Important Ripple v SEC Lawsuit Update, Bitcoin (BTC) Price Resurgence, and More: Bits Recap March 21

TL; DR

Bitcoin (BTC) hit a new high above $73,500, then fell below $61,000, but partially recovered to $66,500, likely influenced by the Fed's interest rate decision and the upcoming halving event. Ripple's XRP has received exchange support amid the SEC lawsuit, which highlights its regulatory challenges and market strength. Solana-based meme coins like Slerf and Book of Meme have seen price fluctuations that reflect the speculative and volatile nature of the crypto market.

BTC rally

Last week, the price of the main cryptocurrency rose above $73,500. But he couldn't keep up the pace. drop off Below the $61 mark on March 20 amid a broad market correction.

The trends look more positive today (March 21), with most digital assets in the green and global market capitalization jumping above $2.6 trillion. BTC briefly rallied around $68,000 before recovering slightly to its current level of around $66,500 (per CoinGecko data).

The asset recovery happened shortly after the Federal Reserve's decision. To keep interest rates unchanged. With the benchmark set at 5.25%-5.50%, the Fed said it would be “appropriate to lower the target rate until it has confidence that inflation is moving towards a sustainable 2% rate.”

Another thing that could have a positive impact on BTC's valuation in the near future. The next half (Scheduled for April). The event, which takes place every four years, slows down the rate at which new coins are minted and has previously been a precursor to major bull runs.

For those willing to explore more indicators that BTC is on another big rally, feel free to watch our latest video below.

Ripple developments

The main news surrounding the company is related to the lawsuit against the US Securities and Exchange Commission (SEC). Like CryptoPotato reportedThe parties have submitted a joint letter seeking the approval of the Chiefs to “regulate publishing matters related to the forthcoming settlement”.

The result of the trial is scheduled for April 23 It can be delayed As both parties can appeal any adverse judgment.

Ripple's native token—XRP—has also made headlines over the past few days. It has received support from leading cryptocurrency exchanges such as BitMEX and Atlantis Exchange It is allowed Marketing services with him.

Solana memes in the spotlight

The crypto market has experienced a major downturn lately, but that hasn't been the case for some Solana-based meme coins, which have seen significant price increases.

The newly emerging Slerf (SLERF) and Book Meme (BOME) are two obvious examples. The former recorded a daily climb of 70% on March 19, with the value close to the $1.30 mark. However, earlier this week the developer behind it accidentally got involved in some suspicious activity as well. Burned $10 million in cash raised from investors during the pre-sale. Currently, the price is hovering at $0.80.

BOME made headlines on March 16 in market capitalization He was elevated. Nearly $1.5 billion, placing it among the top 100 cryptocurrencies in no time. Yesterday (March 20), the price made another attempt to enter the club Sharp However, 30% did not achieve the goal. To date, BOME is the 153rd largest digital asset.