Shiba Inu (SHIB) and Ripple (XRP) price forecasts for October 2024

The price of cryptocurrencies Shiba Inu (SHIB) and Ripple (XRP) is ready for new milestones. In this article, we look at the forecasts for their prices by the end of October 2024, considering the current market trend and the key factors influencing both.

Shiba Inu (SHIB) and the growth in the world of meme coins and the impact of ETFs on the price of Ripple (XRP)

The cryptocurrency market is experiencing a period of great excitement, characterized by continuous changes and new highs reached by Bitcoin.

In particular, the latter has also influenced altcoins such as Shiba Inu (SHIB) and Ripple (XRP). These two tokens are indeed attracting the attention of investors for their growth potential, making them protagonists of the market by the end of October 2024.

But what are the price forecasts for Shiba Inu (SHIB) and Ripple (XRP)? And how might these two tokens behave in the coming days?

Shiba Inu (SHIB) has quickly gained popularity in the world of cryptocurrencies, thanks to its ability to ride the success of meme coins.

The SHIB ecosystem continues to evolve, with the introduction of new products aimed at consolidating its position in the global market. 

One of the main recent innovations has been the introduction of the stablecoin SHIB, which has sparked the interest of a wide range of users.

According to the forecasts of CoinCodex, the price of Shiba Inu could experience a slight increase of 0.82% by the end of October 2024, bringing the value of the token to approximately $0.00001854. 

This increase, even if modest, confirms the stability of the token in a highly volatile market.

The current technical indicators show a bull sentiment for Shiba Inu, with a Fear & Greed index indicating greed with a score of 71. Additionally, SHIB recorded 16 green days out of 30, with a volatility of 11.10% in the last month. 

These data suggest that the token could continue to grow, making the current period favorable for potential investments in SHIB.

Ripple (XRP): the influence of ETFs on the price

Ripple (XRP) is another prominent cryptocurrency that continues to surprise the market. Over the past few months, Ripple has made headlines due to advancements in the ETF sector. 

Specifically, with major financial companies like Canary and Bitwise having filed applications for launches of ETFs based on XRP. This development could be crucial for the price trend of the token in the coming weeks.

According to CoinCodex, XRP could register a significant price increase of 17% by the end of October 2024, reaching $0.644029. In this case as well, the Fear & Greed index indicates a score of 71, signaling a situation of greed. 

With a currently neutral technical sentiment and a price volatility of 5.83%, Ripple recorded 15 bull days out of 30. 

These positive signals make it likely that the token could reach new highs by the end of the month, particularly thanks to the influence of ETFs.

The growing interest in ETFs based on Ripple could bring a wave of new investors into the market, further pushing the value of the token.

This scenario could consolidate Ripple as one of the most stable and promising cryptocurrencies in the current landscape. Especially if the applications for ETFs receive approvals from the competent authorities.

Which factors influence the bull and bear market of SHIB and XRP?

The forecasts for Shiba Inu and Ripple are influenced by several factors. Among these are the trend of the global cryptocurrency market, innovations in their respective ecosystems, and the adoption of new technologies by users.

As for Shiba Inu, the introduction of innovative products such as the stablecoin SHIB and other initiatives aimed at expanding its ecosystem help to keep investor interest high. 

However, its nature as a meme coin makes it particularly susceptible to price fluctuations related to external factors, such as market volatility and investor sentiment.

Ripple, on the other hand, is benefiting from the growing attention in the ETF sector and from strategic partnerships with major financial institutions. 

Its focus on innovation and its ability to quickly adapt to regulatory changes make it a particularly interesting token for long-term investors. 

The developments in the ETF sector could play a decisive role in defining the future of XRP, potentially bringing the token’s price to new levels of growth.