Bitcoin, Ethereum, XRP All Strong! ETF Funds Return, Accelerating Rally

Bitcoin Surpasses $85,000, Ethereum Breaks $2,700… ‘Top 3 Coins’ All Strong as ETF Funds Return

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

Bitcoin (BTC) soared to $85,000, and Ethereum (ETH) continued its rally for six consecutive trading days, while XRP (Ripple) also approached $1.50. As funds flowed back into Bitcoin and Ethereum spot ETFs, the technical bullish trend of major cryptocurrencies became even more pronounced.

According to investment media FXStreet on September 21 (local time), the cryptocurrency market showed an overall upward trend on Monday, with Bitcoin rising to $85,000. Ethereum surpassed $2,700, and XRP maintained $1.47. According to SoSoValue data, Bitcoin spot ETFs saw an inflow of $433 million last Friday, a significant increase from $159 million the previous day. The cumulative net inflow was approximately $55 billion, with average assets under management (AUM) recorded at $102 billion.

Ethereum spot ETFs also ended three consecutive trading days of net outflows and turned to a net inflow of $144 million on Friday. The cumulative net inflow was approximately $13 billion, with average assets under management (AUM) at $17 billion. In contrast, XRP spot ETFs continued to experience a slight net outflow of $44,000. However, the cumulative net inflow remains positive at $1.7 billion, and assets under management are around $1.5 billion.

Technically, Bitcoin is maintaining an upward structure, trading above its 50-day, 100-day, and 200-day Exponential Moving Averages (EMA) and the SuperTrend. The Relative Strength Index (RSI) is near 70, approaching the overbought region, and the Moving Average Convergence Divergence (MACD) remains in positive territory, indicating continued upward pressure. In case of a decline, the SuperTrend around $75,608 and the 50-day EMA in the mid-$70,000s were presented as primary support levels. Below that, the 200-day EMA at $73,489 and the 100-day EMA at $72,289 were cited as additional support lines.

Ethereum continued its upward trend for six consecutive trading days at $2,702. The RSI rose to around 69, and the MACD also turned positive. Key support levels are the SuperTrend at $2,380 and the 50-day EMA at $2,337. In the event of a larger correction, the 200-day EMA at $2,218 and the 100-day EMA at approximately $2,200 were suggested as mid-term support zones.

XRP also maintained its recent gains, trading above its 50-day EMA at $1.30, 100-day EMA at $1.27, and 200-day EMA at $1.36. The RSI showed positive momentum at approximately 62, and the MACD was slightly above the zero line. In case of a short-term correction, $1.35-$1.36 is the first support zone, followed by $1.30, $1.27, and the SuperTrend at $1.25 as successive support lines. FXStreet analyzed that as long as these support zones are maintained, the recent correction can be seen as a breather in an upward trend rather than a trend reversal.

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