Crypto Today: Why is the Bitcoin, Ethereum and XRP recovery slowing as capital inflows return?

• Selling pressure is being cushioned by spot ETF inflows as Bitcoin’s rebound pauses below $81,000.
• With $53 million flowing into ETFs, Ethereum bulls look to the 50-day EMA for near-term support.
• Despite subdued ETF activity, XRP trades above $1.32 as its winning streak reaches three days.

Consolidation dominates the cryptocurrency market on Thursday as the recent rebound loses steam. Bitcoin (BTC) is trading near $80,600 after its recovery faltered below $81,000, while Ethereum (ETH) holds above $2,400 with a neutral-to-bullish bias as upward momentum eases. By contrast, Ripple (XRP) is showing signs of extending its advance into a third consecutive day, with the token trading above $1.32.

A recovery in the crypto market gathered pace during the United States (US) midterm elections, which handed the Democrats a majority in Congress. Macroeconomic uncertainty nevertheless clouds the recovery outlook: market participants assign a 79% probability to a 25 basis point interest rate increase by the Federal Reserve (Fed) in December.  Just 21% of traders anticipate that the central bank will leave rates within the 3.75-4.00% range.

Can renewed inflows support crypto ETFs?

Demand for digital investment products, including spot Exchange-Traded Funds (ETFs), started to recover once the market had absorbed the Binance hack. The incident affected about $6.3 billion in assets, fuelling worries over the security of investors’ funds held on centralised exchanges (CEXs).

Wednesday brought around $75 million in inflows into Bitcoin spot ETFs, ending a three-day bearish run. That reversal alone, however, does not provide a sufficient measure of institutional investor appetite. Whether the current bullish outlook holds or is invalidated will depend heavily on flows over the days and weeks ahead.

After seven straight days of outflows, Ethereum spot ETFs attracted about $53 million on Wednesday. This return of capital indicates that investors may be prepared to take on more risk in anticipation of a gradual price rise towards near-term resistance at $2,600 and the medium-term barrier at $2,800.

Activity in XRP spot ETFs, by comparison, has remained subdued for two days, following modest outflows of $530,000 on Monday and $497,000 last Friday. The overall picture is still lacklustre. Nevertheless, cumulative inflows are positive at $1.8 billion and net assets under management stand at $1.5 billion, indicating that investors retain a bullish long-term view of the underlying XRP token.

Technical analysis: Can Bitcoin build on renewed bullish momentum?

A modestly bullish tone prevails in Bitcoin as it trades at $80,615, above the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs). Having recovered the short-term EMA cluster, the pair is now consolidating. Support for the advance comes from the 50-day EMA at $80,166, while the SuperTrend line at $82,920 restricts further upside.

A positive turn in the Moving Average Convergence Divergence (MACD), alongside a Relative Strength Index (RSI) reading just over 50, points to strengthening momentum. Buyers therefore retain the near-term advantage, although conviction behind a breakout remains limited.

For a stronger extension of the uptrend, Bitcoin would need a daily close above the immediate SuperTrend resistance near $82,920. On a decline, the first support is the 50-day EMA around $80,166, ahead of the 100-day EMA at $77,901 and the 200-day EMA near $76,555. Slipping back beneath the 50-day EMA would undermine the positive outlook and leave room for a deeper retreat towards the longer-term averages.

Ethereum technical analysis: Can ETH bulls revive the stalled recovery?

The broader uptrend in Ethereum appears intact as the token trades at $2,423, maintaining a positive bias above the 50-day, 100-day and 200-day EMAs grouped between approximately $2,400 and $2,310. Rather than signalling a broader reversal, the latest retreat from the highs looks like consolidation above the long-term base near the 200-day EMA at $2,316.

The momentum indicators reinforce this bullish bias. With the MACD turning positive and crossing above zero, and the RSI near 54, the readings suggest modest buying pressure rather than overbought conditions.

The former rising trend support, now a resistance barrier near $2,463, is the first upside hurdle. Next comes the SuperTrend line at $2,490, where sellers may try to halt additional gains. Initial demand on the downside sits at the 50-day EMA of $2,411; further support comes from the 100-day EMA at $2,354 and the 200-day EMA at $2,316. Only a decisive break below the entire EMA cluster would bring a deeper decline towards the second, lower rising trendline around $2,211 into consideration.

Technical analysis: Can XRP sustain its recovery?

A third successive day of modest gains has XRP trading at $1.32, although the 50-day and 200-day EMAs continue to limit the price from above. The token has, however, recovered the 100-day EMA as nearby support. Momentum is improving: the MACD has edged into positive territory, while an RSI reading of about 51 places it in the neutral-to-bullish zone. Even so, the current technical structure suggests that attempts to move higher will encounter selling pressure at the overhead averages and the active SuperTrend line.

The first upside obstacle is the 50-day EMA near $1.34, followed by the 200-day EMA around $1.36, which strengthens the broader supply zone. A more significant hurdle for confirming bullish strength is the SuperTrend line near $1.40. Immediate downside support rests at the 100-day EMA of $1.32. A sustained move beneath it would put the earlier trendline break area around $1.27 in focus as the next meaningful demand zone.

(The technical analysis of this story was written with the help of an AI tool. Know more.)