Crypto Market Analysis: Zcash Pulls Back, XRP Remains Compressed

Zcash (ZEC) has entered a pullback phase after failing to maintain its rally toward $570. The asset is now trading above its short-term moving averages, but sellers intervened close to local highs, forcing ZEC into a controlled correction.

The larger technical structure remains bullish, with the 200-day EMA trending upward well below current price action. However, the 50-day EMA has begun to flatten, and volume has decreased during the decline.

XRP remains compressed within a symmetrical triangle formed throughout July. The cryptocurrency is close to a crucial breakout moment, but volatility has significantly decreased after weeks of lower highs and higher lows.

Shiba Inu (SHIB) spiked up by 15% in a single session, breaking through several technical barriers. The token attracted aggressive buying pressure after consolidating near yearly lows for most of July.