Crypto Today: Can Bitcoin, Ethereum and XRP regain their footing amid spot ETF outflows?

• Bulls remain unable to regain control of Bitcoin’s trend despite a rebound that has brought it close to $74,000.
• Upside in Ethereum remains constrained by falling moving averages and the SuperTrend line, even as the token firmly defends the crucial $2,000 level.
• Sellers retain the upper hand in XRP as spot ETFs register additional outflows, although its decline is losing pace near $1.00.

A cautious tone prevails across cryptocurrencies on Wednesday, with prices largely consolidating around key lower support levels and Bitcoin (BTC) leading the market near $74,000. Structural resistance continues to limit gains in Ethereum (ETH), the largest smart contract token, despite its position above $2,000. For Ripple (XRP), a fragile hold above $1.00 leaves the balance of risks tilted to the downside.

How are capital outflows weighing on crypto?

Demand for digital investment products remains subdued as Bitcoin spot Exchange-Traded Funds (ETFs) registered $95 million in outflows on Tuesday. The withdrawals extended the bearish run to a fourth consecutive day, taking total outflows for the week through Tuesday to $296 million.

A modest $1.32 million flowed out of Ethereum spot ETFs on Tuesday, leaving cumulative inflows at $11.74 billion. According to SoSoValue data, net assets under management average $11.64 billion, highlighting institutional investors’ positive long-term view of the underlying token.

Tuesday brought nearly $8 million in withdrawals from XRP spot ETFs, their second consecutive day of outflows. With cumulative outflows at $1.8 billion, net assets under management stand at $1.19 billion.

Weak risk appetite is also evident in the Fear & Greed Index: Wednesday’s reading of 29 remains in Fear territory, having slipped from 32 a day earlier. Investors are staying on the sidelines partly because of inflation pressure in the United States (US). Adding to the drag on sentiment, CME Group’s FedWatch Tool indicates a higher probability of an interest rate increase by the Federal Reserve (Fed) in December.

Technical analysis: Can Bitcoin defend short-term support?

The near-term outlook for Bitcoin remains clearly bearish at $74,061, with the price trading well below its 50-day, 100-day and 200-day Exponential Moving Averages (EMAs). Overhead, the first significant dynamic resistance is the 200-day EMA at $76,412. Next come the 100-day EMA at $77,487 and the 50-day EMA near $78,906, while the SuperTrend line around $80,249 strengthens the wider resistance zone.

Although the immediate selling momentum is easing, indicators still point to downside pressure. The Relative Strength Index (RSI) is close to 35, just above oversold territory, and the Moving Average Convergence Divergence (MACD) remains below zero, leaving momentum fragile.

To relieve immediate pressure, a recovery must first take Bitcoin back above the 200-day EMA at $76,412. It would then encounter the 100-day EMA around $77,487 and the 50-day EMA near $78,906 before testing the bearish structure marked by the SuperTrend at $80,249. The daily chart offers no clear indicator-based support levels, leaving room for further declines. A daily close above at least the 200-day EMA would be the minimum required for buyers to begin neutralising the prevailing bearish set-up.

Ethereum technical analysis: Can ETH hold support at $2,000?

A firmly bearish near-term bias persists in Ethereum, which trades at $2,065 as its decline extends well beneath the key moving averages. Above the price sit the 200-day EMA at $2,301 and the 100-day EMA at $2,327. Further overhead supply comes from the SuperTrend line at $2,337 and the 50-day EMA at $2,347.

Signs of exhaustion have yet to dispel the downside pressure indicated by weak momentum. The RSI stands near 31, just above the oversold band, while the MACD line remains deep in negative territory.

Any rebound would initially encounter resistance around $2,234, the area of the broken rising trendline. Sustaining a recovery beyond that point would bring a tightly packed resistance zone into focus: the 200-day EMA at $2,301 and the 100-day EMA at $2,327, followed by the SuperTrend at $2,337 and the 50-day EMA near $2,347.

Rallies are likely to attract selling while ETH stays below these successive resistance levels. A retest of lower psychological levels therefore remains a risk, although the current dataset does not identify clear structural support.

Technical analysis: Can XRP steady as sellers tighten their grip?

The bearish phase in XRP continues at $1.06, with the price significantly below the 50-day, 100-day and 200-day EMAs grouped roughly between $1.28 and $1.35. The SuperTrend at $1.22 provides another overhead barrier, further restricting upside.

A below-zero MACD points to continuing negative pressure and weak momentum. Meanwhile, an RSI reading of 24 signals oversold conditions that could temper further losses, but these have not yet produced a meaningful recovery.

The first resistance is near $1.22 at the SuperTrend level. Beyond it lies a dense group of EMAs: the 50-day EMA at $1.28 sits close to the broken downward trendline reference around $1.29 and the 100-day EMA at $1.30. The higher 200-day EMA at $1.35 represents a more strategic hurdle, which XRP would have to reclaim to reduce the broader bearish bias.

Further losses remain a risk while the pair stays beneath this layered resistance zone, as the daily chart shows no clear technical support below the spot price. Only a daily close above the $1.22-$1.30 area would begin to indicate stabilisation.

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