XRP News Today: Bitcoin Surges 10% in Seven Weeks, Institutional Investors Pump $2.9 Billion

Bitcoin (BTC) has been on a bullish streak, attempting to sustain above $109,588, indicating strong buying on minor dips. This upward trend has continued for seven consecutive weeks, and if buyers can extend this streak to eight weeks, it could pave the way for further gains. According to crypto analyst and trader Carpe Noctom, Bitcoin has only seen three instances of eight consecutive weekly positive closes, and every time, Bitcoin has been higher in the following 6 and 12 month time period. Institutional investors continue to pump money into Bitcoin exchange-traded products (ETPs), with CoinShares reporting $2.9 billion in inflows last week, which is a quarter of the total inflows for 2024. However, some analysts warn of a possible short-term pullback in Bitcoin, with CryptoQuant contributor Crazzyblockk suggesting that data shows buyer exhaustion and increasing volatility, which could start a short-term correction toward $105,000.

The S&P 500 Index (SPX) turned down from 5,968 and reached the 20-day exponential moving average (5,759). If the price rebounds off the 20-day EMA, the index could gradually climb toward the overhead resistance of 6,000. Sellers are expected to pose a strong challenge in the 6,000 to 6,147 zone. The short-term advantage will favor the bears on a break and close below the 20-day EMA, with the index potentially plummeting to the 50-day simple moving average (5,584), which is likely to attract buyers.

The US Dollar Index (DXY) attempted to push above the 20-day EMA (100.15) on May 22, but the bears held their ground. Sellers are trying to strengthen their position by pulling the price below the 99 support. If they manage to do that, the index could continue its slide to the solid support at 97.92. Buyers are expected to defend the 97.92 level with all their might because a break below it may sink the index to 95.67. Buyers will have to drive and maintain the price above the 50-day SMA (101.26) to indicate that the corrective phase may be over.

Ether (ETH) turned up from the 20-day EMA ($2,425) on May 25, indicating solid demand at lower levels. The bulls will try to drive the price above the $2,738 obstacle again. If they succeed, the ETH/USDT pair could soar to $3,000. The bears will try to halt the up move at $2,850, but the bulls are likely to prevail. If the price turns down from the current level or the overhead resistance and breaks below the 20-day EMA, it suggests that the bulls are losing their grip. The pair could dip to $2,323 and then to $2,111.

XRP (XRP) has been oscillating between $2.65 and $2, signaling equilibrium between buyers and sellers. The flattish 20-day EMA ($2.34) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price turns up and breaks above $2.48, the bulls will have another go at the $2.65 resistance. If they clear the overhead hurdle, the XRP/USDT pair could soar to $3. On the other hand, a break and close below the 50-day SMA could sink the pair to the solid support at $2. Buyers are expected to vigorously defend the $2 level because a break below it may sink the pair to $1.61.

BNB (BNB) has started to move toward the overhead resistance of $693 after taking support at the 20-day EMA ($652). The upsloping 20-day EMA and the RSI in the positive territory indicate an advantage to buyers. If bulls kick the price above $693, the BNB/USDT pair could rally to the $732 to $761 overhead zone. Contrarily, if the price turns down and breaks below the 20-day EMA, it suggests that the bears are trying to seize control. The pair could slump to $633 and subsequently to the 50-day SMA ($617).

Solana (SOL) took support at the 20-day EMA ($169) on May 25, indicating that the sentiment remains positive and traders are buying on minor dips. The bulls will again attempt to drive the price above the $188 overhead resistance. If they can pull it off, the SOL/USDT pair could surge to $210 and eventually to $220. Sellers will have to pull the price below the 20-day EMA to prevent the upside. The pair could then plunge to the 50-day SMA ($151), which is likely to act as solid support. A bounce off the 50-day SMA could signal a few days of range-bound action between $153 and $188.

Dogecoin (DOGE) has been trading between $0.26 and $0.21, signaling buying near the support and selling close to the resistance. The price has bounced off the 20-day EMA, opening the gates for a rally to the overhead resistance of $0.26. Buyers will have to pierce the $0.26 level to start the next leg of the uptrend to $0.30 and then to $0.35. Alternatively, a break and close below the $0.21 support suggests the bears are back in the game. The DOGE/USDT pair could then swing inside a large range between $0.26 and $0.14 for some time.

Buyers are trying to keep Cardano (ADA) above the neckline of the inverse head-and-shoulders pattern but have failed to start a strong rebound. The 20-day EMA ($0.75) is flattening out, and the RSI is near the midpoint, indicating a balance between supply and demand. Buyers will have to propel the price above $0.86 to tilt the advantage in their favor. If they manage to do that, the ADA/USDT pair could rally to $1.01. Contrary to this assumption, if the price turns down and breaks below the neckline, it suggests that the bulls have given up. The pair could then drop to the $0.60 support, which is likely to attract buyers.

Hyperliquid (HYPE) has been in a strong uptrend for the past several days. Buyers asserted their supremacy by pushing the price above the $35.73 resistance on May 25. The bulls will try to maintain the momentum and push the price to $42.25, where the bears are expected to step in. If buyers do not give up much ground from $42.25, the uptrend could extend to $50. The immediate support on the downside is $35.73. If the HYPE/USDT pair rebounds off $35.73, it increases the likelihood of a rally above $42.25. Sellers will gain the upper hand on a break below $32.