Ethereum soars on ETF inflows… Bitcoin and XRP also see bullish trends

The cryptocurrency market is showing a stable trend as it enters the third week of June. The global cryptocurrency market capitalization was recorded at $332 billion, a 1.10% increase from the previous week, and the daily trading volume surged by 15.94% to $8.962 billion. The Fear and Greed Index stands at 50, suggesting that market participants' sentiment remains at a neutral stage. Against this backdrop, institutional funds continue to flow in, with Ethereum (ETH) leading the strong trend by surpassing Bitcoin (BTC). Ripple (XRP) is also attracting investor attention as the possibility of resolving the uncertainty surrounding the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) emerges. We examined the weekly price movements of these three market-leading cryptocurrencies. Bitcoin (BTC) is trading at $107,113, showing a slight increase. While the recent increase has been limited to 1.02%, it is showing a breakthrough movement around the strong resistance level of $107,000 on the daily chart. With trading volume increasing by approximately 11%, if the lower support line at $105,000 remains solid, there is a forecast that the upward trend could continue to the target of $110,000. Analysts suggest that if it can stably maintain above $106,800 in the short term, a full-scale additional increase could be possible. Ethereum (ETH) is showing a notable strength as ETF inflows exceed $50 billion. The current price is $2,627, a 3.33% higher increase compared to Bitcoin. Technically, a movement to break through the upper end of the sideways channel is being detected, and if it surpasses the key resistance line of $2,633, a smooth approach to $2,800 is possible. However, if it falls below $2,550, a correction to $2,450 could occur, requiring caution on short-term trends. XRP rose by 1.60% to $2.18 but continues to remain below the 50-day moving average of $2.28, maintaining a short-term flat trend. However, it is stably maintaining above the 200-day moving average of $1.91, and the key support line at $2.01 remains firm, limiting downward pressure. The current market is focusing on the legal dispute between Ripple and the SEC, with XRP price potentially experiencing short-term volatility depending on Judge Torres' ruling. Particularly, if the weekly closing price exceeds $2.45, a rally towards the psychological barrier of $3 can be expected. Overall, ETF fund inflows are a major variable in this week's market, and the outcome of the Ripple situation is expected to significantly impact XRP. As all three major assets can show sensitive movements depending on geopolitical events and technical issues, investors need to closely monitor weekly chart trends and trading volume increases.