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The XRP price soared over 12% in the last 24 hours to trade at $3.12 as of 6:20 a.m. EST as investors go long on the crypto.
The surge in the XRP price comes after Ripple Labs CEO Brad Garlinhouse advocated for a multi-crypto strategic reserve in the US instead of a strategic Bitcoin reserve that is focused solely on the king of cryptos.
Some thoughts on maximalism… let me say this as clearly as I can – the crypto industry has a real shot, here and now, to achieve the many goals we have in common, IF we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.
• I own…
— Brad Garlinghouse (@bgarlinghouse) January 27, 2025
“The crypto industry has a real shot” to “achieve the “many goals” that industry leaders and the community have in common,” he said in a Jan. 27 X post. This opportunity, according to Garlinghouse, could be taken advantage of through a multi-crypto reserve that is “representative of the industry, not just one token.”
XRP Price Could Breakout To The Upside Soon
4-hour chart for XRP/USD (Source: GeckoTerminal)
An ascending triangle pattern has formed on the 4-hour chart for XRP. This specific pattern is considered to be a bullish formation, which could be a precursor to a breakout towards the upside. The base of the pattern is the resistance level at $3.1777. A 4-hour candle close above this threshold within the next 12 hours could catapult XRP to as high as $3.3876.
On the other hand, the pattern being invalidated due to the XRP price getting rejected by the $3.1777 resistance level might result in a pullback to the immediate support at $2.9006. In an extremely bearish scenario, the altcoin’s value could even plunge to the next support at around $2.6991.
Technicals Suggest The XRP Price Will Keep Climbing
From a technical standpoint, there are indicators on XRP’s 4-hour chart that suggest the crypto’s price might keep climbing through the course of the next 24 hours. The Relative Strength Index (RSI) is flashing bullish while a major technical flag that favors buyers was recently triggered by the Moving Average Convergence Divergence (MACD).
In the last couple of hours, the RSI has managed to break above the neutral 50 benchmark. This suggests that bulls have started to take control of the XRP price. Additionally, the positive slope of the RSI line on the 4-hour chart could be seen as an indication that buyers are still accumulating strength against sellers.
The MACD line also crossed above the MACD Signal line, a technical event that is often interpreted as an indication that an asset’s momentum has shifted from bearish to bullish. As the gap between the two MACD lines now starts to grow, it appears XRP’s bullish momentum is beginning to pick up steam as well.
All of the technical signs presented by the MACD and the RSI on the 4-hour chart point to a continued increase in the XRP price. If traders react positively to these signals, the XRP price might soon flip the $3.1777 resistance level into support and begin to surge.
As the XRP price gears up for a potential rally, investors are also rushing to buy Solana layer 2 presale token Solaxy (SOLX). According to prominent crypto analyst and YouTuber Austin Hilton, who has over 314K subscribers, the SOLX ICO presents a “major opportunity” for investors.
Elevating Solana To The Next Level
Solaxy is the first layer-2 scaling project focused on the Solana network. With the recent hype around meme coins and developers favoring Solana due to its high speeds and low fees, the mainnet’s infrastructure faces the ultimate test. As more meme coins enter the market on a daily basis, Solana stands the risk of another outage.
Solaxy, with its additional computing power, will run in parallel to the Solana layer-1 network and take over some of the transaction processing workload from the main chain. This will not only reduce the stress meme coins place on the Solana network, but will also unlock even greater speeds while simultaneously slashing network fees.
After rolling out its scaling technologies, Solaxy will then move on to bridge the Solana and Ethereum networks to combine the prior’s cost efficiency and lightning-quick speeds with the latter’s robust security framework and flourishing DeFi ecosystem.
This will create a super infrastructure that can meet the growing demands of decentralized application and meme coin developers.Solaxy will then be perfectly positioned to serve as a transactional layer between two of the most prominent networks currently in the Web3 space.
Solaxy Presale Races Towards $16 Million
Solaxy’s presale is pulling investors in at a rapid pace, with its total raise already standing at more than $15.7 million.
One of the reasons behind this buying frenzy, other than the bullish predictions by experts such as Austin Hilton and the project’s mission to scale Solana, could be the attractive staking program on offer to ICO buyers.
Anyone who purchases and stakes SOLX at this early stage will unlock a 253% annual return. Buy before a price hike in less than 2 days to lock in the best price.
Buy SOLX on its official website here using either crypto or bank card.
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