The crypto market continues to show caution amid the expectation for the Federal Reserve's (Fed) decision on interest rates.
Expectations Ahead of Fed's Decision
The overall market capitalization of cryptocurrencies fell by 1.73% in the last 24 hours, now valued at $3.26 trillion. Bitcoin dipped below $106,000, while most major altcoins also showed minor losses. Expectations of no significant rate change from the Fed at the June 18 meeting have contributed to recent market hesitancy.
Declining XRP Activity
XRP sentiment aligns with the broader market cooldown. The Fear & Greed Index has settled at 48, signaling a cautious investor mood. This comes amid stagnant price movement and reduced exchange outflows from large wallets. Recent CryptoQuant data shows a significant decline in XRP Ledger outflows, particularly in the 1K–10K and 10K–100K token ranges.
Macroeconomic Factors and Regulatory Delays
In addition to Fed uncertainty, the SEC has delayed its decision on the Franklin Templeton spot XRP ETF. This delay adds to the market pressure at a time when clarity is increasingly critical for asset legitimacy. The passage of the GENIUS Act in the U.S. Senate adds another layer of policy impact, setting strict requirements for stablecoin issuers.
Currently, the market situation in the cryptocurrency space remains under pressure from macroeconomic factors and regulatory uncertainty, determining a cautious investor sentiment.
