What to know:
- Bitcoin is flirting with $86,000, and XRP is strutting around with a 10% glow-up as the crypto market decides to play nice again.
- XRP’s glow-up is thanks to Ripple Labs finally saying “bye-bye” to its legal drama with the SEC and Bitnomial throwing a futures party for the token.
- Meanwhile, the Federal Reserve is playing it cool with interest rates, but President Trump is waving his arms like a kid in a candy store, calling for cuts and stirring the pot of uncertainty.
So, Bitcoin (BTC) is tiptoeing towards $86,000 while XRP is having a mini party with a 10% jump, leading the charge as crypto markets decide to stop sulking for a hot minute.
BTC decided to rise like a phoenix in the early hours of Thursday after the Wednesday FOMC meeting, where the Fed kept rates steady but lowered growth outlooks until 2027. Because who doesn’t love a good cliffhanger?
Ether (ETH) is playing it cool after a surprise 7% jump late Wednesday, ending the day up 3%. Solana’s SOL, dogecoin (DOGE), and BNB Chain’s BNB are all showing gains under 6%, while Uniswap’s UNI is throwing confetti with an 8% surge after passing a $165 million funding proposal. 🎉
XRP was feeling itself, jumping as high as 12% before deciding to take a breather, thanks to Ripple Labs finally wrapping up its long, drawn-out soap opera with the SEC. They announced that the case had “come to an end.” Cue the applause! 👏
And just when you thought it couldn’t get any better, Bitnomial announced it would launch futures tied to XRP for local investors starting Thursday. It’s like Christmas came early for crypto enthusiasts!
🚀 XRP futures are here! 🚀
Bitnomial is launching the first-ever CFTC-regulated $XRP futures in the U.S. — physically settled for real market impact. Plus, we’ve voluntarily dismissed our case against the SEC as regulatory clarity improves.
— Bitnomial (@Bitnomial) March 19, 2025
Meanwhile, President Trump is on a mission, insisting the Fed should cut interest rates as U.S. tariffs are about to make their grand entrance on April 1. His economic adviser, Kevin Hassett, is predicting a 2.5% growth rate, which is like saying, “Hey, I think we’ll be okay!” against the Fed’s more conservative 1.7% expectation.
“The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy,” Trump tweeted, probably while eating a cheeseburger. “Do the right thing. April 2nd is Liberation Day in America!!!”
Traders, however, are playing it safe, eyeing the market like a hawk and noting that this current action could just be a relief bounce. Because who doesn’t love a good bounce?
“The rally is probably a function of a relief bounce as markets steady back after 5 weeks of consecutive equity sell-offs, and traders are waiting for more hard data to make sense of this rollercoaster,” Augustine Fan, head of insights at SignalPlus, told CoinDesk in a Telegram message. Sounds like a fun ride, right?
Jeff Mei, COO at BTSE, echoed the sentiment in an email: “Overall market sentiment has been so weak these past few weeks that even Powell’s relatively neutral speech and the lack of negative comments caused crypto prices to rally.”
“Additionally, there haven’t been any new tariff announcements to shock the market. But hold onto your hats, folks! Things could change quickly, and we’re advising all our clients to stay observant and vigilant through the next few weeks and months as we navigate this wild ride of volatility,” Mei concluded. Buckle up, everyone!
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2025-03-20 11:17