Altcoins, including Ethereum (ETH) and XRP, are experiencing upward movement alongside Bitcoin as traders explore new price levels not seen in months.
Ethereum and XRP are leading in terms of market cap and hourly growth rates, with Ethereum's price surging by 3% in the last 24 hours and over 41% for the week, indicating a positive trend for altcoins.
Institutional demand for Ethereum is increasing significantly, with price breaking the $2,500 mark driven by inflows and expected to reach $3,000 in the short term if accumulation by institutional funds continues.
The de-escalation of trade tensions between the United States and China following a 90-day pause on most tariffs has positively impacted financial markets, boosting trader confidence and leading to a new wave of institutional inflows in assets like Ethereum and XRP.