Crypto Today: Bitcoin, Ethereum, XRP hold steady as ETF inflows strengthen short-term bullish outlook

• Bitcoin stays above $95,000, supported by growing institutional demand, with ETF inflows reaching $753 million on Tuesday.
• Ethereum is poised to extend its rebound above the 100-day EMA, supported by improving sentiment.
• XRP stalls below key resistance despite steady ETF inflows and a slight positive divergence in the MACD indicator.

Bitcoin (BTC) is trading above $95,000 at the time of writing on Wednesday, as positive sentiment lifts the broader cryptocurrency market's bullish outlook. Altcoins, including Ethereum (ETH) and Ripple (XRP), are also holding onto some of the gains from Tuesday's macro-driven rally.

Rising ETF demand fuels broad recovery in BTC, ETH and XRP

Bitcoin spot Exchange Traded Funds (ETFs) recorded the highest single-day inflow of $753 million since October on Tuesday. The surge was largely driven by an overall improvement in sentiment following the United States Bureau of Labor Statistics (BLS) report of softer-than-expected core inflation.

The cumulative inflow now stands at $57.27 billion with net assets at $123 billion. None of the nine spot BTC ETFs experienced outflows. Fidelity’s FBTC led with approximately $351 million in inflows, followed by Bitwise’s BITB with $159 million and BlackRock’s IBIT with $126 million.

Ethereum spot ETFs extended their inflow streak for the second consecutive day, recording approximately $130 million on Tuesday. BlackRock’s ETHA ETF led with inflows of $53 million, followed by Grayscale’s ETH with $35 million and Bitwise’s ETHW with approximately $23 million. The cumulative inflow now stands at $12.57 billion with net assets at $19.62 billion.

Meanwhile, interest in XRP spot ETFs continues to build, as SoSoValue reports nearly $13 million in inflows on Tuesday. Since their launch in November, XRP ETFs have recorded just one outflow, totaling $41 million on January 7. The cumulative inflow now stands at $1.25 billion with net assets at $1.54 billion.

Chart of the day: Can Bitcoin sustain its uptrend?

Bitcoin is holding above $95,000 at the time of writing on Wednesday, following a sharp increase from the previous day’s open of $91,296 to a high of $96,495. The Moving Average Convergence Divergence (MACD) indicator on the daily chart remains in a buy signal triggered on December 21, suggesting that bullish momentum could expand further.

The green histogram above the mean line may prompt investors to lean more into risk, contributing to the tailwind and increasing the odds of a larger breakout toward $100,000.

A close above the 100-day Exponential Moving Average (EMA) at $95,987 would confirm BTC’s short-term bullish outlook. Still, more resistance is expected at the 200-day EMA at $99,581.

Bitcoin could also lag the breakout, as the Relative Strength Index (RSI) stands at 65 and is correcting from its recent high. If the RSI declines toward the 50 midline, the path of least resistance will likely flip downward, as Bitcoin resumes its correction toward $90,000.

Altcoins update: Ethereum eyes breakout as XRP consolidates

Ethereum is trading above $3,300 at the time of writing on Wednesday, with the 100-day EMA providing support at $3,288. The MACD indicator remains above the signal line on the daily chart, with green histogram bars above the zero line, expanding in support of the bullish thesis.

Still, a break above the immediate 200-day EMA resistance at $3,339 is required to reinforce the bullish grip. A close above this moving average could accelerate Ethereum to the next key hurdle at $3,447, tested on December 10.

Meanwhile, the RSI on the same daily chart has stabilised at 65, signaling potential consolidation. A resumption of the RSI uptrend would support the short-term bullish outlook, while a decline would increase the chances of Ethereum trimming its value toward $3,000.

As for XRP, the price holds below the 100-day Exponential Moving Average (EMA) at $2.21and the 200-day EMA at 2.33, but remains above support provided by the 50-day EMA at $2.08 at the time of writing on Wednesday.

The RSI has dropped slightly to 57 on the daily chart, indicating that sellers still have the upper hand. XRP will likely retest the 50-day EMA if the RSI extends its decline.

Meanwhile, the MACD indicator on the same chart highlights a slight positive divergence, which could prompt traders to increase risk exposure, adding to the tailwind. However, a break above the 100-day EMA at $2.21 would be required to support a 5% increase to the 200-day EMA at $2.33.