Hold onto your hats, crypto enthusiasts, because XRP is stealing the spotlight today among the big league altcoins!
Despite the Federal Reserve keeping interest rates steady, Bitcoin had a rollercoaster ride and soared to a multi-week high of over $87,500, only to hit a bit of a ceiling there.
The altcoin scene is also buzzing, with XRP leading the charge after Ripple scored a major win in their legal battle against the US SEC.
Last week was a bit of a rough patch for Bitcoin, but it managed to regain its footing by the weekend, lounging around $84,000. Then, Sunday brought some wild twists, thanks to big short positions on Hyperliquid, causing Bitcoin to trip at $85,000 and tumble to $81,200 by Tuesday.
But fear not, Bitcoin bounced back with a $2,000 recovery by Wednesday as everyone held their breath for the year's second FOMC meeting. Once it was announced that interest rates would stay put, Bitcoin wobbled a bit, dancing up and down by $1,000. However, it ultimately made a triumphant leap to $87,500, a level not seen since March 7. Although it couldn't hold the line above $86,000, it's still up 2.5% for the day.
If you're loving these market thrills, make sure to stay tuned for all the twists and turns of the crypto rollercoaster every day!
Bitcoin's market cap has swelled to $1.7 trillion, with its dominance over altcoins taking a slight dip to 58.4%.
In other exciting news, Ripple's CEO Brad Garlinghouse announced that the US SEC is dropping its legal case against Ripple after over four years! XRP didn't miss a beat, jumping from $2.3 to $2.6, then settling around $2.5.
Other altcoin stars making waves include SOL with a 5% rise, SUI climbing 5.5%, and UNI soaring 8%. ETH, BNB, ADA, DOGE, LINK, and XLM are also basking in green, albeit with more modest gains.
The total crypto market cap is up $70 billion since yesterday, now standing at a whopping $2.9 trillion. Buckle up, it’s an exhilarating time in the crypto world!
