Crypto Today: Bitcoin, Ethereum, XRP edge down, testing support as resistance holds
Bitcoin, Ethereum, and XRP experienced price declines on Friday, testing key support levels amid mixed institutional interest and regulatory developments like the US Senate’s Digital Asset Market Clarity Act. Bitcoin saw inflows into spot ETFs rebound to $131 million, while Ethereum faced four consecutive days of outflows, and XRP’s ETF inflows remained modest despite a slight increase to $19 million.
Cryptocurrency markets saw broad declines on Friday, with Bitcoin, Ethereum, and XRP testing critical support levels after a failed recovery attempt. The US Senate Banking Committee’s advancement of the Digital Asset Market Clarity Act of 2025 contributed to the downward pressure, though institutional interest in Bitcoin spot ETFs rebounded with $131 million in inflows on Thursday. This reversed two days of outflows totaling $868 million, leaving cumulative inflows at $58.63 billion and net assets under management at $107.75 billion. Ethereum lagged behind, with spot ETFs recording nearly $6 million in outflows for a fourth consecutive day, reducing cumulative inflows to $11.90 billion and assets under management to $13.45 billion. Open interest in Ethereum perpetual futures also dropped to $32.78 billion, signaling waning trader confidence and increasing downside risk. Meanwhile, XRP spot ETFs saw $19 million in inflows, pushing cumulative inflows to $1.37 billion and assets under management to a four-month high of $1.25 billion. Bitcoin traded at $80,676, holding just above the 100-day and 50-day EMAs but remaining below the 200-day EMA at $81,743. The price action suggests a cautious bullish trend, though resistance at the Parabolic SAR level ($82,688) and the 200-day EMA limits upward momentum. A break below the $76,872 support level could trigger further losses, despite the medium-term uptrend remaining intact. Ethereum faced selling pressure, trading at $2,258 below key moving averages, including the 50-day EMA at $2,274 and the 200-day EMA near $2,547. The decline reflects fading retail interest and reduced trader confidence, with the RSI indicating bearish momentum. XRP remained range-bound between $1.40 and $1.50, with inflows failing to spark significant upward movement. Analysts note that Bitcoin’s near-term outlook depends on whether it can hold above $76,872, while Ethereum’s downside risks include a potential retest of the $2,000 demand zone. XRP’s recovery hinges on sustained ETF inflows and broader market sentiment. The mixed technical signals highlight the volatility in cryptocurrency markets amid regulatory and institutional developments.
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