Toscale Digest: Altcoin Rebound Pre-Fed (6h)

Crypto markets are stabilizing after recent volatility, with traders positioning ahead of the Federal Reserve’s policy decision. The primary theme is a cautious rebound in altcoins, particularly XRP, Hyperliquid, and Ethena, as participants assess whether key support levels hold during this high-impact window. Toscale tracks these movements closely to provide timely insights into market sentiment shifts.

XRP, Hyperliquid and Ethena rebound as traders eye Fed decision highlights the immediate focus on price action. Traders are monitoring if $XRP can maintain the $1.25 support level and break above $1.55, which could signal further upside momentum. The outcome of the upcoming FOMC meeting is expected to dictate the next major directional move for altcoins.

Calendar — past:

The Annual Budget Release in GB concluded earlier today. In Canada, the Overnight Rate was held at 2.5%, matching forecasts, while the BoC Monetary Policy Report and subsequent BoC Press Conference provided additional context for regional monetary policy. The US Interest Rate Decision and Fed Monetary Policy Statement are imminent, with forecasts expecting no change from the previous 3.75% rate.

Calendar — ahead:

The FOMC Press Conference at 18:30 UTC is the critical upcoming event, where Fed Chair Powell’s commentary will likely drive immediate market reactions.

Market read: Near-term crypto risk remains elevated due to the binary nature of the FOMC outcome. While altcoins like XRP are showing resilience, a hawkish surprise or dovish disappointment could trigger sharp reversals. Traders should watch for volatility spikes around the 18:00 UTC release and the subsequent press conference. Support levels at $1.25 for XRP are key; failure to hold them could lead to further downside pressure.