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XRP cracked. Bitcoin wobbled. And the whole crypto market basically lost $25 billion in a single day after the Federal Open Market Committee wrapped its latest meeting with comments that killed any hope of easier monetary policy.
Bitcoin came into the week riding some genuine momentum. A proposed deal between the US and Iran got traders excited, and BTC climbed from below $64,000 all the way to $67,200. That felt good while it lasted. But the FOMC meeting — led by Kevin Warsh — changed the mood fast. Warsh’s post-meeting comments made clear that rate cuts weren’t coming anytime soon, and Bitcoin dropped hard, sliding to $63,600. More than $400 million in liquidations followed. It clawed back above $64,000 eventually, but it’s still sitting roughly 1% below where it was the day before, with a market cap of $1.290 trillion. Not exactly a confidence-inspiring recovery.
Bitcoin’s dominance over the altcoin market is holding — barely — above 56%.
XRP Slides, Analysts Eye $1.00
Ripple’s XRP fell below $1.20, and that’s got analysts pretty nervous. That level had been considered a key support point, and losing it opens up the possibility of a drop toward $1.00 if buyers don’t step in soon. XRP was already under pressure before the FOMC news hit, so the added macro weight didn’t help. No details yet on whether Ripple’s broader ecosystem activity has changed, but the price action alone is drawing attention.
Ethereum didn’t escape either. ETH slipped below $1,750, a threshold that had been watched closely by traders. Binance Coin lost its grip on $600 support. Zcash and Uniswap got hit harder — losses in the range of 7% to 12% across the day. Dexe also saw significant declines in that same range.
Ugly numbers across the board.
Stellar’s XLM Bucks the Trend
One asset that didn’t follow the crowd: Stellar’s XLM. It surged 10% to reach $0.24, which is a pretty remarkable move given everything else was bleeding. Unclear exactly what drove the XLM pop — the source didn’t specify — but it stood out sharply against the backdrop of double-digit losses elsewhere. In a market where most tokens were getting crushed, that kind of divergence catches attention fast.
The gap between XLM’s performance and something like Uniswap or Zcash tells you something about how fragmented crypto sentiment can get during a macro shock. It’s not a monolith. Some assets find a bid even when the broader market is panicking.
The total crypto market cap fell below $2.3 trillion, shedding $25 billion in roughly 24 hours. That’s a fast move. Markets had already been jittery heading into the FOMC meeting, and Warsh’s comments basically confirmed the worst-case scenario for rate-sensitive assets. Crypto, which had been leaning on hopes of looser financial conditions, got a reality check.
Geopolitical noise was also in the mix. The US-Iran deal speculation had briefly pushed Bitcoin higher earlier in the week, which means the FOMC reversal hit from a position of elevated expectations. That made the drop feel sharper than it might have otherwise. Traders who bought the geopolitical pop got caught on the wrong side when macro reality reasserted itself.
Bitcoin’s $1.290 trillion market cap and its 56%-plus dominance figure are the two numbers worth watching right now. Dominance above 56% means Bitcoin is still pulling the most weight in the space, but that reading is precarious. If Bitcoin keeps sliding, altcoins tend to follow — and in some cases fall harder. XRP at $1.20 is already testing that dynamic.
The $400 million in liquidations from the Bitcoin drop is also worth sitting with. That’s a significant flush in a short window, and it says something about how much leveraged positioning had built up during the rally to $67,200. When Warsh spoke, those positions unwound fast.
Ethereum below $1,750. BNB under $600. XRP under $1.20. Zcash and Uniswap down double digits. XLM up 10% to $0.24. Total market cap below $2.3 trillion. Bitcoin at $1.290 trillion with dominance above 56%.
Those are the numbers from a rough 24 hours — and XRP’s next move toward or away from $1.00 is probably the chart most traders are watching right now.
Hub: XRP price, news, and analysis
Frequently Asked Questions
Why did XRP fall below $1.20?
XRP dropped below its $1.20 support level following broad crypto market selling after the FOMC meeting, where Kevin Warsh’s comments dismissed hopes of looser monetary policy.
How much did the crypto market lose in 24 hours after the FOMC meeting?
The total cryptocurrency market cap shed $25 billion in roughly 24 hours, falling below $2.3 trillion following the FOMC meeting’s outcome.
