Fed Keeps Rates Unchanged, XRP Lawsuit Dropped, Pi Network Volatile

The crypto market concluded another week with significant developments surrounding the U.S. Federal Open Market Committee (FOMC) meeting, the XRP lawsuit, and the Pi Network. The Federal Reserve decided to keep interest rates unchanged at 4.25 to 4.5%, sparking speculations of a dovish stance as the year progresses. Fed Chair Jerome Powell stated that the inflation outlook is transitory, with the Donald Trump-induced tariff in North America being a key factor. The Fed appears to be gauging the impact of recent macro dynamics before making a rate cut decision. BitMex CEO Arthur Hayes anticipated a rate cut for April 1, which he believes could trigger a Bitcoin rally. Bitcoin closed the week at the $84K price level, while major altcoins mainly prevented downturns.

Simultaneously, Ripple’s CEO Brad Garlinghouse announced that the U.S. SEC has agreed to drop the XRP lawsuit. This news brought immense relief to the Ripple community and indicated a loosened grip on cryptocurrencies under Trump’s presidency. CLO Stuart Alderoty revealed the next steps following the U.S. SEC’s declaration of an appeal drop in the lawsuit. XRP price closed this week considerably above the $2 level, although the weekly chart showed a dip of 2%.

Pi Network captured the broader market’s attention with highly volatile price action over the past week. This volatility was attributed to nearly 129 million Pi Coins ready for an unlock, worth about $175 million, set to be added to the supply this month. The crypto saw rising adoption in the Asian landscape, with Vietnam-based Pi enthusiast Cryptoleakvn highlighting a surge in Pi-accepting regions across the country. However, the Pi token faced investor selloff concerns amid its turbulent price action this week. The lack of major announcements by the crypto team has added to market concerns about future movements.

In conclusion, the crypto market this week was significantly influenced by the FOMC meeting, the XRP lawsuit resolution, and the rising prominence of the Pi Network. The FOMC's decision to keep interest rates unchanged sparked speculations of a dovish stance, while the resolution of the XRP lawsuit brought relief to the Ripple community. The Pi Network's volatile price action and rising adoption in Asia added to the market's dynamic landscape. Despite these developments, the broader crypto market showed signs of recovery, with Bitcoin and altcoins stabilizing after a period of volatility. The macroeconomic environment and positive regulatory shifts have also contributed to a more stable outlook for the crypto market.