Join Our Telegram channel to stay up to date on breaking news coverage
The XRP price has soared 8% in the last 24 hours to trade at $2.31 as of 7:00 a.m. EST on a 23% plunge in trading volume to $8.5 billion.
XRP Price Rebounds On Support Zone – Can Bulls Sustain Momentum?
The Ripple token price opened the session at $2.3222, reached a high of $2.3314, and dropped to a low of $2.2634. This decline comes as XRP approaches a critical support zone between $2.00 and $2.30, which has historically acted as a strong demand area, preventing further downside and triggering rallies. If buyers step in at this level, there could be a potential bullish reversal targeting higher resistance levels.
A closer look at the chart structure shows that XRP recently broke out of a descending triangle pattern, which typically signals bearish continuation. However, instead of a major breakdown, the price has found stability at the support zone. The resistance level around $3.50 remains a key barrier for upward movement. If XRP bounces from support, it might rally back toward this level, potentially testing the recent highs from earlier in the year.
The Relative Strength Index (RSI) is currently at 36.83, which suggests that XRP is approaching oversold conditions. The orange signal line at 47.15 indicates that momentum is still weak, but a bullish crossover above 50 could confirm the beginning of an upward trend.
Additionally, price action near this support zone will be crucial; if XRP fails to hold above $2.00, a breakdown could push prices lower toward the next support at $1.91. XRP is at a pivotal moment, and market participants will determine the next major move.
If buyers defend the $2.00 – $2.30 support zone, a bullish breakout could send the price toward $3.50 and beyond. On the other hand, failure to hold this level could result in a deeper correction toward $1.91 or lower. Traders should watch for increased buying volume, RSI movement, and price action near the support zone to confirm the next direction.
Solaxy Presale Heads Toward $24 Million – Best Crypto To Buy Now?
As the XRP price picks up momentum, investors are turning their attention to Solaxy (SOLX), a presale token rapidly closing in on the $24 million milestone. With Solana’s native SOL token experiencing a price dip, traders are hunting for fresh opportunities, and Solaxy is emerging as a top contender.
The project’s innovative scaling solution and strong investor demand position it as a major force in Solana’s ecosystem. Meme coin trading on Pump.fun has flooded the network, leading to congestion, especially after the launch of the TRUMP and MELANIA meme coins.
You'll start feeling the vibes when you enter Solaxy 🪐🛸 pic.twitter.com/jORMaqOjs2
— SOLAXY Help Team 𝕏 (@SOLAXYTOKEN_HT) February 16, 2025
Solaxy aims to fix this by introducing a Layer 2 sidechain that processes transactions off of the main Solana network before bundling them and submitting them back to Solana’s Layer 1 for final validation, significantly reducing congestion, lowering fees, and improving transaction efficiency.
Solaxy is gaining traction, with an analyst from the 99Bitcoins YouTube channel, which has over 726k subscribers, predicting that the token could surge 10x post-launch.
Presale investors can also stake SOLX for an impressive 172% APY, with over 6.6 billion tokens already locked up.
Currently, SOLX is priced at $0.001646 and can be purchased using ETH, USDT, BNB, or SOL. However, investors have less than 8 hours left to buy at this price before the next scheduled presale increase.
Related Articles:
- Citadel Securities CEO Ken Griffin Targets Crypto Market
- Bitcoin, Ethereum, Dogecoin Plunge Amid Meme Coin Crash
- NFT Marketplace OpenSea Announces Eligibility For $SEA Airdrop
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
