Morning Crypto Report: XRP's Unique $0 Liquidation, Bitcoin's 429% Price Surge, and Shiba Inu's February Win Streak: What’s Next?

As of Wednesday, January 28, the cryptocurrency market appears to have stabilized, but the charts suggest caution. XRP recently experienced a remarkable $0 liquidation event that short sellers won't forget. Meanwhile, Bitcoin's significant 429% price increase has resurfaced at an inconvenient time, and Shiba Inu (SHIB) is on the verge of potentially securing 'legendary' status in February based on its price history.

Key Takeaways

XRP experienced an unusual $0 liquidation anomaly for short sellers while long positions remained stable.
Bitcoin has surged 429% since late 2022, outperforming traditional assets like gold and silver.
Shiba Inu (SHIB) has historically performed well during February, with a chance for continued momentum following a 13.1% increase in January.
Investors are closely watching today's FOMC statement for insights into market trends and potential impacts on cryptocurrency prices.

XRP's $0 Liquidation Anomaly

In an uncommon turn of events, XRP's derivatives market has witnessed a remarkable event where bulls faced liquidations totaling exactly $0 within the last hour. According to CoinGlass data, this incident saw $140,504 in XRP short positions liquidated while long positions remained intact. The total liquidated amount was entirely from shorts, even as XRP's price rose by just 1.45% within the same timeframe. This indicates that some traders were caught on the wrong side of an overly leveraged bet.

The significance of this anomaly shouldn't be underestimated, especially given the current market's challenging nature for bulls. Historically, long positions tend to suffer more during liquidation periods.

_Source:_CoinGlass

This time, however, the situation flipped. A look at the liquidation spread over the past 12 to 24 hours reveals a disparity: $1.65 million in short-side liquidations compared to $1.31 million in long liquidations. While these amounts may not seem massive, the uncommon direction is noteworthy.

The one-minute chart shows that the impetus for this liquidation came from a breakout near $1.914, which propelled the price to around $1.93 before stabilizing. This movement was not driven by news but was likely a response to poor liquidity conditions. The minimal $0 loss for bulls might hint at improved capital management by XRP whale investors.

Bitcoin: A 429% Rally

As Bitcoin hovers below $89,000, many await insights from the FOMC. A recent chart from Bloomberg's Eric Balchunas offers a silver lining: since late 2022—just prior to BlackRock's ETF filing—Bitcoin has surged by 429%. This impressive figure outshines gold's 177%, silver's 351%, and the Nasdaq proxy QQQ's 135% gains.

Yes, the crypto market was somewhat stagnant for a good part of late 2025, but Bitcoin's two-year performance overshadows traditional safe havens. Balchunas posits that the initial "institutionalization" rally has already occurred, and prices are now aligning with underlying fundamentals.

This viewpoint isn’t very popular, as many traders feel overlooked by Bitcoin's slow pace this January and ongoing outflows from ETFs. However, if we take a wider view, the advantage may return to crypto, with Bitcoin already pricing in future developments for 2023 and 2024.

Image source _Source:_Eric Balchunas

Bitcoin currently maintains a strong upward trend, demonstrating 429% growth over 25 months, with 50% fewer drawdowns compared to previous cycles, signaling a more mature market structure. Additionally, its correlation with tech stocks began to diminish in late 2025, highlighting its emerging role as an independent asset class.

Some market analysts believe this historic outperformance may lead to a “lag rotation” back into Bitcoin after macroeconomic events settle—especially following today's FOMC announcement and budget discussions. If real interest rates decline, Bitcoin's multiyear hedge narrative could regain dominance.

Shiba Inu (SHIB): A Historical Perspective

The well-known meme coin, Shiba Inu (SHIB), which stands as the largest of its kind on Ethereum, is entering February with impressive numbers supported by its price history. Over the past five years, data from CryptoRank shows that SHIB recorded positive returns in February four out of five years, with the lone deficit occurring in 2025 at -26.1%. The average return for the month is +9.26%, while the median return sits at +10.9%.

When compared to its closest competitor, Dogecoin (DOGE), SHIB presents a cleaner statistical profile. DOGE typically shows more severe downturns during February. While DOGE benefits from a more extended historical dataset, SHIB's recent performance trend appears more favorable, fueling the "win streak" excitement.

_Source:_CryptoRank

Entering February 2026, SHIB has already recorded a 13.1% gain in January, setting it up for potential momentum, especially as investors looking for higher returns may pivot towards meme coins following tax season and before altcoin releases.

If this rally persists, SHIB's position as Ethereum's leading meme asset may solidify, turning the "legendary" February label from mere talk to tangible reality.

Market Outlook

The crypto market is in a state of anticipation as it awaits macroeconomic updates. Today's FOMC statement at 2:00 p.m. ET is a crucial moment. While a rate pause is already reflected in prices, the statement’s tone could influence market trends significantly. If Powell adopts a hawkish stance, it might cause concern, but a dovish tone could uplift major cryptocurrencies.

XRP: Immediate support is located at $1.89, while psychological resistance is observed at $2.
Shiba Inu (SHIB): The short-term price target is $0.00001018 in alignment with the 200-day moving average. Clearing this level could pave the way to the $0.000013 range, matching the peaks from October 2023.
Bitcoin (BTC): A robust defense is noted at $87,300, but a real breakout potential lies at $90,500; surpassing this threshold could invalidate the descending diagonal from its all-time high.