Crypto Today: Bitcoin and Ethereum aim for recovery, XRP holds key support

• Bitcoin steadies above $92,000 as the dust from the Fed decision settles amid continuing macroeconomic uncertainty.
• Ethereum stabilizes above $3,200, supported by uptrending momentum indicators.
• XRP remains above $2.00 as total cumulative ETF inflows advance toward $1 billion milestone.

Bitcoin (BTC) is trading above $92,000 at the time of writing on Friday, as volatility across the cryptocurrency market cools following the Federal Reserve’s (Fed) hawkish interest rate cut.

Ethereum (ETH) is paring losses above $3,200 as momentum indicators signal a plausible recovery heading into the weekend. Ripple (XRP), on the other hand, is struggling to hold above the pivotal $2.00 support level amid increasing headwinds.

XRP ETFs extend inflows, as BTC and ETH bleed

XRP spot Exchange Traded Funds (ETFs) extended their inflow streak for the 19th consecutive day, with approximately $16 million deposited on Thursday. According to SoSoValue data, the cumulative inflow volume currently stands at $971 million and is quickly approaching the $1 billion milestone. In total, XRP ETFs account for net assets of $930 million.

Bitcoin spot ETFs, unlike XRP, resumed outflows on Thursday, with approximately $77 million withdrawn. Fidelity’s FBTC performed the worst, with outflows of $104 million, followed by VanEck’s HOLD with $19 million. BlackRock’s IBIT and Bitwise’s BITB recorded inflows of $77 million and $8 million, respectively. The cumulative inflow volume stands at $57.85 billion, and net assets are nearly $120 billion.

Ethereum spot ETFs listed in the United States (US) posted approximately $42 million in outflows on Thursday, breaking three days of consecutive inflows. 21Shares’ TETH was the only product in the green with inflows of $2 million, while Grayscale’s ETHA saw the largest outflows of $31 million. The cumulative inflow volume stands at $13.11 billion, and net assets are $20.31 billion.

Chart of the day: Bitcoin recovery slows as bulls hold support

Bitcoin is trading above $92,000 at the time of writing on Friday, supported by positive momentum indicators. The Moving Average Convergence Divergence (MACD) indicator edges higher, reinforcing a short-term bullish outlook on the daily chart. As long as the green histogram bars keep expanding above the mean line, BTC would lean bullishly as more investors increase their risk exposure.

A break above the initial barrier at $94,150 could pave the way for an extended recovery to the 50-day Exponential Moving Average (EMA) at $96,466. Bulls should flip this level into support to maintain the bullish outlook toward $100,000.

However, the Relative Strength Index (RSI) has stalled below the 50 midline, suggesting a weakening of bullish momentum. A decline in the RSI would extend bearish momentum and increase the odds of Bitcoin sliding below $90,000.

Altcoins update: Ethereum, XRP hold below key moving averages

Ethereum is hovering above $3,200 at the time of writing on Friday, but also sits below the 50-day EMA at $3,310, the 200-day EMA at $3,452 and the 200-day EMA at $3,502, which uphold an overall bearish bias.

The MACD indicator on the daily chart is almost entering bullish territory, supported by a buy signal since November 26. The green histogram bars expanding above the mean line underscore a potentially steady upward momentum.

The RSI at 54 in the bullish region backs a short-term bullish outlook. However, a move toward overbought territory is required to sustain momentum.

A daily close above the 50-day EMA at $3,310 would pave the way for recovery past the 200-day EMA at $3,452 and the 100-day EMA at $3,502. If the 50-day EMA caps the rebound, chances of an extended correction toward $3,000 would increase.

XRP, on the other hand, is hovering above its short-term support at $2.00, but remains below the 50-day EMA at $2.24, the 100-day EMA at $2.40, and the 200-day EMA at $2.46, which slope lower and maintain an overall bearish alignment.

The MACD on the daily chart sits below the zero line in the bearish region, with the blue MACD line marginally above the red signal line. Hardly positive and contracting green histogram bars indicate neutral momentum. The RSI at 42 leans bearish, suggesting rallies could stay limited.

Still, a daily close above the hurdle $2.24 (50-day EMA) could ease pressure and open the path toward the resistance band at $2.40-$2.46. Failure to reclaim the first barrier ($2.24) would keep sellers in control beneath the trend-line cap.