst Advises XRP Investors Amid Market Correction

In an X post, Egrag Crypto told XRP investors, especially the newbies, that they should not let fear dictate their next moves. The analyst also commented on the current price action, stating that investors will see where the market settles by the end of the day. In line with this, he revealed levels that investors should keep an eye on. 

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The crypto analyst stated that if the XRP price maintains closures above $2.80, then it is still in a super bullish position. Furthermore, he claimed that a close near $2.65 keeps the altcoin within a strong structural formation. Meanwhile, Egrag Crypto also raised the possibility of a wick down to $2.34, which would represent a 30% retracement. 

Whatever happens, the analyst is still confident that the altcoin will rally to higher prices at some point. As such, he advised XRP investors to stay steady and strong, stating that they should soon fly, indicating another parabolic rally was on the horizon. However, in the short term, a steeper price correction might occur, according to crypto analyst Ali Martinez. 

In an X post, the analyst said that the Market Value to Realized Value (MVRV) ratio flashed a death cross for XRP, suggesting that a steeper correction could be underway. His accompanying chart showed that the altcoin could drop to the psychological $2 price level on this decline. 

In another X post, Ali Martinez said that the on-chain data shows that past accumulation behavior points to $2.80 being a temporary buffer for XRP. Meanwhile, the real support begins below $2.48. 

Long-Term Update For The Altcoin

In an X post, Egrag Crypto provided an update on his analysis of XRP’s 6-month chart. He noted that the altcoin has just less than five months left until this candle closes. Based on this, he questioned whether it can still make history by breaking the chasm of whether the top might already be in. 

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However, the analyst believes that the market top isn’t in and that the last leg for the XRP price is still imminent, something he claimed would be “epic.” Egrag Crypto stated that the Non-Log Scale measured move puts the altcoin at a market top of around $4.89. On the other hand, the Log Scale measured move shows a market top of $48.90. The analyst noted that he is adopting an average approach between the two targets. As such, he sees XRP reaching at least $27. 

At the time of writing, the XRP price is trading at around $2.97, up almost 5% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

Bitcoin (BTC) started the week in the red, falling to its lowest level in over a month. Amid this performance, some analysts consider BTC’s price will likely see another drop before the flagship crypto aims for new highs.

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Bitcoin Needs Daily Close Above $91,000

On Monday, Bitcoin shook off the weekend gains, dropping 5.8% to $90,300, its lowest price since November 18. The flagship crypto ended last week with an overall positive performance, nearing $96,000 and closing Friday above $94,000.

This performance was held throughout the weekend, with Bitcoin moving between the $93,700 and $95,900 price range the past two days. This week started with seven straight red 1-hour candles, dropping below $91,000 for the first time since the December 19 correction and dipping lower than the December 5 pullback.

However, Bitcoin bounced after dropping below this key level, recovering the recently lost mark. Crypto analyst Rekt Capital stated that BTC’s daily close will dictate the next move, suggesting it needs a close above $91,000 to confirm the reclaim.

The analyst explained, “Last week, Bitcoin was deviating beyond the Range High resistance of $101,000. This week, Bitcoin is potentially deviating below the Range Low support of $91,000.” He asserted that BTC closed above the $101,000 range high last Monday but failed to retest it into new support after the breakout, reverting to the $91,000-$101,000 range.

For this week, Rekt Capital added that even if Bitcoin closes the day below the $91,000 range low, it will likely need to turn that level into resistance for its price to drop into the $87,000-$91,000 range.

Nonetheless, he stated that Bitcoin generally needs to close above this key level to persevere in its current range but noted that “a lot can change through the day.”

Is A Dip To $87,000 Coming?

Rekt Capital highlighted that BTC’s monthly returns tend to be “patchy and predominately bearish” in January. As CoinGlass data shows, Bitcoin’s performance has been mostly bearish in January. Since 2013, BTC has started the year in red seven times, including 2025’s current performance.

According to the post, the market usually “picks up” in February. He added that the higher timeframe levels that are “teasing to be lost as support” are “likely to be reclaimed” in the future.

Meanwhile, Altcoin Sherpa considers that “1 last liquidation wick” is due before “we reverse for BTC.” The analyst also suggested that Altcoins are likely to drop another 30%-50% before the Altseason.

Similarly, Daan Crypto Trades pointed out that a “bunch of shorts have entered the market in the past few hours.” The trader noted that  “price just keeps slowly dribbling back down” as these positions are usually “punished” when bulls are in control.

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Daan explained, “At some point, the shorts will have to close out, but they probably won’t do so before pushing the market down further, combined with the spot selling from Coinbase.” And added that “the slow grinds down end in a violent wick, after which shorts take profit, and we see a (local) bottom.”

Additionally, the trader highlighted the similarities between BTC’s performance between December 2023 and January 2024 and December 2024 and January 2025. If history were to repeat, Bitcoin’s next move could be a correction to the $87,000 support, followed by a consolidation period in the new range.

As of this writing, BTC is trading at $91,700, a 2.9% decline in the daily timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com

Shiba Inu always responds to a massive burn and whale activity with a price pump

This entire year has been a roller coaster ride for the crypto market, but it has created better opportunities for the Shiba Inu coin (SHIB). The last few months have not been the best time period for Shiba Inu as the token’s value has been rapidly descending in the last five months. A large part of the problem was tied to a decline in burning volume that has been fueling the recovery of SHIB on the market. Luckily, the situation is finally changing. Massive token burns, large-scale accumulation activity by whales, and the rampant development in the SHIB Metaverse have increased the likelihood of a potential Shiba Inu price rally.

SHIB Token Burn

Over the past 24 hours, the SHIB burn rate surged as nearly 65 million Shiba Inu tokens were removed from the circulating supply. Around half of this sum of meme crypto was burned by the “Shib Super Store” platform that uses an Amazon affiliate program.

According to prominent burn tracker Shibburn, since the morning of Dec. 19, the joint efforts of the Shib army helped the circulating SHIB supply shrink by a total of 66,065,238 meme coins. That was quite a rise of over 111% from the approximately 30 million SHIB burned a day before. The two largest transfers to dead-end wallets here were those carrying 32,314,923 and 21,537,303 Shiba Inu.

In the past hour, there have been a total of 3,850,000 $SHIB tokens burned and 2 transactions. #shibarmy

— Shibburn (@shibburn) December 21, 2022

SHIB Whales will Dictate

Very recently, the number of Shiba Inu holders who are committed to the cryptocurrency for the long term has passed a significant historical threshold.

According to crypto analysis firm IntoTheBlock, long-term holders make up a cohort that includes all Shiba Inu investors who have been holding onto their SHIB tokens for at least more than a year. Data shows, Shiba Inu has made exceptional progress in this area since the start of the year, with the proportion of holders increasing from just 1% to a staggering 55%.

The token has also re-emerged on the list of the ten largest assets held by Ethereum whales, according to the digital wallet tracker WhaleStats.

Growing SHIB Metaverse

The SHIB metaverse which released earlier this year has evolved from being just a virtual landscape. Apart from enabling SHIB holders to buy and sell plots of land, users can also start earning rewards by playing games on the metaverse.

ShibaSwap, a successful decentralized exchange that enables users to purchase, sell, and trade assets, including non-fungible tokens, is powered by Shiba Inu (SHIB), a cryptocurrency that powers its operation. The SHIBOSHI NFT project, a collection of 10,000 distinctive NFTs, is also located in the Shiba Inu (SHIB) ecosystem.

Blockchain games with Play-to-Earn (P2E) components and a new metaverse are also part of the Shiba Inu (SHIB) ecosystem. The ecosystem also features a cutting-edge rewards program that enables users to generate passive income through decentralized finance (DeFi).

Furthermore, the new venture also intends to hold Grand Prix competitions where participants from all over the world can participate and compete for cryptocurrency rewards.