The forthcoming FOMC meeting and interest rate announcement in the US are influencing market movements. Bitcoin's value experienced a decline below $67,000, reaching $66,120 before rebounding to $67,300. Alongside Bitcoin's fluctuation, the activities of alternative cryptocurrencies like XRP, Floki, and AVAX have attracted significant attention. This analysis delves into the current scenarios of these popular assets.

XRP Overview

XRP has been embroiled in a prolonged legal battle between Ripple and the SEC, resulting in a suppressed price trend for an extended period. The regulatory pressure from the SEC, ongoing lawsuit proceedings, and substantial monthly sales by the company are identified as substantial barriers restraining XRP's price surge back to $1. Despite a temporary price ascent close to $1 after a legal triumph last summer, XRP regressed to around $0.50, the initial point of its upward trajectory.

Recent evaluations reveal that XRP is trading at $0.48 after a 3% decline in the past 24 hours. Consequently, its market capitalization dropped to $26.6 billion, while trading volume spiked by 35% to $1.5 billion. Speculation within the company and the crypto community suggests the imminent resolution of the lawsuit this year. Moreover, there are anticipations for XRP to join the ETF competition post Bitcoin and Ethereum.

Floki Coin Evaluation

In the domain of meme coins spearheaded by DOGE and SHIB, FLOKI has portrayed a consistent uptrend since the previous year. FLOKI captured interest with its burn updates and strategic acquisitions by DWF Labs, solidifying its position among the rising stars alongside PEPE. Currently, FLOKI is valued at $0.0002372, witnessing a 10% slump over the last 24 hours. Its market cap descended to $2.27 billion, securing the 45th spot in market cap standings. Despite the fluctuations, trading volume showed a marginal 1% rise to $423 million, indicating a cautious approach from investors regarding transactions.

AVAX Coin Analysis

Regarded as an Ethereum competitor alongside Solana, AVAX faced a significant downturn in 2022 after its dominance in the preceding bullish phase. Subsequent to the retracement, AVAX reclaimed its stance and established the 12th position in market capitalization. At present, AVAX is traded at $31.46, encountering a 2% decline in the recent 24 hours. Its market cap underwent a parallel drop to $12.3 billion. Notably, the trading volume for AVAX surged by 27% to $430.9 million within the last day, indicating heightened trading fervor surrounding AVAX in the marketplace.

This analysis provides insights into the diverse market activities propelled by the upcoming FOMC meeting and regulatory implications on key cryptocurrency assets like XRP, FLOKI, and AVAX.