• Shiba Inu bails out
• Will XRP ETF save the day?
• Bitcoin's open interest wiped out

The market is within a period of stabilization that can turn into a good foundation for a recovery rally. Unfortunately though, there is a strong possibility that XRP's growth, fueled by the ETF period, Bitcoin's stabilization and Shiba Inu's rebound, will end as swiftly as it began.

Shiba Inu bails out

The price action over the past few sessions finally shows some signs of life, as Shiba Inu attempts to pull itself out of a months-long downtrend. SHIB recovered nearly instantly after falling into the lower $0.0000090 range, reversing the sell-off more quickly than most anticipated. When buyers are silently taking in everything thrown at them and sellers are running out of fuel, you do not see that kind of quick recovery around a local floor.  

The 50-day, 100-day and 200-day moving averages are all stacked above the price and continue to slope downward, and SHIB is still trading below these major moving averages. From a structural perspective, this indicates that the overall trend has not changed yet. However, prices are behaving differently. Even when Bitcoin volatility spikes, SHIB is holding higher lows and refusing to collapse rather than bleeding out gradually. Long before the averages catch up, this kind of resilience at the bottom of a range typically marks the beginning of a trend reversal. 

The volume is not blowing up, but its steady and does not exhibit the panic that comes with true surrender. What's more crucial is the absence of exchange inflows. Whales and long-term holders are not getting ready for a significant sell event because there is not a wave of tokens transferring from wallets to exchanges. Look at the quiet on-chain side if anything points to accumulation as opposed to exiting.

Is this the start of a bull market? The foundation is there, but it is too soon to say for sure. SHIB has demonstrated its ability to protect the sub-$0.0000095 region, bounce cleanly and sustain momentum long enough to exert pressure on overhead resistance. 

SHIB has sufficient structural support to stage a move toward the $0.0000105-$0.0000110 cluster, which is the first real indication that a bullish cycle is trying to form if the market offers even a slight risk-on window. 

Will XRP ETF save the day?

With lower highs, lower lows and a consistent decline through its major moving averages, XRP has been steadily declining over the last few months. That kind of structure takes time to relax under normal conditions. However, the current XRP ETF craze is adding enough outside momentum to possibly break the pattern far more quickly than the chart by itself would indicate.

With issuers like Franklin Templeton, Bitwise, 21Shares, CoinShares and Grayscale in line for regulatory rulings, the industry as a whole is witnessing a surge in filings and review windows in November. Technical pessimism has been largely overshadowed by the narrative that institutional capital or real regulated capital is getting ready to rotate into XRP.  

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On the chart, the shift is already taking shape. XRP has reclaimed the short-term trendline it broke earlier in the month, and buyers have stepped in aggressively near the $2.30 zone. The price returned to the $2.45-$2.50 range, directly beneath the moving average cluster that had been serving as a lid thanks to the strong bounce. 

These MAs would typically keep rejecting the price, but sentiment influenced by ETFs alters the situation. Resistance softens when market players anticipate institutional flows because sellers are reluctant to make a potentially disruptive move.

All of this does not ensure a breakout right away. However, the ETF cycle is a true structural catalyst that is powerful enough to surpass purely technical expectations. The remaining credibility of XRP's downward trend is lost if filings go smoothly and even one significant issuer passes the early review window. The bearish structure may be invalidated by the market's pricing in external demand. 

Bitcoin's open interest wiped out

Over the past day, Bitcoin has wiped out $1.63 billion in open interest, which is a huge flush-out by any measure. That kind of decline would typically be a warning sign that things are going to get worse. When open interest collapses, it typically indicates that momentum is waning, liquidations are occurring on both sides and traders are aggressively leaving. 

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However, the market did not collapse this time. Rather, BTC immediately recovered from the short-term rising support it had been building since the sell-off in early November. That bounce counts. One of the clearest indicators that the market is derisking rather than collapsing is a significant OI wipeout combined with price stability.

Bitcoin becomes brittle when open interest remains excessively high for an extended period of time; a single abrupt move can set off a chain reaction of liquidations. Now that leverage has been removed, the chart appears much more stable than it was a week ago.  

Buyers defended the $100,000-$102,000 range, creating a distinctly higher low. Rebuilding a bullish structure starts with protecting a base, lowering leverage and then pushing into resistance with cleaner momentum.

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