XRP is Now Accessible for DeFi on the $4.2 Billion Coinbase Network; Shiba Inu (SHIB) Surges 18% Amid Short Sellers, Bitcoin Steady Above $69,000: Morning Crypto Report

XRP holders can now participate in decentralized finance (DeFi) via the Coinbase-operated Base network, which boasts a total value locked (TVL) of $4.2 billion. Meanwhile, Shiba Inu (SHIB) has experienced an 18% increase this week, even as Bitcoin stabilizes above the crucial $69,000 mark ahead of the upcoming FOMC meeting on March 19.

Key Takeaways

The FXRP asset has officially launched on the Base network, allowing new DeFi opportunities for XRP holders.
Shiba Inu (SHIB) has surged 18% this week, climbing back into the top 30 cryptocurrencies.
Bitcoin remains steady, currently trading above $69,000, as the market anticipates the Federal Reserve's next moves regarding interest rates.

XRP’s New Chapter in DeFi
The FXRP asset has officially debuted on the Base network, which is managed by the renowned U.S. cryptocurrency exchange, Coinbase. This significant event opens new opportunities for XRP holders, allowing them to engage in one of the most vibrant DeFi ecosystems with a Total Value Locked of $4.2 billion.

Key details to note:

The total supply of FXRP has surpassed 100 million tokens.
Flare smart contracts have successfully undergone four independent audits, including assessments by CoinSpector and Zelig.

Here are two important facts regarding this new connection:

$FXRP (an F-Asset by Flare Networks) maintains a 1:1 ratio with $XRP.
The Base network ranks as a major DeFi player, currently holding the 4th position according to DeFi Lama, with a TVL of $7.95 billion, accounting for 3.4% of the market, following Ethereum, Solana, and Binance Chain.

XRP Now Available for DeFi

Despite these advancements, it is crucial to acknowledge that DeFi activities inherently carry high risks, including potential hacks and impermanent losses. Therefore, even with robust audits and reliability from Coinbase, it’s important for users to assess all risks before wrapping XRP for use on the Base network.

Shiba Inu's Impressive Price Rally

This week has also witnessed a remarkable price rise for the Shiba Inu token (SHIB), which has surged by 18%, moving from $0.00000527 to $0.00000624. This impressive turnaround is noteworthy for a token that faced a significant downturn in early 2026, losing 40% of its value at that time. SHIB is now confidently repositioning itself within the top 30 cryptocurrencies, currently holding the 26th spot, surpassing Zcash, Toncoin, and even Tether Gold.

Shiba Inu Liquidation Max Pain

The recent growth in SHIB's value appears to be primarily driven by technical factors. Last week, the token was just 2% from its Max Pain price on derivatives. This gap has since increased to 15.63% for long positions, while short sellers face a Max Pain threshold that is now 9.56% from the critical $0.00000728 level, where approximately $340,000 in short positions may be liquidated.

Bitcoin's Stability Ahead of FOMC Meeting

Bitcoin commenced the day with nearly a 3% gain, trading confidently at $72,500 and consistently remaining above the significant $69,000 level. This upward movement is likely influenced by fundamental factors, as Bitcoin is considered a risk asset, despite efforts to classify it as "digital gold." Its price movements remain closely correlated with market risk sentiment, particularly that of the Nasdaq.

The key elements influencing Bitcoin's valuation this week have mostly settled. The Consumer Price Index (CPI) release on March 11, which aligned with forecasts at an annual inflation rate of 2.4%, generated no major market upheaval.

BTC/USD Daily Chart

The market's focus now shifts toward the forthcoming FOMC meeting on March 19 and the anticipated remarks from Federal Reserve Chair Jerome Powell. Given the latest weak employment figures and steady inflation rates, expectations for Powell's commentary may likely lean towards a dovish stance.

There are no strong indicators suggesting that the Fed will adopt an aggressive approach to raise interest rates again, creating a more predictable environment for Bitcoin. Most significantly, the possibility of rate cuts could lead to more money being printed, which would mathematically enhance Bitcoin’s value.

As we head into the weekend, the key support and resistance levels for Bitcoin, Shiba Inu, and XRP are prominently defined and near.