Author: Monicah W

Cardano’s price has posted a 3% uptick in the last 24 hours, trading higher as the broader crypto market rebounds from recent lows.

The total crypto market capitalization has climbed over 2% today, with major altcoins like ADA gaining momentum. With bullish sentiment gradually coming back across the markets, ADA is poised to maintain its rally in the short term.

Cardano Breaks Out of Downtrend 

ADA’s 3% rebound over the past day has pushed its price above the descending channel that kept its price in a downtrend between June 11 and 15. 

This pattern emerges when an asset’s price forms lower highs and lower lows within two parallel downward-sloping trendlines, signaling a prevailing bearish trend. When an asset’s price breaks above the channel’s upper boundary, it indicates a potential trend reversal and the start of bullish momentum.

Readings from ADA’s Balance of Power (BoP) confirm the resurgence in bullish momentum. As of this writing, this indicator is positive at 0.33.

The BoP indicator measures the strength of buyers versus sellers in the market, helping to identify momentum shifts. When its value is positive, buyers are in control of the market and are driving newer price gains.

Moreover, this bullish sentiment persists among ADA futures traders, reflected by the coin’s positive funding rate. At press time, this is at 0.0081%, per Coinglass data. 

The funding rate is a periodic payment between traders in perpetual futures markets to keep contract prices aligned with the spot price. A positive funding rate means long positions are paying shorts, indicating that bullish sentiment dominates and most ADA traders expect prices to rise.

Cardano Faces Key Test at $0.66

While ADA’s path to $1 remains uncertain, strengthening bullish momentum could see the coin break above resistance at $0.66 and target $0.73 in the mid-term. 

If buy-side pressure continues to build at that level, the rally may extend toward $0.76. 

However, a bearish shift in sentiment among Cardano buyers could push the price back down to $0.62, a level still back within the bounds of the previous descending channel.

The post Can Cardano (ADA) Reclaim $1 This Cycle? appeared first on BeInCrypto.

Purpose Investments has received regulatory approval to launch Canada’s first XRP ETF. This new product will offer direct exposure to XRP and begin trading on June 18.

Additionally, the OSC will allow customers to hold this product in registered accounts, allowing them to pay substantially lower taxes on gains. This regulatory breakthrough is heartening, as Canada’s new PM is a Bitcoin critic.

Canada Approves an XRP ETF Before the US

The XRP ETF is a coveted crypto-based financial instrument, but only one country is actually offering it on the market. The race to win approval has seen many setbacks in the US, yet overall optimism remains high.

This week, one firm will turn Canada into the second nation to offer this product, as it announced in a press release.

Purpose Investments, an asset management firm based in Toronto, received final regulatory approval to offer an XRP ETF.

The Ontario Securities Commission (OSC), Canada’s top regulator, is allowing users to hold this ETF in registered accounts. Under Canadian law, this means that customers could pay substantially lower taxes on these assets.

“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem. We’re proud to continue pushing the boundaries of what’s possible in the space,” claimed Vlad Tasevski, Purpose’s Chief Innovation Officer.

For the last few years, Canada has positioned itself as a crypto leader, launching the first crypto ETF in North America four years ago.

Purpose Investments also created this asset. A significant chunk of Canada’s institutional investors hold crypto, and the nation allowed Coinbase to secure a registration license last year.

However, a prominent Bitcoin critic became Prime Minister this March, potentially disrupting the nation’s policies. In other words, it’s a very good sign that the OSC approved an XRP ETF under these circumstances.

Hopefully, this will help encourage the SEC to move forward with a similar product in the US.

BlackRock, the largest asset manager in the US, still hasn’t filed for a spot product based on XRP, but prominent analysts believe it will do so soon.

Btw, I still fully expect BlackRock to file for spot sol & xrp ETFs…

As leader in both spot btc & eth ETFs, it would make *zero* sense to cede other top crypto asset ETF categories to competitors.

Related, I also fully expect BlackRock to file for index-based crypto asset ETF.

— Nate Geraci (@NateGeraci) June 12, 2025

The SEC is working hard with Ripple to resolve their ongoing legal dispute, which may help facilitate XRP ETF approval.

At this time, it’s impossible to predict when it’ll win approval, but the US will be the third nation in the hemisphere to offer it at the earliest. Canada and Brazil may remind the US that it needs to catch up to stay on the market’s cutting edge.

The post Canada is Launching Its First XRP ETF This Week appeared first on BeInCrypto.

Shiba Inu (SHIB) is showing early signs of recovery, gaining ground from recent lows as its RSI rebounds and key support levels hold. Despite these positive signals, SHIB failed to break above the RSI 51 mark and continues to face pressure from bearish EMA alignments.

At the same time, whale activity has been steadily declining, suggesting reduced confidence from large holders and raising questions about long-term support. With price action stuck between major support and resistance zones, SHIB’s next move will likely depend on whether momentum strengthens—or fades once again.

Shiba Inu Momentum Improves, But RSI Rejection Signals Caution

Shiba Inu has seen a shift in momentum, with its Relative Strength Index (RSI) rising to 47 from 30.18 just three days ago, signaling a recovery from near-oversold conditions.

However, it’s worth noting that SHIB failed to break above the 51 RSI mark yesterday, suggesting that bullish momentum remains fragile for now.

While the recent bounce reflects easing selling pressure, the inability to push into clearly bullish territory indicates ongoing hesitation among buyers.

The RSI, or Relative Strength Index, is a momentum oscillator that gauges the speed and magnitude of price changes, helping identify overbought or oversold conditions.

Readings below 30 point to oversold levels, while values above 70 suggest overbought territory. With SHIB’s RSI now sitting at 47, the asset remains in a neutral zone—neither overextended nor deeply discounted.

This mid-range positioning leaves room for either a breakout or a reversal, depending on how price action develops around current resistance and support levels.

Decline in SHIB Whales Signals Potential Weakness Ahead

The number of Shiba Inu whales—wallets holding at least 1 billion tokens—has been gradually declining since June 11, falling from 10,259 to 10,231.

While the drop may seem modest, it reflects a slow but steady reduction in large holder participation, which could signal weakening confidence among major players.

A consistent downtrend in whale activity often correlates with diminished support during volatile phases, making SHIB more vulnerable to price swings.

Tracking whale behavior is critical because large holders can influence price movements through sudden buys or sells. A rising whale count often suggests accumulation and long-term confidence, while a declining number may imply distribution or exit.

With SHIB whale wallets shrinking, it could indicate that major investors are either taking profits or hedging against further downside.

If this trend continues, it may add pressure on SHIB’s price, especially if retail interest fails to offset the whale outflows.

SHIB Holds Key Support, But Bearish EMAs Keep Bulls in Check

Shiba Inu price recently tested and held the key support level at $0.0000119, offering a temporary floor despite broader bearish signals.

The token’s Exponential Moving Averages (EMAs) remain in a bearish alignment, with short-term EMAs positioned below long-term ones—indicating ongoing downward pressure.

If this support is retested and fails to hold, SHIB could slide toward the next critical level at $0.0000114, potentially opening the door for further downside.

However, if sentiment shifts and SHIB manages to build upward momentum, the price could challenge the immediate resistance at $0.0000128.

A breakout above this level may trigger a rally toward $0.0000136, and if buying pressure continues, even a push to $0.0000146 is possible.

For now, SHIB is trapped between crucial support and resistance zones, and a clear break in either direction will likely define its short-term trajectory.

The post Why Shiba Inu (SHIB) Price Remains Weak Despite Positive Indicators appeared first on BeInCrypto.