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The XRP price has plunged 4% in the last 24 hours to trade at $2.06 as of 6:50 a.m. EST on a 10% surge in trading volume to $3.66 billion.
And there may be worse to come if a prediction by analyst Peter Brandt is proven right. Brandt said in a post on X that the Ripple token may plunge about 47% to $1.07, mirroring the downturn seen in November 2024.
Brandt based that analysis on a head-and-shoulders top pattern on XRP’s chart that suggests further downside risk.
Don't shoot the messenger.
Your favorite Beanie Baby/Pet Rock crypto displays a classic complex H&S top. This could become bullish if 3.0 is exceeded, otherwise the implications is a decline to 1.07. If you have an issue with this, take it up with Magee and Edwards $XRP pic.twitter.com/nHaIgn8uP4— Peter Brandt (@PeterLBrandt) March 28, 2025
A long-time critic of XRP, Brandt recently likened the token to a “pet rock.” However, despite his bearish outlook, he noted that a breakout above $3 could shift the market sentiment to a bullish trend.
XRP Price Signals A Potential Rebound On Support Zone
The XRP/USDT chart on the 1-day timeframe (Binance) shows a current price of $2.0619, reflecting a 3.51% decline for the day. The price opened at $2.1371, reached a high of $2.1410, and dropped to a low of $2.0238.
A support zone is identified around $1.90 – $2.10, where the price has historically rebounded. Meanwhile, the resistance level is near $3.50, aligning with the upper boundary of a previous rally. The chart suggests a potential rebound from the support zone, while failure to hold could lead to further downside, possibly toward $1.50 or even lower levels.
XRPUSDT Analysis Source: Tradingview
A descending channel (yellow) has contained price action since February, and a breakout above this channel could initiate a rally toward $3.00+. The Relative Strength Index (RSI) is at 37.49, approaching oversold conditions, while the signal line sits at 47.49.
This indicates selling momentum is slowing down, increasing the likelihood of a bullish reversal if buying pressure picks up. If XRP holds above the $2.00 level, an upside toward $2.50 may follow, with further gains targeting $3.00 and beyond.
Conversely, a break below $1.90 could accelerate selling pressure, potentially triggering a decline toward the $1.50 zone or sell-side liquidity levels near $0.50. Watching the $2.00 level is crucial for determining the next move. A rebound could spark a rally, while a breakdown may lead to deeper losses.
Solaxy (SOLX) Presale Closes On $29 Million – Best Crypto To Buy Now?
As XRP continues to dump, investors are piling into Solaxy (SOLX), the first layer 2 scaling solution on Solana, which has already surpassed $28.6 million in its presale.
Crypto analyst and YouTuber Alessandro De Crypto, who has over 14.7K subscribers, says that SOLX could surge 100x post-launch, making it one of the biggest presales within the Solana ecosystem.
Solaxy is working to solve Solana’s network congestion, a growing issue due to the surge in SOL-based meme coins. As transaction volumes increase, network slowdowns and higher fees have become a concern.
To tackle this, Solaxy introduces rollups, an advanced scaling solution that processes thousands of transactions off-chain before finalizing them on Solana. This significantly reduces network strain, speeds up transactions, and improves efficiency.
With this approach, users experience faster and cheaper transactions while the Solana blockchain remains scalable.
Beyond solving congestion, Solaxy makes it easier for developers to build and launch applications by providing user-friendly tools and an intuitive interface.
This allows seamless app deployment without the complexities of blockchain coding. Additionally, Solaxy is working to bridge Ethereum and Solana, enabling cross-chain compatibility and expanding the Web3 ecosystem.
🚨 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 also offers a staking program with a massive 143% annual return for investors looking to earn passive income. The platform has already attracted over 8 billion staked tokens.
At the moment, SOLX is priced at $0.00168 and can be purchased using cryptocurrency or a bank card.
Buy before a price hike in a little more than 1 day to lock in the best deal.
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