Ripple, Cardano & Shiba Inu — Asian Wrap 14 October

XRP price witnessed an extremely volatile market behavior amidst the US Consumer Price Index release. Key levels have been defined to determine the next trending direction. Invalidation of the bearish thesis is a breach above $0.56.

Cardano price is currently up 7% after tagging a low of $0.35 for the first time in 2022 on Thursday morning. The recent US Consumer Price Index (CPI) data release prompted the sell-off and increased selling pressure on nearly all crypto assets. Shortly after the decline, a short squeeze took place, wiping out the liquidity of day trading bears.

Shiba Inu community has taken control of the Shibburn portal and terminated its association with the Ryoshi Vision (RYOSHI) team. Nearly 20 million Shiba Inu(SHIB) tokens were burnt in the past 24 hours, permanently removing them from circulation.