Bitcoin Rallies as Ethereum and XRP Hold Key Supports

Key Moments

Macro Backdrop: Inflation Data and ETF Outflows Pressure Crypto

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are staging a modest recovery on Monday after a volatile period influenced by persistent US inflation readings and notable institutional outflows.

Recent US Consumer Price Index (CPI) data for September showed an annual increase of 3.7%, above expectations of 3.6%. The US Producer Price Index (PPI) also surprised to the upside at 6.3% in September versus market forecasts of 5.3%. Together, these figures point to building inflation pressures across both consumer and producer levels in the US, prompting concerns that another interest rate increase may still be on the table later this year.

Crypto-focused Exchange Traded Funds (ETFs) have simultaneously experienced stronger redemption activity, signaling higher selling pressure in the face of elevated inflation risks. Bitcoin ETFs registered a second straight week of outflows totaling $228 million, following $681 million previously. Ethereum ETFs reported a third consecutive week of redemptions, with outflows of $319 million. XRP ETFs ended a 13-week run of inflows, recording $1.84 million in outflows over the past week.

Bitcoin Technicals: Rebound Holds Above Key Moving Averages

Bitcoin is trading around $82,488 on Monday, maintaining levels above both the 50-day Exponential Moving Average (EMA) at $80,607 and the 200-day EMA at $76,034. This configuration keeps the broader technical backdrop constructive, even as BTC approaches nearby resistance.

Price action is currently testing a descending resistance trendline, with a potential breakout level sitting just above at $82,526. The round number at $85,000 forms an additional ceiling in the near term.

The Moving Average Convergence Divergence (MACD) indicator remains below its signal line, while the Relative Strength Index (RSI) is at 50, reflecting a neutral stance that is consistent with a consolidative but mildly bullish tone.

A decisive move above the trendline near $82,526 would put the $85,000 barrier in focus, a level that rejected buyers last week. A stronger follow-through beyond $85,000 could open a path toward the September 21 swing high at $87,395.

On the downside, initial support is located at the 50-day EMA at $80,607. The 200-day EMA at $76,034 remains a pivotal reference for the medium-term structure, as long as daily closes stay firmly above it.

Ethereum Analysis: Trading Between the 200-day and 50-day EMAs

Ethereum is holding above $2,400 on Monday, with its corrective phase pausing around the 200-day EMA at $2,345. However, the price is still trading beneath the 50-day EMA at $2,483, underscoring a short-term bearish tilt within an overarching medium-term uptrend.

Momentum indicators on the daily chart favor sellers in the short term. The RSI is flattening around 40 without yet signaling oversold conditions, and the MACD remains in negative territory, both pointing to subdued buying pressure.

For the bullish structure to regain traction, ETH needs to recover the 50-day EMA at $2,483 and then overcome the August 21 high at $2,546. Clearing these levels would pave the way toward the September 21 high at $2,807.

On the downside, the 200-day EMA at $2,345 is the first major support. A clean break below this area would likely expose the May 21 high at $2,157 and eventually bring the $2,000 psychological level into play.

XRP Outlook: Support Holds After Bearish Breakout

Ripple is trading around $1.3098 on Monday, extending a negative short-term technical tone. The token currently sits below its near-term moving averages, with the 50-day EMA at $1.3784 and the 200-day EMA at $1.3919 providing resistance.

From a chart perspective, XRP has dropped under the former rising trendline of a symmetrical triangle pattern located near $1.3528 on the daily timeframe, signaling a bearish breakout. However, horizontal support defined by the June 15 high around $1.2941 has held, triggering a rebound on Sunday.

A sustained move below $1.2941 would likely open the way for a deeper pullback toward the June 8 high at $1.1866. Momentum remains weak, with the RSI at 37 and the MACD sliding further into negative territory.

On the upside, initial resistance is aligned with the previously broken trendline around $1.3528. Above that, a more concentrated supply zone is formed by the 50-day EMA at $1.3784 and the 200-day EMA at $1.3919.