Crypto Market Concludes Another Week Marked by US FOMC Decision, XRP Lawsuit End, and Pi Network Fluctuations

The crypto market concluded another week, primarily witnessing major developments surrounding the U.S. FOMC, XRP lawsuit, and Pi Network.

The crypto market saw another week conclude, mainly with major developments unfolding around the U.S. FOMC, XRP lawsuit, and Pi Network. While the former saw the Fed keep interest rates unchanged, the latter had the SEC drop the lawsuit, bringing cheer to the Ripple community.

Moreover, Pi Network clocked in around the $1 mark this week, sparking a wave of speculation among investors. Other developments like a SUI ETF filing followed, stirring market optimism globally.

Some of the top market updates reported by CoinGape over the past week are mentioned below:

US FOMC Sparks Speculations With Unchanged Interest Rates

The crypto market saw the latest U.S. FOMC come into play, with the Federal Reserve deciding to keep interest rates unchanged at 4.25 to 4.5%. However, speculations of a dovish stance as the year progresses persist across the market.

As the year unfolds, the Fed Chair Jerome Powell mentioned that the inflation outlook is transitory, considering the Donald Trump-induced tariff in North America. Notably, the Fed appears to be measuring the impact of recent macro dynamics before making a rate cut decision.

Further, BitMex CEO Arthur Hayes took the stage amid the FOMC decision, stating that he believes a rate cut is looming for April 1. In turn, the CEO also anticipated a BTC rally to follow, should the feat happen. Bitcoin closed the week at the $84K price level, whereas major altcoins mainly prevented downturns.

XRP Lawsuit End: Confirms Ripple CEO

Meanwhile, Ripple’s CEO Brad Garlinghouse stated that the U.S. SEC has agreed to drop the XRP lawsuit. While this news brought immense relief to the Ripple community, a butterfly effect occurred in the crypto market.

The SEC’s stance on cryptocurrencies saw a loosened grip during Trump’s presidency, which later saw a shift towards a stricter approach with former Chair Gary Gensler. However, the presidents usually do not interfere with the legal proceedings of the SEC.

In the interim, XRP price closed this week considerably above the $2 level, although the weekly chart showed a dip of 2%.

Pi Network: What’s The Buzz?

Pi Network stole the broader market’s attention, showcasing a highly fluxing action over the past week. CoinGape reported that this volatility came attributed to nearly 129 million Pi Coins ready for an unlock, worth about $175 million, set to be added to the supply this month.

On the other hand, the crypto saw rising adoption in the Asian landscape this week. Vietnam-based Pi enthusiast Cryptoleakvn recently shared an update on X, 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, mentioned above were some of the top crypto market updates reported by CoinGape over the past week. It’s also worth mentioning that Canary Capital filed for SUI ETF approval with the U.S. SEC this week.