Bitcoin, Ethereum, and Ripple Prices Struggle Amid Market Caution
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices are facing challenges to move higher. The overall crypto market remains cautious on Wednesday. BTC and ETH hit resistance at key technical levels. XRP shows lower trader interest as futures Open Interest drops. Market recovery is slowing due to growing macroeconomic concerns. Renewed US-China trade tensions and the ongoing US government shutdown have made investors more careful.
Bitcoin and Ethereum Show Mild ETF Inflows; XRP Futures Drop
Bitcoin spot ETFs saw a small inflow of $102.58 million on Tuesday. This ended a two-day outflow streak but was less than inflows seen in early October. At that time, BTC reached a new all-time high of $126,199.
Ethereum spot ETFs also recorded a mild inflow of $236.22 million on Tuesday, breaking a three-day outflow.
In contrast, XRP futures Open Interest fell to $563.57 million on Wednesday. This is the lowest level since November 2024, showing reduced trader participation.
Technical Indicators Suggest Possible Further Bitcoin and Altcoin Declines
Bitcoin price slightly recovered on Sunday, closing above $114,900 after a sharp drop on Friday. On Wednesday, BTC traded near $112,500. It faced resistance at the 78.6% Fibonacci retracement level of $115,137 and the 50-day EMA at $115,409.
If BTC continues to fall, it may test support at $107,245. The Relative Strength Index (RSI) at 43 and a bearish MACD crossover indicate growing downward momentum.
Ethereum found support near the 61.8% Fibonacci level at $3,953 on Saturday and rose 13% over two days. On Tuesday, ETH dropped below resistance at $4,232, near its 50-day EMA and 78.6% Fibonacci level. It traded around $4,140 on Wednesday.
If ETH falls further, it could revisit support at $3,953. The RSI at 46 and bearish MACD crossover also suggest downward pressure. A break above $4,232 could push ETH toward $4,488.
Ripple found support at $2.35 on Saturday and rose over 10% in two days. On Tuesday, XRP hit resistance at the lower trendline of a falling wedge pattern and traded near $2.49 on Wednesday.
If XRP declines, it may test support at $2.35. RSI and MACD indicators show bearish momentum. A recovery above resistance could lead XRP toward the 50-day EMA at $2.83.
