"Why, despite ETF inflows?"...Bitcoin, Ethereum, XRP Rapidly Cool Together at Resistance Levels

▲ Bitcoin (BTC), Ethereum (ETH), XRP / ChatGPT generated image

Bitcoin (BTC), Ethereum (ETH), and XRP are showing collective weakness, failing to break past key resistance levels, which is once again shaking the overall cryptocurrency market's attempt at a rebound.

According to FXStreet on May 15 (local time), cryptocurrency prices generally showed a corrective trend on Friday, failing to recover the week's losses that occurred after the U.S. Senate Banking Committee advanced the process of reviewing the 2025 U.S. crypto market structure bill. Ethereum tested its short-term support level near $2,250, and XRP fell by over 1% to around $1.46.

Bitcoin showed signs of recovering institutional demand on Thursday with a net inflow of $131 million into U.S.-listed spot ETFs. This reversed the trend after outflows of $233 million on Tuesday and $635 million on Wednesday. According to SoSoValue data, the cumulative net inflow for Bitcoin spot ETFs was $58.63 billion, and the average net asset value was $107.75 billion.

The XRP spot ETF also recorded a net inflow of nearly $19 million on Thursday, following a sluggish trend the previous day. Cumulative net inflows slightly increased from $1.36 billion a day earlier to $1.37 billion, and total assets under management reached a four-month high of $1.25 billion. FXStreet reported that this trend indicates an increase in institutional risk appetite.

In contrast, the Ethereum spot ETF did not follow Bitcoin and XRP. An outflow of nearly $6 million occurred on Thursday, marking four consecutive trading days of outflows. Cumulative net inflows were tallied at $11.9 billion, with net assets at $13.45 billion. Ethereum perpetual futures open interest also decreased from $34.82 billion on Wednesday to $32.78 billion on Thursday, revealing a weakening expectation for recovery.

Technical trends were also mixed. Bitcoin defended the $80,000 support level but remained below its 200-day exponential moving average (EMA) of $81,743. The Relative Strength Index (RSI) stayed in bullish territory at 58, but the Moving Average Convergence Divergence (MACD) histogram moved further below the zero line, suggesting that upward attempts might be limited. On the upside, $81,743 is the initial resistance level, and surpassing it could lead to a retest of $82,688. On the downside, $76,872 and $76,698 were presented as immediate support levels.

Ethereum failed to break out of its short-term bearish structure, with its 50-day EMA at $2,274, 100-day EMA at $2,337, and 200-day EMA at $2,547 all acting as overhead resistance. The Relative Strength Index (RSI) remained around 46, and the Moving Average Convergence Divergence (MACD) histogram expanded in negative territory. FXStreet suggested $2,200 and $2,000 as potential demand zones for Ethereum. XRP, on the other hand, showed a relatively constructive trend, holding above its 50-day EMA of $1.42, with $1.49 set as a short-term resistance level and $1.71 as a key bullish target. On the downside, $1.42 and $1.35 were mentioned as support zones.

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