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The XRP price dropped over 2% in the last 24 hours to trade at $2.04 as of 4:04 a.m. EST, with trading volume rising 67% to $6.2 billion.
This comes despite Ripple integrating its US dollar-denominated stablecoin, Ripple USD (RLUSD), into its cross-border payment solution, Ripple Payments.
Ripple also announced that RLUSD is now available on the Kraken crypto exchange, which makes it more accessible to retail users.
🟣 BREAKING NEWS 🟣@krakenfx has just enabled trading for $RLUSD, @Ripple’s new stablecoin.
Deposits and withdrawals are now live.
Is traditional liquidity quietly flowing into the XRP ecosystem?This isn’t the future. It’s happening now.#RLUSD #Ripple #XRP #Kraken… pic.twitter.com/HoLHFpi19J
— John Squire (@TheCryptoSquire) April 2, 2025
XRP Price Currently On A Bearish Trend
The XRP price analysis on the 4-hour timeframe exhibits a distinct falling wedge pattern, which is typically considered a bullish reversal structure.
However, the recent Ripple token price movement invalidated the bullish pattern, as XRP trades within the lower boundary of the wedge.
The fake-out occurred when the price of XRP briefly surged above the wedge resistance but quickly retraced, trapping traders who expected a breakout.
The XRP price is trading at $2.0484, struggling to reclaim key support levels, as data from GeckoTerminal shows. A significant move occurred at point D, where price action attempted to retest the upper trendline but was met with selling pressure, leading to a sharp decline.
Meanwhile, the 50-day Simple Moving Average (SMA) at $2.1859 and the 200-day SMA at $2.3223 trade above XRP, which shows that the Ripple token is still in a bearish trend.
The Relative Strength Index (RSI) is currently at 39.72, which suggests that the market is leaning toward oversold conditions but is not yet at extreme levels.
Will Ripple Token Pump Or Dip Below $2?
With XRP breaking below the falling wedge pattern, a bearish continuation could be expected. If selling pressure continues, the price of XRP could drop toward the $2.00 psychological level as immediate support.
If this level fails to hold, the price may decline further toward $1.90 or lower.
On the flip side, if the Ripple token price reclaims the wedge’s lower boundary and moves above the $2.1859 resistance (50-day SMA), a potential recovery toward the $2.32 level (200-day SMA) could be seen.
Meanwhile, investors are buying a new Solana meme coin called Solaxy (SOLX), which popular YouTube channel 99Bitcoins, with over 725K subscribers, says has the potential to soar 100X post-launch.
Solaxy Presale Closing On The $30 Million Milestone
Solaxy is the first Layer-2 meme coin built to enhance Solana’s scalability and tackle network congestion, all while slashing transaction costs.
By optimizing Solana’s infrastructure, Solaxy isn’t just another project, it’s shaping the future of Solana-based crypto launches.
However, its ambitions don’t stop there. Built with cross-chain technology, it merges the best of Solana and Ethereum. Therefore, SOLX is positioned as a powerful asset that stands out from traditional meme coins.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Moreover, once launched, Solaxy will provide a platform where developers can build decentralized applications or launch new tokens without compromising (and possibly even improving) Solana’s Layer-1 capabilities.
Over $28.9 million has already poured into the SOLX presale, signaling strong market demand at this early stage. Solaxy also offers holders who stake the project’s SOLX token a huge annual yield of 141%.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001682 each using BNB, ETH, USDT, or a bank card.
Anyone looking to buy will want to act fast, because the meme coin’s price will increase in less than 9 hours.
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Best Wallet - Diversify Your Crypto Portfolio
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