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The XRP Army price surged 13% in the last 24 hours to trade at $0.0898 as of 06:29 a.m. EST on trading volume that plunged 22% to $119K.
With the recent pump in the ARMY price, the crypto has emerged as the top meme gainer on CoinGecko.
XRP Army On A Sustained Rally
Initially, the ARMY price experienced a period of consolidation followed by a rounded bottom formation, indicating a shift from bearish to bullish sentiment. This pattern is typically seen as a reversal signal, culminating in a breakout. Following the breakout above the rounded bottom neckline (highlighted in yellow), the XRP Army price surged to a high of $0.12 through a parabolic curve but has since retraced to $0.0898.
ARMY now trades well above both the 50-period and 200-period Simple Moving Averages (SMAs), confirming the sustained bullish momentum.
The Relative Strength Index (RSI) is currently at 57.26, suggesting the price of ARMY is in a neutral to slightly bullish zone. This is after is dropped from overbought levels around 63, implying that the market has cooled off following the recent rally. The current RSI reading suggests there is potential for further gains if buying pressure resumes.
Meanwhile, the Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), suggesting bullish momentum. However, the histogram shows declining positive bars, indicating waning momentum. This could suggest that the current pullback might continue until a strong support level is reached.
ARMY/USDT Chart Analysis (Source: Tradingview)
ARMY Aims For A Trend Continuation
Given the overall structure and indicator analysis, if bullish momentum resumes, the next major resistance is the recent high at $0.12. A break above this level could see the XRP Army price target $0.14 or higher in the short term.
Conversely, the immediate support levels to watch are the 200-preiod SMA at $0.0733 and the breakout level near $0.08. A successful retest of these levels could pave the way for another leg up.
As investors pile into the XRP Army token, they are also snapping up the new Solana rival Solaxy (SOLX), which 99Bitcoins, a popular crypto channel on YouTube with over 719K subscribers, says might soar 100x after launch.
Solaxy Layer 2 ICO Hits $10 Million – Best Crypto To Buy Now?
Solana stood out as a strong performer in 2024 with no major price drops, but its ongoing issue of network congestion remains a barrier to higher gains.
Solaxy offers a potential fix for Solana’s congestion through its layer-2 technology. The project’s ongoing ICO has already raised over $10 million, as investors aim to profit from the momentum building up behind SOLX amid rumors it may secure top-tier exchange listings.
The project aims to resolve key issues within the Solana ecosystem, such as network congestion, failed transactions, and scalability limitations, while simultaneously leveraging Ethereum’s strengths.
🚨 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
Solaxy promises smooth, fast, and inexpensive transactions with zero failures by combining Solana’s speed and cost-effectiveness with Ethereum’s robust ecosystem.
By buying and holding SOLX, users can also earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 349%.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens at the current price of $0.0016 each using BNB, ETH, USDT, or a bank card.
Buy SOLX here before a price hike in less than 2 days to secure the best deal.
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