The cryptocurrency market began the week on an optimistic note with increased buying activity for XRP, Chainlink, and Ethereum. These assets show signs of growth amid decreased selling and increased capital inflows.
XRP: Momentum Boost from Decreased Selling
Recent reductions in selling by large investors have led to an increase in the Chaikin Money Flow indicator for XRP. Despite a decline in price peaks, the upward flow of funds signifies active accumulation, indicating a potential short-term breakout.
Chainlink’s Growth Potential
The accumulation of 1.6 million LINK by whales confirms that the breakout above $20 was no coincidence. If $20 becomes a new support level, gradual rises to target prices of $22 and $28 are anticipated.
Ethereum: Surge in Institutional Investments
Ethereum is attracting investor attention thanks to record levels of inflows into ETFs initiated by BlackRock, Fidelity, and Grayscale. Daily inflows remain above $200 million, supporting the notion of a broad uptrend in the market.
Despite volatility, the cryptocurrency market shows positive trends, especially in relation to XRP, Chainlink, and Ethereum. Sustained interest from institutional investors may lead to further strengthening of these assets.
