- Altcoin Updates: Ethereum and XRP Stabilize

Ethereum is trading above the 50-day Exponential Moving Average (EMA) as of Monday when this report was written. The rebound over the past five days indicates increasing demand from both retail and institutional investors.

The Relative Strength Index (RSI) on the daily chart is at (RSI) of 60 and trending upward, albeit slowly. Continued bullish momentum toward overbought territory would strengthen market confidence and increase the likelihood of a breakout above the 100-day EMA at $3307, with the 200-day EMA at $3353 also in focus.

The MACD indicator on the same chart continues to show positive divergence, with the blue line remaining above the signal line. Additionally, the green histogram bars are expanding above the average line, supporting bullish outlooks for Ethereum’s price.

Traders will watch for a close above the 50-day EMA to assess Ethereum’s potential recovery. Conversely, trading below this moving average could encourage profit-taking amid fears of a further decline below $3000.

Daily ETH/USDT Chart

As for XRP, buyers largely dominate the market, with its price hovering around $2.14 as of Monday when this report was written. The cross-border payment currency maintains its position above the 50-day EMA at $2.04, indicating buyer dominance.

The MACD on the daily chart supports bullish expectations for XRP, rising above the average line while the green histogram bars expand. The RSI on the same daily chart is at (RSI) of 65, gradually rising, which supports XRP’s upward potential.

Daily XRP/USDT Chart

Key milestones include a breakout above the 100-day EMA at $2.22 and the 200-day EMA at $2.35. A close above the moving averages, and thus above the downtrend line, would reinforce bullish prospects.

However, a close below the 50-day EMA could increase the chances of another decline below the key $2.00 level.