CME Group has announced plans to launch XRP futures on May 19, pending regulatory approval. The new offering will include both a micro-sized contract (2,500 XRP) and a larger-sized contract (50,000 XRP), giving market participants flexible trading options. XRP futures will expand CME’s crypto product lineup, which already includes Bitcoin, Ether, and recently launched SOL futures. This move signals continued growth in the cryptocurrency market, catering to institutional investors’ needs.
Galaxy Digital, a leading crypto investment firm, has recently captured the crypto community’s attention. The firm recently transferred massive Ethereum (ETH) holdings to centralized exchanges.
The move comes when the crypto market navigates significant volatility, prompting investors to question whether this signals a major sell-off or reflects Galaxy Digital’s strategic portfolio management.
Galaxy Digital’s Persistent ETH Transfers to Exchanges
On-chain data reveals Galaxy Digital has executed a series of substantial ETH transfers to major exchanges in less than a week. On the morning of April 18, 2025, the firm sent 12,500 ETH, valued at approximately $20 million, to Binance.
Just a day earlier, on April 17, Galaxy Digital moved 12,181 ETH, worth around $19.02 million, to another centralized exchange. On April 16, an additional 12,500 ETH, valued at $20.31 million, was transferred to Binance. On April 15, another transaction involving 12,500 ETH and 5 million USDT was sent to the same platform.
In total, Galaxy Digital has moved a significant volume of ETH, worth over $100 million, out of its wallets in a short period. The scale and frequency of these transactions have sparked widespread speculation about the firm’s true intentions.
Sell-Off or Strategic Restructuring?
Large-scale ETH transfers to exchanges are often interpreted as a precursor to selling. If Galaxy Digital is offloading ETH, it could exert downward pressure on the asset’s price, particularly given the current market uncertainty.
ETH’s price has already declined significantly from its cycle peak. And Galaxy Digital’s transactions could amplify bearish sentiment among investors.
However, not all exchange transfers equate to a sell-off. Galaxy Digital might be preparing for other activities, such as providing liquidity for its financial products or executing swaps to diversify its portfolio. Still, these transfers’ sheer volume and rapid pace have raised concerns about their potential impact on ETH’s price.
Adding to the intrigue, these transactions coincide with Christine Kim’s resignation as Galaxy Digital’s Vice President of Research.
Kim, a well-known Ethereum expert, recently left the firm to pursue her ventures. While no direct evidence links her departure to the ETH transfers, the timing has fueled speculation about whether Galaxy Digital is reevaluating its stance on Ethereum.
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Cryptocurrencies price consolidated on Wednesday, with no significant gains or losses as traders awaited the Federal Reserve’s decision on interest rates. Bitcoin price fluctuated in the $82K to $83K range while Ethereum and XRP recorded a modest 1.5% and 0.4% gain, respectively. The total crypto market cap had also dropped by 1.4% to $2.8 trillion. This analysis explores how today’s FOMC meeting could impact crypto prices.
Cryptocurrencies Price In Focus Ahead of FOMC
Today’s Federal Open Market Committee (FOMC) meeting will be a major price mover across the cryptocurrencies and stock markets. Despite last week’s CPI print showing that inflation has cooledto 2.8%, 99% of investors at the CME expect that Fed officials will leave interest rates unchanged.
Analysts from Bank of America who spoke with Reuters noted that the March 19 FOMC meeting will be more about policy uncertainty, as Fed officials deliberate about whether inflation is on track to falling to the 2% target.
With markets already pricing in zero rate cuts, the focus will be on the speech by Fed Chair Jerome Powell for clues on whether he has shifted to a more dovish stance. Per analyst Crypto Ideology,
“What truly matters isn’t just the rate decision, it’s Powell’s tone and the forward guidance. Markets will be watching for any hints on future cuts, especially with June and July meetings in sight. Hold or not, volatility’s guaranteed.”
Powell’s speech may also offer insights into how policymakers view Trump’s trade policies and tariff plans, which have caused economic uncertainty. The Bank of Japan has cited higher US tariffs as the main reason for keeping rates steady.
Crypto Market Forecast With Fed Likely to Maintain Hawkish Stance
If Powell’s speech and the FOMC minutes reveal a hawkish stance, it will most likely stir a decline in cryptocurrencies price. Moreover, with no bullish catalyst in sight and top analysts predicting that the bull market has ended, the bearish impact of zero rate cuts and Powell’s speech could extend into Q2 2025.
Meanwhile, Polymarket odds of the Fed ending quantitative tightening by June 2025 have soared to 100%. CME also prices in a nearly 60 basis points rate cut by year-end, paving the way for crypto prices recovery in the second half of 2025.
Popular analyst Crypto Rover notes that if Powell were to say something positive in his speech, it could cause a price explosion for stocks and cryptocurrencies. At the same time, trader Kale Abe says that,
“I just don’t see how FOMC can be bearish. The bearish situation is literally almost 100% priced in.”
The Volmex Implied Volatility Index for Bitcoin and Ethereum has also dropped, indicating fewer speculative trades ahead of the FOMC report. This further proves that the market may have priced in the event.
Bitcoin & Ethereum Volatility Index
Therefore, it is likely that cryptocurrencies price might continue trading within a tight range or drop slightly after the FOMC meeting. However, the crypto market will do well in the long term as investors anticipate at least two rate cuts in 2025.
