XRP Price Prospect: With SEC Delaying Decisions on DOGE and XRP ETFs, Solana's Layer-2 Solaxy Prepares for a Presale Worth $33 Million
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The XRP price plummeted over 2% in the last 24 hours, trading at $2.22 as of 3:30 a.m. EST, on a 33% drop in trading volume to $2.4 billion.
This slide comes as the US Securities and Exchange Commission (SEC) delayed decisions on XRP (XRP) and Dogecoin (DOGE) exchange-traded funds (ETFs) on Tuesday. The SEC has set June 15 for the next steps of the Bitwise DOGE ETF and June 17 for the Franklin XRP fund.
XRP Token Price Breakdown: Bullish or Bearish?
Take a gander at the XRP daily chart, and you'll notice a crucial technical pattern unfolding. The Ripple token has been consolidating within a descending triangle, a pattern typically seen as bearish.
But, the plot thickens. The XRP price recently busted through the upper boundary of the triangle, hinting at a potential trend reversal or bullish breakout.
This breakout is fortified by a strong upward momentum after rebounding from a sturdy support base near the $2.00 mark, as per GeckoTerminal data. The bullish narrative is further bolstered by the structure labeled A-B-C-D, which resembles a bullish harmonic pattern or a classic example of price compression leading to a breakout.
The breakout occurs around point D, indicating renewed buying pressure. The XRP price has also reclaimed the 0.382 Fibonacci retracement level ($2.2472), offering additional validation for the breakout's strength. This level is now serving as support, with XRP trading just above it.
Moreover, the 50-day Simple Moving Average (SMA) at $2.1942 is acting as a temporary floor, and XRP is trading above both the 50-day and the 200-day SMA ($2.0097), indicating an overall bullish alignment.
As for the Relative Strength Index (RSI), the current value reads 53.81, signaling moderate-to-bullish momentum. This suggests the RSI isn't yet in overbought territory, leaving room for further upward movement before the market gets too hot.
The MACD (Moving Average Convergence Divergence) indicator shows potential for a bullish surge as well. The MACD line (blue) hovers slightly above the signal line (orange), and both are above the zero line, indicating that a positive momentum is gradually building up.
XRP Token Price Forecast
Based on the breakout from the descending triangle and the supportive indicators, the projected XRP price target stands at $3.32, which represents a 48.16% increase from the breakout point.
This target coincides with the peak of the previous price swing, making it a logical resistance zone and the next bullish target.
As long as the Ripple Token price stays above the 50-day and 200-day SMAs and holds the $2.20-$2.25 support zone, the bullish scenario continues to hold water.
But, if the breakout fails and the Ripple Token price drops below $2.00, it would negate the bullish pattern and possibly trigger a retest of the 0.5 Fibonacci level around $1.91.
While investors continue to flock to buy a new project called Solaxy (SOLX), a YouTube channel with over 725K subscribers, 99Bitcoins, suggests the crypto could explode 100X post-launch.
Solaxy Presale Breaks $32.4 Million - Could This Be the Next Big Crypto?
Looking to stand out in a crowded cryptocurrency space, Solaxy, a new project in the presale phase, aims to minimize Solana's congestion issues by implementing off-chain processing mechanisms similar to Ethereum's layer-2 solutions.
By transferring transactions off Solana's main chain, bundling them together, and submitting the fractions to the mainnet for verification, Solaxy's architecture improves efficiency.
With over $32.4 million already poured into the project's explosive presale, investors are clearly backing the concept.
“The Solaxy Era Begins!” proclaimed the Solaxy Twitter account on April 19, 2025.
Besides its efficiency boost, Solaxy offers a unique blend of the benefits of Ethereum's liquidity and growing decentralized finance ecosystem with Solana's speed, connecting the two most influential blockchains in the Web3 realm.
Those interested in participating in the presale can head to Solaxy's official website to purchase SOLX tokens for $0.00171 each using BNB, ETH, USDT, or a bank card.
Solaxy's presale staking program also rewards token holders with a whopping 124% Annual Percentage Yield (APY). Investors wanting to secure the best token price will want to act swiftly, as the price is expected to increase in about 31 hours from now.
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- The ongoing unfolding of the XRP token price breakout, with its potential bullish implications, is a significant event in the finance and business sector, thanks to advancements in technology.
- Interestingly, the average investor might find it advantageous to keep tabs on both XRP and Dogecoin, given the SEC's recent decision to delay decisions on their ETFs, as these events could impact finance and business in the future.
- As technology continues to play a pivotal role in shaping the finance and investing landscape, it's crucial to stay informed about emerging projects like Solaxy (SOLX), which are aiming to address issues in existing cryptocurrency systems and could potentially offer groundbreaking growth opportunities.
- With XRP's recent technical developments, average investors might find it worthwhile to consider it as part of a diversified portfolio, given its potential for significant growth, as per some analysts, thanks to the progress of technology in the finance and business sectors.
