The crypto market was shocked by the Fed’s meeting yesterday. The Federal Reserve gave its decision not to cut the interest rate, and investors are taking caution, with some pulling back their funds from digital assets since no cut means the U.S dollar is steady.
Aside from Bitcoin, which saw its price dip after the news, the rest of the major cryptocurrencies like Ethereum and XRP didn’t really react much. However, the piece of action in the next few days might need to
Bitcoin & Ethereum Sell Pressure Continues
According to data from CoinMarketCap, Bitcoin is currently trading for $104,245, a 3% drop recorded in the last 24 hours. Bitcoin has been dropping fast since May 22, when it hit its new all-time high of $111,000. It has been printing red candles with strong momentum ever since.
On the daily chart, the overall trend is bearish. To some analysts, this is just a short-term retracement for another possible rally. But right now, the price is creating a series of lower lows and strong sell momentum after tapping off a supply zone at $110,000.
The next swing low is at $102,838. If the price breaks this level, it could fall to $123k or even $100k. This zone has a demand that could give Bitcoin the liquidity it needs for another rally. Moreover, the Relative Strength Index RSI is at 40, which means the price still has room to sell before another surge.
Meanwhile, Ethereum has been consolidating between $2,333 and $2,866 since May 2025. Right, the bulls are controlling the market with this sideways consolidation forming a bearish flag pattern on the 4-hour timeframe.
However, there’s still hope if the price could break above the pattern. If that happens, we might see a climb to $3 or possibly $4.2 if the momentum is strong enough. If not, we might see more drop in price, possibly to $1.6. At the time of writing this report, ETH is trading for $2,500, which is just a 0.34% dip today, but it has dropped 8% over the last 7 days.
XRP seems to be showing a similar price action to Ethereum. It has also been consolidating sideways for a while. This is visible on the daily timeframe as the resistance zone on $2.69 and the support zone at $1.9 keep rejecting the price. XRP has been ranging between this zone since November last year.
The price broke out of an inverse head and shoulder pattern recently. It rallied up to $2.6 but dropped down to retest the May 6 daily candlestick that broke the pattern. However, the market has been consolidating in this zone instead of pushing up from it. On May 16, the price tried to surge on June 16, but the price was rejected. This might mean there isn’t enough liquidity in the zone.
However, if the market disrespects it, it could drop to retest the resistance zone at $1.9 before another zone. But if the zone later gets momentum, XRP could rally up to $3 or more. Right now, the price is holding steady at $2.15.
The global crypto market capitalization is currently at $3.2 trillion in valuation. This is a 0.23% drop in the last 24 hours, with $95 billion in trading volume.
Also Read: Trump Quietly Cuts Crypto Stake from 60% to 40% in WLFI
