Crypto Today: Bitcoin, Ethereum, XRP shows recovery signs as Ethereum and XRP struggle
- Bitcoin edges gradually higher above $63,000, backed by $170 million in ETF inflows.
- Ethereum remains pressured toward the 50-day EMA support amid renewed ETF selling.
- XRP is constrained within a narrow range with support at $1.00 and resistance at $1.10.
Bitcoin (BTC) advances above $63,000 on Tuesday, buoyed by increasing investor risk appetite. Ethereum (ETH) continues to trade under pressure below the supply range at $1,900 and above the short-term $1,800 support. At the same time, Ripple’s (XRP) upside is constrained under the pivotal $1.10 level while support at $1.00 remains intact.
Bitcoin, XRP ETFs attract inflows
Institutions renewed their appetite for Bitcoin spot Exchange-Traded Funds (ETFs), which recorded a total of $170 million in inflows on Monday, following roughly $265 million in outflows on Friday. Should the demand for US-listed ETFs increase, it will raise the odds of an extended recovery.
Ethereum ETF experienced renewed outflows of approximately $11.42 million on Monday, snapping two consecutive days of inflows, including $13.29 million on Thursday and $9.03 million on Friday. The return of ETH ETF outflows while Bitcoin records inflows suggests capital rotation within the crypto market.
As for XRP spot ETFs, inflows extended for the fourth consecutive day, totaling $1.15 million on Monday. This marks a significant drop from the $7.69 million recorded last Friday. According to SoSoValue data, cumulative inflows hold steady at $1.15 billion, with net assets under management at $1.01 billion.
Technical analysis: Bitcoin holds short-term support
Bitcoin trades at $63,588, with a bearish near-term bias as the price remains below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs). The pair is capped first by the 50-day EMA around $64,644, with the longer-term 100-day EMA near $67,132 and the 200-day EMA around $72,673 reinforcing a broader downside tone.
The Moving Average Convergence Divergence (MACD) indicator holds in negative territory with a weak profile on the daily chart, while the Relative Strength Index (RSI) around 48 stays near neutral, hinting that bearish pressure persists but without extreme selling conditions.
On the downside, immediate support lies at the SuperTrend level around $61,034, which marks the nearest structural floor before deeper losses could open the way toward lower psychological levels. On the topside, bulls would need to reclaim the 50-day EMA at $64,644 to ease immediate downside pressure, with subsequent resistance at the 100-day EMA near $67,132 and the 200-day EMA around $72,673, where a sustained break would be needed to shift the broader outlook back toward a more constructive trajectory.s
Altcoins technical outlook: Ethereum and XRP sell-off persist
Ethereum trades around $1,857, holding in a neutral near-term stance as price sits above the 50-day Exponential Moving Average (EMA) at $1,851 but remains capped well below the 100-day EMA at $1,928. The SuperTrend indicator at $1,741 continues to underpin the broader rebound structure, yet downside momentum is hinted at by the MACD histogram slipping further below zero, while the RSI fluctuates around the 50 mark, signaling a lack of clear directional conviction.
On the topside, initial resistance emerges at the 100-day EMA near $1,928, with the 200-day EMA around $2,153 forming a more substantial barrier that would need to be reclaimed to revive a stronger bullish phase. On the downside, immediate support is defined by the nearby 50-day EMA around $1,851, with a deeper cushion at the SuperTrend line near $1,741, where a break lower would likely shift the bias decisively in favor of sellers.
XRP, on the other hand, trades at $1.07 while remaining under clear downside pressure, holding below the 50-day, 100-day and 200-day EMAs clustered at $1.12, $1.20 and $1.39, respectively, which reinforces a bearish near-term bias.
The spot Price also trades beneath the Bollinger Bands middle layer at $1.09, keeping the action confined to the lower half of the volatility envelope, while the RSI hovering around 45 and a slightly negative MACD reading hint that momentum remains fragile and rallies are likely to be sold.
On the topside, initial resistance emerges at the Bollinger midline near $1.09, ahead of the 50-day EMA around $1.12 and the upper Bollinger Band near $1.14, with further recovery capped by the 100-day EMA at $1.2 and the 200-day EMA up at $1.39. On the downside, immediate support aligns with the lower Bollinger Band around $1.05, and a clear break beneath this band would open the door to deeper losses as sellers extend control within the current bearish structure.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs
An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
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