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The XRP price has tumbled 11% in the last 24 hours to trade at $2.20 as of $3:30 a.m. EST on a 178% pump in trading volume to $10.2 billion.
XRP Price Holds On Key Support – Is A Rally On The Horizon?
Over the past few weeks, the Ripple token price has been trading within a descending triangle. This is a bearish technical pattern often leading to a breakdown. However, the price has shown resilience by holding onto a strong support zone between $1.90 and $2.00, an area that has historically acted as a demand level where buyers step in.
The resistance level around $3.00 marks a critical area where previous price rallies have faced rejection. A successful breakout above this level could confirm a bullish continuation. The LuxAlgo trendlines show possible breakout levels at $3.0007 (bullish) and $1.8973 (bearish), suggesting that XRP is currently at a decision point where price action will determine the next major move.
XRPUSD Analysis Source: Tradingview
The Relative Strength Index (RSI) is at 33.22, placing XRP in the oversold territory, often preceding a price reversal. The signal line at 47.17 indicates that while momentum is currently weak, a shift in buying pressure could trigger a recovery. However, if selling pressure continues and the $1.90 support level is breached, XRP could decline further, potentially testing $1.50 as the next key support.
For bullish confirmation, traders should watch for a breakout above the descending trendline and a price movement above $2.50 – $3.00 with strong volume. A close above this range would indicate a rally towards higher price levels, possibly targeting $3.50 – $4.00. If XRP fails to hold the $1.90 support zone, the next major support lies near $1.50, which could trigger further downside movement.
Solaxy Presale Heads Toward $24 Million – Best Crypto To Buy Now?
As the XRP price finds its footing, investors are flocking to the presale for Solaxy (SOLX) as it charges towards the $24 million mark. With Solana’s native SOL token experiencing a price dip, traders are looking for new opportunities, and Solaxy appears to be a promising bet.
The project’s innovative approach to scaling and strong investor interest positions Solaxy as a major player in Solana’s ecosystem. The growing popularity of meme coin trading on Solana’s Pump.fun platform has led to increased network congestion, especially after the launch of the TRUMP and MELANIA meme coins.
Solaxy aims to address these issues by introducing a Layer 2 sidechain that processes transactions off-chain before bundling them and submitting them back to Solana’s Layer 1. Solaxy’s blockchain is designed to reduce congestion, lower fees, and enhance transaction efficiency.
You'll start feeling the vibes when you enter Solaxy 🪐🛸 pic.twitter.com/jORMaqOjs2
— SOLAXY Help Team 𝕏 (@SOLAXYTOKEN_HT) February 16, 2025
An analyst from the 99Bitcoins YouTube Channel, which has over 726k subscribers, predicts that the SOLX token could see 10x gains post-launch due to strong demand and lucrative staking rewards.
Investors can gain access to a 173% APY by staking SOLX, with more than 6.6 billion tokens already locked up.
SOLX is priced at $0.001646 and is available for purchase using ETH, USDT, BNB, or SOL. However, investors have just over 31 hours to buy at this price before the next scheduled presale increase.
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