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<p dir="ltr">Ripple-associated XRP and Shiba Inu (SHIB), two reputable digital assets in the crypto space, are showing unusual correlations in key metrics. According to CoinMarketCap’s&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">data</a>, both XRP and SHIB are currently in rebound mode in line with the broader market.</p>
<h2 id="parallels-between-xrp-and-shib">Parallels between XRP and SHIB</h2>
<p dir="ltr">Analyzing the current trend in the XRP and SHIB charts shows parallels in the trading patterns of the digital assets. First, the growth in their prices is following a similar movement. Both XRP and SHIB are currently in the green, with a 24-hour price increase of 3.4% and 2.4%, respectively.</p>
<p dir="ltr">Additionally, their 24-hour trading volume is also following a similar pattern. SHIB’s volume dropped by 54%, while XRP's fell by 42.7%. Despite the declining momentum from investors, it can be deduced that a sustained rebound is on the horizon for both altcoins.</p>
<p dir="ltr">At press time,&nbsp;<a href="https://u.today/opinions/shiba-inu-shib-expecting-something-big-this-week" rel="noopener noreferrer nofollow">SHIB</a> is trading at $0.00001368, with a market capitalization of over $8 billion. The next crucial support level for SHIB is at $0.0000138. A break above this level could cause a further price rally for SHIB. On the contrary, SHIB’s price may experience a sharp decline if it falls below the support level.</p>
<h2 id="xrp-yet-to-recover-fully">XRP yet to recover fully</h2>
<p dir="ltr">Despite its recent price jump to the $0.5 mark, XRP has not recovered fully on all key metrics. For instance, investors’ sentiments on XRP remain bearish. Moreover, the Crypto Fear &amp; Greed Index shows “Fear,” while volatility remains “Very High.”</p>
<p dir="ltr">Recall that&nbsp;<a href="https://u.today/opinions/xrp-price-sell-off-what-to-expect-this-week" rel="noopener noreferrer nofollow">XRP’s price</a> declined by 15.25% on the heels of broader market volatility. As a result, the cryptocurrency erased all the gains it had secured over the past two weeks.</p>
<p dir="ltr">Another factor that contributed to the uproar in the XRP market is the uncertainty in the case between Ripple and the U.S. SEC. Investors anticipated that a resolution of the case would bring about legal clarity for XRP.</p>
<p dir="ltr">Their hopes were, however, dashed upon the postponement of a closed-door meeting, leading to a decline in XRP’s price.</p>

XRP and Shiba Inu (SHIB) Show Unusual Correlation: Details

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