Bitcoin, Ethereum and XRP are stuck in tight ranges as traders watch today’s Fed decision and, more importantly, Powell’s tone to decide the next big move.
Summary
- Bitcoin is consolidating just under $90k, with bulls eyeing a break above 90,000 for a fresh leg higher and bears watching 85,000 as the line that opens deeper downside.
- Ethereum holds near 3,000 after repeated tests of the 2,700–3,300 band, with analysts warning a dip toward 2,700 could be a bear trap before any push toward 3,500.
- XRP is accumulating between $1.70–$1.90 but still capped below $2.40, with a clean break seen as the trigger for a run at $3–$3.50 if buyers keep defending the $1.70 floor.
Federal Reserve anxiety is gripping crypto markets this morning, with Bitcoin, Ethereum and XRP (XRP) pinned in tight ranges ahead of today’s FOMC decision and, more importantly, Jerome Powell’s tone on the path of rates.
Fed decision looms as Bitcoin, Ethereum and XRP coil at key levels
Analysts note that traders are no longer fixated on the headline decision. Instead, “Powell’s tone and forward guidance are likely to drive volatility, not the actual rate decision itself,” as market commentary around the meeting stresses that inflation, labor-market language and any hint of future easing or tightening will set the next major move. That shift in focus has translated into compression across majors: Bitcoin is “consolidating below $90k,” trading around 89,230 and “on the edge of a sharp bounce,” with any break above the 90,000 region seen as a trigger for renewed bullish participation, while a drop through 85,000 opens the door to a deeper drawdown. Over the last 24 hours, BTC (BTC) has hovered near 89,100 with a modest gain of roughly 0.8 percent, underscoring the market’s wait‑and‑see stance.
Ethereum has “shown relative resilience compared to Bitcoin,” holding above the 3,000 support zone as participants keep positions defensive rather than directional. Technically, ETH has repeatedly tested a 2,700 support and 3,300 resistance band in recent months, with analysts warning that sitting at the lower end “may showcase a bear trap” before a potential break toward 3,500 if 3,300 finally gives way; a failure of 2,700 would expose 2,500 on the downside. Over the last day, ETH trades near 3,000, up around 2–3 percent, with a 24‑hour range roughly between 2,900 and just above 3,020.
XRP meanwhile is building a base just above the Federal Reserve’s line of fire. The token has “showcased accumulation near the key demand zone of $1.70–$1.90,” but “has not broken decisively past the hurdle of $2.40,” signalling still‑muted risk appetite despite renewed institutional interest. Strategists argue that a clean break through 2.40 could unlock “a major upswing toward $3 followed by $3.50,” as long as buyers defend the 1.70 floor that keeps the bullish structure intact. Over the last 24 hours, XRP is changing hands around 1.91, up roughly 0.4 percent on the day, with intraday lows near 1.87 and highs just under 1.92.
Derivatives and rate‑probability tools back the calm. According to the CME FedWatch Tool, markets are “overwhelmingly pricing in a rate pause at the current range,” shifting attention “away from rates themselves” and toward Powell’s guidance, which has historically mattered more for crypto than an unchanged policy line. Until the press conference, majors look “stable and structurally prepared for volatility once clarity arrives” — a coiled market waiting for a sentence or two from the Fed chair to decide the next leg.
