Why Crypto Is Going Up? XRP, Bitcoin, Ethereum and Dogecoin Prices Lead Surge Today

Institutional interest remains a primary driver of the current recovery, with BlackRock's iShares Bitcoin ETF now holding over 760,000 BTC, reflecting sustained institutional accumulation despite recent volatility. The Fear and Greed Index has improved from extreme fear levels to neutral territory, indicating improved market sentiment among traders.

Paul Howard from Wincent noted significant institutional and retail support emerging at $110,000 from investors who missed Bitcoin's $100,000 level, explaining the current bounce. However, he cautioned that "the macro environment remains a little uncertain the last week" and that "there is still downside risk until we see a bigger macro move the coming month".

Despite recent U.S. Bitcoin spot ETF outflows of $418.25 million on September 26, with Ethereum ETFs seeing $248.31 million in outflows the same day, the underlying institutional demand structure remains robust. Long-term holders continue to demonstrate conviction, with XRP showing particularly strong holder commitment as a large share of tokens hasn't moved in over a year.

The Federal Reserve's recent interest rate cuts have created a more supportive environment for risk assets including cryptocurrencies, though the full impact may still be developing. Lower interest rates increase liquidity in financial markets and reduce the opportunity cost of holding non-yielding assets like Bitcoin.

Bitcoin is reclaiming critical technical levels after bouncing from the $110,000 support zone that attracted institutional and retail buyers who missed earlier entry points. From my technical analysis, Bitcoin has successfully broken back above its 50-day exponential moving average (50 EMA) and the psychologically important $112,000-$114,000 resistance zone that coincides with previous all-time highs from May.

The world's largest cryptocurrency was testing the lower boundary of its established consolidation range between $108,000-$123,000, with increased chances of retesting historical maximums from August if current momentum continues. Bitcoin remains above its 200-day moving average, confirming the broader uptrend remains intact despite recent volatility.

According to my predictions, Bitcoin must hold above its 50-week exponential moving average near $100,000 to maintain the path of least resistance to the upside, with potential targets at $119,000 and $131,000 based on Fibonacci extensions.

Ethereum has mounted an impressive recovery, gaining over 3% as it bounces from local lows below $4,000 and reclaims the critical $4,100 level. The second-largest cryptocurrency is encountering resistance at its 50-day exponential moving average around $4,200, but maintaining levels above $4,000 keeps alive prospects for a return toward the $5,000 zone tested in mid-August.

Institutional accumulation has provided strong support, with nearly $1 billion flowing into Ethereum through digital asset treasuries this week, highlighting growing institutional confidence in the asset's long-term prospects.

For Ethereum, sustained trading above $4,000 keeps alive prospects for a return to the $4,800 resistance zone.

XRP is posting its fourth consecutive session of gains, testing resistance near $2.93 after recovering from the crucial support zone between $2.65-$2.72. This support area aligns with the lower boundary of XRP's current consolidation pattern, established by May highs that were successfully defended as support in August and early September.

From the perspective of my technical analysis, XRP is moving within a time-limited bullish pennant formation, with a potential breakout that could drive prices toward the $5.00 target mentioned in previous analyses. Key resistance levels remain at $3.13, $3.33, and $3.55 as the token builds momentum for a potential sustained rally.

XRP’s price ability to break above $3.13 could trigger the bullish pennant breakout toward $5.00 targets.

Dogecoin has stabilized after last week's sharp decline, finding support at the 50-day exponential moving average around $0.22. The meme token is recovering within its established consolidation range between $0.20-$0.29, where technical indicators suggest near-term upward movement is more likely than continued weakness.

The current price action represents a rebound from the convergence of the 50% Fibonacci retracement, 200-day exponential moving average, and an uptrend line drawn from July lows, creating a strong technical foundation for further gains.

Dogecoin's recovery within its $0.20-$0.29 range suggests potential for testing the upper boundary near $0.29 if broader market momentum continues.

The timing of the current recovery aligns perfectly with historically bullish seasonal patterns that have consistently driven cryptocurrency prices higher during the fourth quarter. October has averaged an impressive 21.89% return for Bitcoin since 2013, earning the month its "Uptober" nickname among traders.

Joel Kruger from LMAX Group provided compelling historical context: "October has historically been the second-strongest month for the cryptocurrency, delivering an average return of 22% since 2013. November is even more striking: the best-performing month of all, with average gains of an extraordinary 46% over the same period".

The strategist emphasized that September's weakness was actually predictable and potentially bullish for the months ahead: "Just a couple of weeks ago, we noted that bitcoin's strong mid-September rally might give way to a cooler spell—a caution grounded in history, as September has consistently been bitcoin's weakest month since 2013. True to form, bitcoin has indeed come under pressure as September draws to a close. Paradoxically, this is good news".