Heat a large pot over medium heat and add a splash of olive oil. Once hot, toss in chopped onions and diced bell peppers, sautéing for about 3-5 minutes.

Stir in the chili powder and cumin, cooking for an additional minute to allow the spices to bloom.

Pour in your choice of chicken or vegetable broth, raising the heat to bring everything to a simmer.

Once the broth is simmering, gently add the shrimp to the pot and cook for 3-5 minutes until pink and opaque.

Taste your soup and adjust the seasoning as needed with extra chili powder or salt.

Ladle your soup into bowls and garnish with chopped cilantro before serving.