We propose XRC, an explicit rate control algorithm that overcomes the poor performance of commonly used TCP variants in cellular networks. XRC exploits explicit feedback from the radio access network that is aware of the physical, network and transport layer information of all UEs as well as resource distribution policies for users with different traffic characteristics. XRC co-exists fairly with other XRC and non-XRC flows at the wireless and non-wireless bottlenecks while it strictly controls queuing delay within a small threshold. We implement XRC in NS-3 and examine its performance across a range of network loads and dynamics. When competing with CUBIC at a wireless bottleneck, XRC achieves a Jain's fairness index of 99.7% while providing a 3x lower median queuing delay compared to when CUBIC competes with CUBIC in the same setup.