Crypto Today: Bitcoin, Ethereum, XRP rise on renewed retail interest

Bitcoin, Ethereum and XRP edge higher as risk appetite improves

Interest in crypto assets is generally steady, supported by five consecutive days of inflows into Bitcoin spot Exchange-Traded Funds (ETFs). SoSoValue data shows US-listed ETFs saw $180 million in inflows on Friday, bringing net assets under management to $91.83 billion. Cumulative inflows stand at $56.14 billion.

Retail traders appear to be making a steady comeback into the market, as seen in Bitcoin futures Open Interest (OI) rising to $47.91 billion on Monday, from $46.59 billion the previous day.

The OI had dropped to approximately $43 billion on March 9, the lowest level since November 2024. In contrast, the OI peaked at $94.12 billion in October, coinciding with Bitcoin’s record high of $126,199.

Demand for Ethereum ETFs has also steadied, with four consecutive days of inflows. SoSoValue data shows US-listed spot ETH ETFs attracted nearly $27 million in inflows on Friday, bringing the total assets under management to $12.26 billion. Cumulative inflows stand at $11.79 billion.

The Ethereum derivatives market is also growing, with futures OI averaging $29.38 billion on Monday, up from $27.63 billion the previous day. CoinGlass data shows that the OI dropped to $22.89 billion on February 6. Meanwhile, it peaked at $70.13 billion in August, aligning with ETH hitting a new record high of $4,956.

XRP has also seen a steady increase in futures OI, rising to $2.66 billion on Monday from $2.56 billion the previous day. The OI narrowed to $2.11 billion on March 4, undermining retail interest, considering it peaked at $10.94 billion in July. XRP required steady retail interest to sustain price increases.

Chart of the day: Bitcoin gains momentum

Bitcoin is trading above $73,000, with the near-term bias leaning bullish. The price holds above the 50-day Exponential Moving Average (EMA) at $72,821, with the SuperTrend indicator providing support at $64,908.
Momentum readings support the bullish tone, with the Relative Strength Index (RSI) lifting into the high-50s area on the daily chart and the Moving Average Convergence Divergence (MACD) indicator holding above its signal line in positive territory. The expanding green histogram bars of the MACD suggest buyers retain control after the latest dip was absorbed.

Initial support aligns near the 50-day EMA, where a daily close below would expose the next downside area around $70,000. A deeper break would bring the SuperTrend at $64,908 into focus. On the topside, immediate resistance emerges at the recent swing high at $74,450, with a clear break opening toward the 100-day EMA at $79,442.

Altcoins technical outlook: Ethereum and XRP buyers tighten their grip

Ethereum is edging up above $2,250, with the near-term bias mildly bullish. The SuperTrend indicator has flipped below the price, which acts as trailing support. The MACD indicator holds above its signal line on the daily chart, while green histogram bars expand, prompting traders to increase their exposure. Moreover, the RSI at 62 on the same chart underlines improving bullish pressure without yet reaching overbought conditions.
The 50-day EMA at $2,211 serves as the initial support while improving Ethereum's structural outlook. A daily close above that level would increase the odds of a steady price increase targeting the 100-day EMA at $2,517. Traders should not lose sight of the pivotal $2,000 level, as a close below it could expose Ethereum to the March 1 low at $1,907.

As for XRP, the price holds above $1.46 amid a mildly bullish outlook. The MACD indicator supports a steady bullish thesis, as it holds above its signal line on the daily chart while the histogram bars expand. At the same time, the RSI is extending above 56 on the same chart, suggesting that bullish momentum could continue.

A clear daily close above the resistance threshold between $1.51 and $1.54 would open the way toward the 100-day EMA at $1.71 and the 200-day EMA at $1.96. On the downside, a break below the current support at $1.46 would expose XRP to $1.40 and then $1.34, where previous lows converge, and the short-term bullish bias would come under pressure.

Crypto ETF FAQs

What is an ETF?

An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Is Bitcoin futures ETF approved?

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Is Bitcoin spot ETF approved?

Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.

Which are the pros and cons of crypto ETFs?

The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.

(The technical analysis of this story was written with the help of an AI tool.)