TLDR 

MARKET RECAP → Stocks closed in the green on Wednesday as the market continued its battle to stay out of correction territory, and the Fed’s rate decision today came largely in line with expectations.

SEC DROPS LAWSUIT AGAINST RIPPLE, XRP SURGES →⚖️ The SEC has officially dropped its lawsuit against Ripple Labs, leading to a 10% surge in XRP's price and marking a pivotal moment for cryptocurrency regulation.

FED HOLDS RATES STEADY, STILL EYES TWO CUTS IN 2025 → The Fed kept rates steady but reaffirmed plans for two cuts in 2025. It eased balance sheet runoff to support markets, while trade uncertainty and inflation risks kept investors on edge. 📉

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TODAY’S TOP NEWS

SEC Drops Lawsuit Against Ripple, XRP Surges

SEC Ends Legal Battle: ⚖️ The U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple Labs, as announced by CEO Brad Garlinghouse. This concludes a legal battle that began in December 2020, when the SEC alleged Ripple's XRP sales violated securities laws. ​

XRP Price Surge: 📈 Following the announcement, XRP's price surged by 10%, reflecting renewed investor confidence and optimism about Ripple's prospects. ​

Industry Implications: 🌐 Ripple's victory is a significant milestone for the cryptocurrency industry, potentially influencing how digital assets are regulated and paving the way for more favorable regulatory frameworks.

TODAY’S TOP NEWS

Fed Holds Rates, Signals Cuts But Keeps Options Open

Hold The Line: 📉 The Federal Reserve kept interest rates unchanged at 4.25%-4.5% but reaffirmed plans for two rate cuts in 2025 despite mounting uncertainty from tariffs and slowing growth. The Fed also revised GDP growth projections down to 1.7% while nudging inflation expectations slightly higher.

Slow Down:💰 In a surprise move, the Fed scaled back its balance sheet reduction efforts, reducing monthly Treasury runoff from $25 billion to $5 billion. The shift was seen as a backdoor rate cut to ease financial conditions without officially lowering interest rates.

Markets Rejoice: 📊 Markets cheered the announcement, with the Dow jumping 400 points, but Fed Chair Jerome Powell cautioned that cuts remain conditional on inflation progress. Meanwhile, growing trade tensions and mixed economic data fueled investor unease, as uncertainty loomed over Trump’s next round of tariffs.

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