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The upcoming FOMC meeting and interest rate decision in the US are causing market activity. Bitcoin’s price recently dropped below $67,000, touching $66,120 before recovering to $67,300. While Bitcoin’s price remains volatile, movements in some altcoins have also caught attention. Let’s examine what’s happening with XRP, Floki, and AVAX, which have been popular among investors.
XRP Analysis
XRP, at the center of the ongoing lawsuit between Ripple and the SEC for over three years, has seen its price suppressed for a long time.
SEC’s pressure on the company and the lawsuit processes, along with the company’s monthly multi-million dollar sales, are considered major obstacles to the price returning to $1.
Last summer, XRP nearly returned to $1 following a partial victory in the lawsuit, but later fell back to around $0.50, the level where the rise had started.
Recent analysis shows that after a 3% drop in the last 24 hours, XRP is trading at $0.48. Following this drop, market cap fell to $26.6 billion, while trading volume increased by 35% to $1.5 billion.
Company officials and the cryptocurrency community widely believe the lawsuit could conclude this year. Additionally, XRP, along with Solana, might enter the ETF race after Bitcoin and Ethereum.
Floki Coin Analysis
In the meme coin world led by DOGE and SHIB, FLOKI has been steadily rising since last year. FLOKI gained attention with burn news and DWF Labs’ purchase decisions, positioning itself at the center of the rise along with PEPE.
Today, FLOKI is trading at $0.0002372 after a 10% drop in the last 24 hours. Its market cap fell to $2.27 billion, placing it 45th in market cap rankings.
FLOKI’s trading volume increased by 1% to $423 million, indicating that investors remain cautious about buying and selling.
Avax Coin Analysis
AVAX, known as an Ethereum killer along with Solana, saw a sharp decline in 2022 after dominating the previous bull run. After the decline, AVAX recovered and ranked 12th in market cap.
Today, AVAX is trading at $31.46 after a 2% drop in the last 24 hours. Its market cap also fell similarly to $12.3 billion.
AVAX’s trading volume increased by 27% to $430.9 million in the last 24 hours, indicating intense AVAX trading activity in the market.
