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The XRP price dropped 1% in the past 24 hours, trading at $2.29 as of 3:24 a.m. EST, with a 5% rise in trading volume to $4.7 billion.
This comes as Federal Reserve Chair Jerome Powell said that the central bank needs more time to see if rising tariffs drive inflation higher before considering lowering rates.
“Increases in tariffs this year are likely to push up prices and weigh on economic activity,” Powell said. According to Powell, “Inflation and high prices were another important concern cited by consumers in June.”
Powell continues to warn of rising inflation risks, as Trump pushes for rate cuts.
XRP Price Gears Up Towards A Breakout Over A Wedge
The XRP price on the 3-day timeframe presents a compelling technical setup. Ripple token price action has formed a falling wedge pattern, marked by converging downward-sloping trendlines.
This is a bullish reversal pattern that typically signifies weakening selling pressure and the potential for a breakout to the upside.
The falling wedge spans from the early part of 2025, after the peak near $3.40, and is now approaching its apex, indicating an imminent resolution, as GeckoTerminal data shows.
Throughout the wedge, XRP has respected the support zone near the $2.00 level, with several bounces along this horizontal base.
The wedge resistance has consistently limited rallies but is narrowing, indicating a potential breakout soon.
Additionally, the Fibonacci retracement levels highlight how XRP has hovered between the 0.382 level ($2.2957) and the 0.5 level ($1.9531). These levels often serve as strong support in bullish retracements.
Meanwhile, the 50 Simple Moving Average (SMA) is currently at $2.2978, marginally above the current price of XRP of $2.1755, acting as dynamic resistance. XRP is trading just below it, indicating some pressure, but a breakout above this level could reinforce bullish momentum.
The 200 SMA lies well below at $1.2140, reflecting that the overall bullish trend remains intact despite recent consolidation.
Moreover, the Relative Strength Index (RSI) stands at 47.71, suggesting neutral momentum. It is neither in overbought nor oversold territory, providing room for a potential upward move.
Ripple Token Price Prediction
Given the convergence of bullish signals, particularly the falling wedge nearing completion, the RSI near neutral with no bearish divergence, and the price holding strong above the 0.5 Fibonacci level, the technical outlook favors an upside breakout in the near term.
A confirmed breakout above the upper wedge trendline and the 50 SMA could trigger a rally toward the 0.236 Fibonacci level at $2.7196, followed by a potential retest of the $3.40 high.
On the downside, if XRP fails to hold above the $2.00 support zone, it may revisit lower Fibonacci levels as $1.95 or $1.61.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO called Snorter Token (SNORT). According to 99Bitcoins, a popular YouTube channel with over 723K subscribers, SNORT could soar 10X on launch.
Snorter Token Presale Rushes Past $1.2 Million – Next 10X Crypto?
Snorter, a new Solana-based meme trading bot powered by Telegram, has made a notable entrance into the cryptocurrency scene. In just a few days of its presale going live, the project has raised over $1.25 million.
The project blends lightning-fast swaps and low fees with a meme coin twist. Thus, it brings a fresh take to a space often dominated by complexity.
Unlike browser-based tools, Snorter runs directly within Telegram, enabling users to perform sub-second swaps, automate sniping, and track portfolios in real-time.
The bot is entering a space where most users currently favor Trojan and BonkBot, two bots that have gained prominence on the Solana blockchain for their affordable fees and secure transactions.
Went outside. Touched grass. Immediately hated it. Back to the chaos. pic.twitter.com/XgGz1f7cCE
— Snorter (@SnorterToken) May 19, 2025
Snorter Bot also beats the competition in terms of fees. By simply holding the SNORT token, traders reduce their execution fees from 1.5% to 0.85%, undercutting other Telegram bots.
In addition to its trading features, staking rewards currently sit at 263%, which decreases as more investors join the ICO.
The presale is now live, and the token is selling at $0.0961. Tokens can be bought with SOL, ETH, BNB, or bank card, and staked directly on the official site.
Interested investors will want to buy before the next presale price hike in approximately 2 hours.
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