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The XRP price rose more than 1% in the last 24 hours to trade at $2.09 as of 3:50 a.m. EST, with trading volume rising 33% to $3.7 billion.
This comes after Ripple minted $50 million RLUSD on Ethereum, which comprises 25% of the total supply, in one go.
50,000,000 $RLUSD minted on Ethereum.
That's 25% of the total supply currently in one go.
Hope to see the XRP Ledgers getting this demand for RLUSD too. https://t.co/w7NHTms2Pn
— Vet (@Vet_X0) March 31, 2025
Ripple Token Price Aims For A Breakout
The XRP price on the 4-hour timeframe showcases a well-defined falling wedge pattern, a structure that generally indicates a potential bullish breakout.
The Ripple token price attempted to break above the wedge earlier, which resulted in a fake out, as indicated on the chart, according to GeckoTerminal data. This false breakout likely led to trapped buyers, contributing to the recent downtrend.
Currently, XRP is trading near the lower support of the wedge, around $2.09, with repeated tests of this level suggesting strong support.
A potential breakdown could occur if the price fails to hold this support. However, the falling wedge could still lead to a bullish reversal if buyers step in and reclaim momentum.
The 50 Simple Moving Average (SMA) on the 4-hour chart at $2.27 and the 200 SMA at $2.32 are both positioned above the current price.
This confirms a bearish short-term trend, as the price of XRP is trading below both key moving averages.
The Relative Strength Index (RSI) is currently at 36.54, indicating that the market is near the oversold region, which suggests selling pressure.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows signs of a bullish trend as the blue MACD line crosses above the orange signal line.
XRP/USD chart analysis (Source: TradingView)
XRP Price Prediction
XRP’s price action suggests two potential scenarios based on the falling wedge formation.
If the support level around $2.09 holds and the price breaks out of the wedge, a rally toward $2.27 (50 SMA) and then $2.32 (200 SMA) is likely. A decisive move above $2.32 could trigger further bullish momentum, targeting $2.50 or higher.
The RSI and MACD suggest that sellers are losing strength, but a clear bullish confirmation is needed before assuming an upward move
However, if the Ripple token price fails to maintain support at $2.09, a breakdown could send XRP toward $2.00 or lower, potentially retesting previous lows before any recovery attempt.
Meanwhile, investors are buying a new Solana meme coin called Solaxy (SOLX), which 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says might soar 10x after launch.
Solaxy Presale Closing On The $29 Million Mark
Solaxy, a new crypto project in its presale phase, is positioning itself as the next evolution of the Solana ecosystem.
The project aims to address Solana’s network congestion issues by implementing off-chain processing mechanisms similar to Ethereum’s layer-2 solutions. This model has already been proven as a successful way to scale a blockchain through platforms like Arbitrum and Optimism.
By processing transactions off of Solana’s main chain, bundling them together, and submitting them to the mainnet for final verification, Solaxy’s system enhances efficiency.
Investors are backing this idea, having already poured over $28.7 million in its blockbuster presale.
🚨 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
This approach directly addresses one of Solana’s biggest challenges: network congestion.
Once launched, Solaxy will also provide a platform where developers can build decentralized applications or launch new tokens without compromising Solana’s layer-1 capabilities.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.00168 each using BNB, ETH, USDT, or a bank card.
Solaxy also offers holders who stake SOLX a huge annual yield of 142%.
Interested investors will want to buy SOLX before the next presale price hike in less than 9 hours to secure the best deal.
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