In anticipation of the upcoming FED interest rate decision, the crypto market is showing strong movement. While Bitcoin continues to surge, some altcoins, like XRP, are facing challenges. Overall, the global crypto market volume increased by 3.33%, with the total market capitalization seeing a rise of 20.26%.
Bitcoin and Ethereum Lead the Market Rally
As of September 18, Bitcoin is trading at $60,660, marking a 4% increase in the last 24 hours. Throughout the day, Bitcoin fluctuated between $58,035 and $61,316, driven largely by a $186.76 million influx into Bitcoin ETFs. As a result, Bitcoin’s market capitalization has now reached $1.2 trillion.
Similarly, Ethereum has experienced a 2% gain, trading at $2,334. Ethereum’s lowest and highest prices today were recorded at $2,282 and $2,392, respectively. Ethereum’s market cap stands at $281.11 billion, as positive sentiment and investor interest continue to drive the token upward.
Solana Gains, XRP Slips
However, XRP struggled today, seeing a 1% drop to $0.5805. The token fluctuated between $0.5767 and $0.5932. XRP’s market capitalization has slipped to $32.73 billion, and speculation has increased following a large transfer by Ripple’s co-founder, Chris Larsen.
Meme Coins and Other Cryptos
Meanwhile, some other cryptocurrencies faced losses today. Helium (HNT) fell by 3%, trading at $6.76, while Maker (MKR) saw a 2% decrease, settling at $1,485. Arweave (AR) also dropped 1.5% to $18.72, causing short-term uncertainty among investors.
The Road Ahead for Cryptos
As the market reacts to the impending FED interest rate decision, investors are closely watching how it will impact Bitcoin and other major altcoins. While top coins like Bitcoin and Ethereum show strength, others, such as XRP, continue to face downward pressure. The coming days will likely bring more volatility as the market responds to the FED’s announcement.
