Bitcoin, Ethereum, and Ripple Rally as Fed Cut Boosts Crypto Sentiment
Bitcoin (BTC) traded strongly on Friday, holding above $117,000 after the U.S. Federal Reserve announced a 25 basis point rate cut. The move initially caused volatility, but BTC quickly recovered as investors viewed the decision as a supportive signal for risk assets. The rally came just days after Bitcoin broke above the 50-day Exponential Moving Average and pushed past the $116,000 resistance level, which has now flipped into a solid support zone. Market participants believe that if Bitcoin continues to attract momentum, the psychological $120,000 barrier could soon come into play, potentially opening the door for another wave of gains. This upward trajectory has been reinforced by a weaker U.S. dollar index, which slipped to multi-year lows after the Fed’s announcement.
Ethereum Holds Steady With Path Toward $3,600
Ethereum (ETH) also maintained firm footing, trading slightly above $4,500 on Thursday. Although ETH has been consolidating below key resistance, institutional demand and positive on-chain developments have provided consistent support. The second-largest cryptocurrency by market capitalization has shown resilience in the face of broader market corrections, and analysts suggest that a decisive breakout could clear the way for a move toward the $3,600 level. The Fed’s rate cut, which has lifted overall investor sentiment, is expected to keep Ethereum supported in the near term.
Ripple Benefits From Easing Signals
Ripple (XRP) emerged as one of the day’s stronger performers, rising about 1.5 percent and trading near $3.08. The token gained momentum after Federal Reserve Chair Jerome Powell signaled that more rate cuts could follow if labor market weakness persists. This dovish tilt has sparked renewed optimism for assets such as XRP, which has also benefited from institutional interest and ETF-related developments. Market watchers highlight that XRP is building solid support levels, and if momentum from Bitcoin and Ethereum spills over, the token could attempt to break through the $0.70–$0.75 zone in the near future.
Altcoins Add to Market Strength
Beyond the three market leaders, several altcoins also showed impressive strength. ImmutableX (IMX) extended its rally for the fourth consecutive day, climbing around 10 percent. The move allowed IMX to break past the 50 percent Fibonacci retracement level of its December 4 high to June 22 low range, surpassing $0.868. Analysts now see the 61.8 percent retracement level at $1.087 as the next major resistance. Near Protocol (NEAR) and Avalanche (AVAX) also attracted strong buying, reflecting a broader return of bullish sentiment across the altcoin space.
Fed Easing Fuels Risk Appetite
The Federal Reserve’s decision to trim rates has added fresh fuel to the cryptocurrency market. While short-term volatility is likely, Bitcoin’s push toward $120,000, Ethereum’s resilience above $4,500, and Ripple’s strong momentum around $3.08 suggest the top three digital assets are well positioned to extend gains. Combined with altcoin strength from projects like ImmutableX, NEAR, and AVAX, the crypto market appears set to benefit from renewed risk appetite as investors position for the next leg higher.
