NEAR Protocol is showing renewed strength as it surpasses the psychological $2.00 threshold, while XRP and two leading memecoins, Dogecoin and Shiba Inu, remain subdued below their important resistance levels.
NEAR Protocol breaks $2.00, signals recovery
After consolidating between $1.80 and $2.00 for several weeks, NEAR Protocol, a blockchain network designed for scalability and developer-friendly decentralized applications, managed to move above the $2 mark. NEAR now trades above its 50-day, 100-day, and 200-day moving averages, a technical alignment considered positive during market recovery cycles.
Buyers defended the $1.80 range, which aligns closely with the 200-day moving average. From this support, the price gradually moved higher, even though trading volume remains below levels seen during NEAR’s rally in May. This suggests the uptrend is stabilizing but not yet strong in momentum.
The asset faces immediate resistance near $2.10, where the 100-day moving average sits, and a successful move above may target $2.30 or higher. The Relative Strength Index (RSI) has moved above 50, a sign that bullish sentiment is returning.
| Asset | Current Price | Key Resistance | RSI | Trend |
|---|---|---|---|---|
| NEAR | $2.05 | $2.10 | Above 50 | Recovery |
| XRP | $1.09 | $1.15 | 47 | Bearish |
| SHIB | $0.0000042 | $0.0000045 | 36 | Bearish |
| DOGE | $0.076 | $0.083 | – | Bearish |
Market structure for NEAR has improved as the asset holds above all major trend indicators, even as trading volume stays modest compared to the last major rally.
XRP struggles beneath major moving averages
XRP, the digital asset associated with Ripple’s global payments network, remains in a prolonged corrective phase. Trading around $1.09 and below its 50-day, 100-day, and 200-day moving averages, XRP continues to face resistance between $1.11 and $1.15. Recent attempts to recover have stalled at these levels, with no significant price reversal established.
The chart displays lower highs and lower lows since June, characterizing a persistent downtrend. Although XRP has not formed new lows, buyers have not generated enough strength to test the crucial $1.15 resistance zone. Its RSI stands at 47, indicating neutral momentum.
For a brighter outlook, XRP must reclaim the 50-day moving average and hold above $1.12. Until that happens, the asset remains under corrective pressure.
Memecoins Dogecoin and Shiba Inu continue in correction
Dogecoin and Shiba Inu, two of the leading memecoins, are both struggling below key trend indicators. Dogecoin is trading well beneath the $0.076 to $0.083 resistance band and critical moving averages, unable to fully recover from a significant breakdown that began in June.
Meanwhile, SHIB faces even greater technical challenges. The token is trading at $0.0000042, staying below its main moving averages. Several attempts to break through resistance have failed, and each breakout has met with fresh selling pressure. Despite a short-lived improvement in early July, both sentiment and trading volume have faded.
SHIB’s RSI is now near 36, just above oversold levels. Historically, such conditions have sometimes led to brief rallies, but the token needs to reclaim the 50-day moving average before a sustained recovery could develop.
Both memecoins are suffering from exhausted demand, with declining volumes and fewer signs of aggressive selling. Dogecoin continues to print lower highs, and its RSI has only partially recovered from oversold conditions. Neither asset is attracting large inflows of new capital.
If DOGE cannot regain the area above $0.076, and SHIB fails to move past $0.0000045, both are likely to remain in a corrective pattern despite reduced selling pressure in recent weeks.
Volume spikes seen during June’s breakdown in these assets have not reappeared, indicating a lack of conviction from sellers but also insufficient buying interest to trigger major rallies.
Both Dogecoin and SHIB need to overcome several technical obstacles before a full trend reversal becomes likely. Their major moving averages remain as significant resistance, and only a clear move above these levels would change their market outlook.
