Bitcoin and Altcoins Show Signs of Recovery
Bitcoin (BTC) is trading above $95,000 on Monday, showing early recovery signs. Ethereum (ETH) and Ripple (XRP) are also trying to recover. ETH is just below $3,200, while XRP trades around $2.27.
Bitcoin and Ethereum ETF Outflows Continue
Since October 10, Bitcoin lost significant institutional investment after a $19 billion crypto deleveraging event. US-listed Bitcoin ETFs saw about $492 million in outflows on Friday.
SoSoValue reported Bitcoin ETFs with a total inflow volume of $58.85 billion and net assets of $125.34 billion on Monday. Despite this, ETF outflows have dominated recent weeks, which may hurt investor confidence.
Ethereum ETFs also faced continuous outflows, with roughly $178 million withdrawn on Friday. The last inflow happened on November 6, at $12.51 million. Ethereum ETFs show $13.13 billion in cumulative inflows and $20 billion in net assets.
If outflows continue, Ethereum’s short to medium-term recovery will face challenges.
Weak Retail Demand for XRP and Market Indicators
Retail interest in XRP has stayed low since mid-October. The futures Open Interest is around $3.61 billion, down from a high of $10.94 billion in July. This suggests weak trading activity and skeptical market sentiment.
Bitcoin trades between $95,000 and $96,000. The Relative Strength Index (RSI) reached 34, recovering from oversold levels. A rise above $96,000 may boost investor confidence toward a $100,000 target.
However, the Moving Average Convergence Divergence (MACD) still signals selling pressure since November 3, encouraging cautious trading.
Ethereum and XRP Key Support Levels
Ethereum is slightly below $3,200. Its RSI rose to 37, showing growing bullish momentum. A daily close above $3,200 would confirm strength, but a recent Death Cross pattern signals possible downside risks. Support levels lie near $3,000 and $2,880.
XRP found support at $2.15 and is gaining momentum. Its RSI is at 43, moving toward bullish territory. Key resistance points to watch are $2.40, $2.49 (50-day EMA), $2.56 (200-day EMA), and $2.60 (100-day EMA). If traders take profits, XRP could drop to support near $2.07.
