Bitcoin extended gains on Thursday, surging 3% to $85,775.5 as risk sentiment improved following the Federal Reserve’s latest policy update. The central bank kept interest rates unchanged and reaffirmed its projection of a 50-basis-point cut by year-end. Investors welcomed the move, seeing it as a signal of financial stability amid economic uncertainty.
The crypto market, closely tied to broader risk assets, responded positively. Wall Street also rebounded from recent lows, further fueling Bitcoin’s recovery. Despite concerns over inflation and global trade policies, lower rate expectations strengthened market optimism.
Key Takeaways:
- Bitcoin price: Up 3% to $85,775.5.
- Fed policy update: No drastic changes, rate cuts expected by year-end.
- Market sentiment: Improved, aiding speculative assets like crypto.
XRP Surges 7% After SEC Drops Lawsuit Against Ripple
XRP emerged as a standout performer, climbing 7.3% to $2.4599 after the U.S. Securities and Exchange Commission (SEC) formally dropped its lawsuit against Ripple. The regulatory shift, driven by changes under the Trump administration, has bolstered investor confidence in XRP’s future.
The SEC, now led by pro-crypto figures, previously dropped cases against major exchanges like Coinbase and Kraken. Ripple’s victory further strengthens the argument for regulatory clarity in the crypto sector.
XRP Price Surge Factors:
- SEC lawsuit dropped, removing legal uncertainty.
- Pro-crypto leadership reshaping U.S. regulations.
- Increased investor confidence in Ripple’s future.
Altcoins Follow Bitcoin’s Lead, Ethereum Gains 4%
Broader crypto markets mirrored Bitcoin’s bullish trend, with major altcoins posting gains:
- Ethereum (ETH): Up 4.1% to $2,018.12.
- Cardano (ADA): Added 2.9%.
- Solana (SOL): Jumped 6.4%.
- Polygon (MATIC): Rose 2.6%.
- Dogecoin (DOGE): Gained 4.1%, showing renewed interest in meme coins.
- $TRUMP Token: Up 3.6%, reflecting continued speculation in political-themed crypto.
With Bitcoin stabilizing above $85K and regulatory clarity improving, the crypto market is poised for further momentum. Analysts remain optimistic, especially for XRP, with price targets exceeding $3 in the coming months.
