Bitcoin, Ethereum, XRP Rebound Together…Will the Uptrend Continue Even as ETF Funds Decline?

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

Bitcoin (BTC), Ethereum (ETH), and XRP (Ripple) are all rebounding, regaining a short-term bullish trend, but institutional demand is weakening as net inflows into US spot ETFs have uniformly slowed down. While Bitcoin attempts to break past $84,000, Ethereum holds above $2,700, and XRP maintains $1.50, major moving averages are supporting prices, tilting the market from neutral to bullish.

According to investment media FXStreet on September 29 (local time), US Bitcoin spot ETFs saw a net inflow of $31 million on Monday, a significant decrease from $134 million last Friday. However, the total net inflow for the previous week reached $2.4 billion. Ethereum spot ETFs also decreased from $87 million on Friday to $17 million on Monday, with cumulative net inflows nearing $14 billion and net assets approaching $18 billion. XRP spot ETFs also saw a decrease from approximately $23 million on Friday to $4 million on Monday, but continued net inflows for five consecutive trading days. Cumulative net inflows are about $1.8 billion, and net assets average around $1.7 billion.

Bitcoin rebounded from a Monday low of $82,544, rising to around $84,000. It is significantly above the 50-day Exponential Moving Average (EMA) of $77,582, the 100-day EMA of $74,129, and the 200-day EMA of $74,361. The SuperTrend at $78,351 also supports the upward structure. The RSI (Relative Strength Index) is at 62, indicating bullish territory, but the MACD (Moving Average Convergence Divergence) has slightly dipped below the zero line, suggesting a slight weakening of upward momentum. In case of a decline, $78,351 and $77,582 are presented as initial support levels.

Ethereum is trading around $2,720, maintaining a short-term bullish structure above major moving averages. The RSI remained in bullish territory at approximately 65, without entering the overbought zone, but the MACD dropped below the zero line, indicating a slowdown in upward momentum. On the downside, the 50-day EMA at $2,439 and the SuperTrend at $2,434 form the first support zone. In case of further correction, the 100-day EMA at $2,275 and the 200-day EMA at $2,264 are presented as deeper demand zones.

XRP also recovered $1.50, continuing its short-term bullish trend. The RSI is around 57, and the MACD is slightly above the zero line, indicating that buying pressure still maintains dominance. Short-term support is near the recent closing price of $1.5071. Below that, the 50-day EMA at $1.3673 and the 200-day EMA at $1.3731 form a key support zone. In case of further decline, the 100-day EMA at $1.3080 and the SuperTrend at $1.2753 are considered the next support levels.

While the net inflows into spot ETFs for all three assets have decreased, weakening the upward momentum of institutional demand, the technical structure still leans towards bullishness. Bitcoin attempted to break $84,000, Ethereum held above $2,700, and XRP also recovered $1.50. FXStreet analyzed that as long as major moving average support is maintained, the direction with relatively less price resistance is still upward.

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