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The XRP price dropped 2% in the last 24 hours to trade at $2.07 as of 4:59 a.m. EST on trading volume that plunged 27% to $1.9 billion.
This comes as prime brokerage Hidden Road, which was acquired by Ripple recently for $1.25 billion, secured a broker-dealer licence from the Financial Industry Regulatory Authority (FINRA).
BREAKING: Hidden Road, recently acquired by @Ripple, gains FINRA approval to operate as a broker-dealer.
Hidden Road can now provide Institutional clients with a suite of compliant prime brokerage, clearing, and financing services in fixed income assets. $RLUSD $XRP pic.twitter.com/2qfGZ91AzV
— King Solomon (@IOV_OWL) April 17, 2025
The move is seen as one that will enhance the firm’s capacity in the fixed-income markets.
Ripple Token Price On A Bearish Trend – Possible Reversal?
The XRP price chart shows a descending triangle pattern, which is seen as a bearish continuation pattern.
The triangle had a well-defined horizontal base around the $2.00 level and a series of lower highs forming the downward-sloping upper boundary, according to GeckoTerminal.
Meanwhile, the 50-day Simple Moving Average (SMA), currently at $2.2316, still acts as a key resistance zone, reinforcing the Ripple token price bearish trend.
The 200-day SMA, at $1.9257, is trending below the price of XRP, reinforcing support and signaling a longer-term bullish outlook as the price stays above both key SMAS.
The Relative Strength Index (RSI) is sitting at 46.85, still below the midline of 50 but gradually moving upward. This reflects recovering bullish momentum, but does not yet place XRP in overbought territory, leaving room for further upside without immediate risk of a pullback due to RSI exhaustion.
Moreover, the Moving Average Convergence Divergence (MACD) shows a subtle bullish crossover, with the MACD line (blue) now slightly above the signal line (orange), and histogram bars turning green. Though still modest in strength, the crossover supports the breakout as momentum begins to build from previously bearish conditions.
XRP Price Prediction
Following the confirmed breakout from the descending triangle, the XRP price is technically poised for a move toward the $2.75–$2.80 zone, aligning with the measured move target of approximately 35.9% from the breakout point.
The rising MACD, strengthening RSI, and bullish positioning above both the 50-day and 200-day moving averages support the bullish scenario.
Conversely, a failure to hold above the breakout zone could see a retest of support near $1.90–$2.00, where the 200-day SMA and horizontal base of the triangle converge.
Further downward pressure could push the price of the Ripple token to $1.75, acting as a cushion against downward pressure.
Meanwhile, investors are flocking to buy a new Solana project called Solaxy (SOLX). Popular YouTube channel 99Bitcoins, with over 725K subscribers, says the crypto has the potential to soar 100X post-launch.
Solaxy Presale Closes On $31 Million – Next Big Crypto?
Solaxy, a new crypto project in its presale phase, is positioning itself to save and upgrade the Solana ecosystem amid congestion issues.
The project aims to address those issues by implementing off-chain processing mechanisms similar to Ethereum’s layer-2 solutions. Platforms like Arbitrum and Optimism have already proven this model successful.
By processing transactions off of Solana’s main chain, bundling them together, and submitting them to the mainnet for final verification, Solaxy’s system enhances efficiency.
Investors are flocking to back the idea, pouring over $30.5 million into its blockbuster presale.
🚨 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
Once launched, Solaxy will also provide a platform where developers can build decentralized applications or launch new tokens without compromising Solana’s layer-1 capabilities.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001698 each using BNB, ETH, USDT, or a bank card.
Solaxy also offers holders who stake SOLX a huge annual yield of 133%.
Interested investors will want to buy SOLX before the next presale price hike in less than 31 hours.
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