XRP (XRP) has surged by 13.2% today to $2.53 per coin ahead of the closely watched meeting of the Federal Open Market Committee (FOMC) this afternoon.
As expected, the central bank opted to keep rates unchanged as the economy is performing well. Although inflation remains “somewhat elevated” it is still fairly close to the institution’s goal of 2% per year.
Chair Powell answers reporters' questions at the FOMC press conference on March 19, 2025. https://t.co/siWde1ROZb pic.twitter.com/t7FAOBxWa7
— Federal Reserve (@federalreserve) March 19, 2025
XRP is the best-performing token of the top 5, with annual gains of 22% at the time of writing, and it is the only one within this list that has delivered a positive performance during this period.
Trading volumes for XRP in the past 24 hours have exploded by 143% and currently stand at $8.4 billion as the market rallied since the American session closed yesterday.
Other tokens like Ethereum (ETH) and Solana (SOL) have also performed positively in the past day, with gains of 7.8% and 5.2%, respectively. Today’s rally resulted in over $190 million worth of short positions being liquidated in the past 24 hours.
XRP shorts accounted for nearly 10% of that total, while $71 million worth of ETH shorts were also wiped.
XRP Needs to Break Above $2.67 to Reverse Its Downtrend
Heading to the price action, the daily chart shows that XRP has bounced once again of this wide support area, ranging from $1.75 to $1.90, and is currently approaching a key resistance at $2.67 that could act as a ceiling for today’s rally.
The FOMC’s statement seems to have been welcomed by the market as the price of all digital assets rose right after Powell delivered his speech. He confirmed that interest rates will be cut twice this year.
The fact that the central bank did not change course amid the latest hostile policies adopted by Trump on the trade front seems to have reassured market participants.
If XRP manages to rise above $2.65 in the next few days, we could witness a significant recovery in the price of the native asset of the Ripple network, as this would be indicative of a trend reversal.
Momentum indicators favor a bullish outlook as the Relative Strength Index (RSI) has spiked above the signal line during today’s rally. Meanwhile, the MACD’s histogram shows steadily rising positive momentum readings as well.
As the market improves, demand for the best crypto presales like Solaxy ($SOLX) will likely accelerate as investors regain their confidence to invest in new projects that offer robust value propositions.
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Back in January, when TRUMP and MELANIA were launched, the Solana blockchain experienced delays and delivered transaction errors to users, decentralized apps, and exchanges as transaction volumes skyrocketed.
Solaxy fixes this and its native asset, $SOLX, will experience a significant spike once exchanges, wallets, and other Web 3 solution providers embrace its layer-two protocol.
Apart from the upside potential that this utility token offers to early buyers after it is listed on exchanges and liquidity rises, Solaxy also offers attractive staking rewards of 151% to investors who are willing to lock in their tokens to secure the network.
At its discounted presale price of $0.001668, $SOLX could become the best ICO of the year once the event ends.
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