Ethereum News Today: Ethereum Surges 1.66% to $3,648 Amid Regulatory Boosts and ETF Gains

In the ever-evolving landscape of cryptocurrency, Ethereum (ETH), XRP, and TRON (TRX) have exhibited distinct price movements over the past 24 hours. Ethereum saw a surge of 1.66%, reaching $3,648, while XRP experienced a decline of 1.05% to $3.42, and TRON dropped by 1.52% to $0.3197. These fluctuations highlight the divergent momentum and profit-taking strategies among these altcoins.

Ethereum's rise can be attributed to several key factors, including regulatory developments and technical breakthroughs. The GENIUS Act, signed on July 18, has bolstered trust within the stablecoin ecosystem by mandating a 100% reserve requirement. Additionally, BlackRock's ETF application, which aims to combine spot and staking returns, has contributed to Ethereum's ascent. The total assets under management of U.S.-based Ethereum ETFs have increased by 40% month-over-month to $14.87 billion, further solidifying Ethereum's position in the market.

On the technical front, Ethereum's breach above $3,500 was supported by a 7-day RSI nearing 94.9 and a MACD histogram asserting strength at +86.83. The price consistently staying above the 7-day EMA (9% over – EMA at $3,343) reflects short-term momentum dominance. The 23.6% Fibonacci level ($3,307) is monitored as intermediate support. The ETH/BTC pair’s climb from 9.71% to 11.38% over the last 30 days signifies capital rotation, while one address profiting $4.93 million in the past 24 hours indicates a prevailing hold-not-sell mentality among high-conviction investors. However, the overbought region presents potential for pullbacks or consolidation.

In contrast, XRP's recent 23% rally was followed by a 1.05% pullback post-$3.65 level, accompanied by routine profit-taking after the 7-day RSI hit a high of 86.87. A 57% reduction in 24-hour volume to $6.17 billion confirmed diminishing momentum. The transfer of 25.5 million XRP to Coinbase raised supply pressure concerns, while the derivatives’ 2.51 long/short ratio imbalance continued. As the price retreats to $3.42, the 23.6% Fibonacci support at $3.24 serves as the first defensive line, with $2.99 (38.2% Fib) as the next technical threshold. While the MACD histogram remains positive at +0.10155, the RSI cooling to 83.57 indicates waning momentum.

TRON's rejection at the 23.6% Fibonacci resistance of $0.316 and the upper Bollinger band (approximate swing peak of $0.334) led to profit-taking, triggered by RSI at 71.31. The slowing +0.0026 MACD histogram suggested the easing of strong momentum. The 7-day SMA at $0.310 is a crucial short-term support. A 46.9% volume drop and a rise in open interest by 18.8% to $517 million exacerbated leverage-related volatility. A 60% decline in network transactions since June and 71.32% of supply concentrated among whales intensified coordinated selling sensitivity. TRON’s $80 billion USDT presence continues to uphold regulatory pressure perceptions, while capital shifted towards higher beta assets like Stellar (weekly +63%).