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The XRP price dropped 2% in the past 24 hours to trade at $2.1972 as of 4:58 a.m. EST, with a 17% plunge in trading volume to $1.7 billion.
The drop comes despite Coinbase adding two new wrapped tokens to its Base network, which now expands its lineup of ERC-20 assets with cbDOGE and cbXRP.
cbDOGE and cbXRP are now live on @base. cbDOGE and cbXRP are ERC-20 tokens backed 1:1 by DOGE and XRP held in custody by Coinbase.
Here’s what you need to know ↓ pic.twitter.com/QVrqa96ZZB
— Coinbase Assets 🛡️ (@CoinbaseAssets) June 4, 2025
XRP Price Consolidating Within A Falling Wedge, Could Break Out
The XRP price has been in a continued downward trend, with lower highs and lower lows forming a falling wedge pattern, which typically leads to a breakout.
The harmonic ABCD pattern shows that the Ripple token is now attempting a breakout above the upper boundary of the falling wedge, which could prompt a bullish rally.
XRP recently underwent a slight correction from the 0.382 Fibonacci level at $2.27, which led to the price dropping below both the 50-day and 200-day Simple Moving Averages (SMAs), as GeckoTerminal data shows.
Meanwhile, the Relative Strength Index (RSI) is currently around the neutral zone at 43, which shows that the XRP price is still not under pressure from either the bulls or bears.
If the bulls pick up momentum at this level, the Ripple token price could rise above the 0.236 Fib level at $2.69.
Conversely, if the bears take control of the asset at this level, the price of XRP could plummet to the 0.5 Fibonacci level at $1.93.
Meanwhile, investors are flocking to a new Solana project called Solaxy (SOLX), which has just announced that its parabolic presale will conclude in approximately 11 days, with listings to follow shortly thereafter.
Popular YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 100X post-launch.
Solaxy Presale Rushing Towards The $50 Million Mark – 11 Days Left To Buy
As Solaxy’s presale races toward its final countdown, raising over $44.3 million with just days remaining, the crypto world is watching closely to see whether SOLX can live up to the hype.
Promising to become Solana’s first dedicated layer-2 chain, Solaxy positions itself at the intersection of scalability, meme coin virality, and multi-chain functionality.
The project has garnered over $2 million in the last week alone, and with 11 days left, Solaxy could collect about $50 million in its early funding.
The Solaxy universe is expanding every day. 🪐🛸
44M Raised! 🔥 pic.twitter.com/yIRZinZAPR
— SOLAXY (@SOLAXYTOKEN) June 4, 2025
While Solana handles thousands of transactions per second, its performance drops during network congestion. Solaxy addresses this by applying a model proven by Ethereum’s layer-2 projects like Arbitrum and Optimism.
The team recently launched its testnet, blockchain explorer, and cross-chain bridge, which allows users to simulate bridging ETH or SOL into the Solaxy ecosystem.
SOLX tokens are currently priced at $0.001746 and can be purchased using BNB, ETH, USDT, or card through the simple buy widget on the project’s website.
Investors can also earn a lucrative passive income with the 91% staking APY on offer to presale buyers.
The SOLX token will launch on major exchanges in just 11 days, so interested investors should consider buying now before the opportunity passes.
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