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The XRP price dropped over 1% in the last 24 hours to trade at $2.42 as of 2:36 a.m. EST, with trading volume plunging 7% to $2.5 billion.
This comes after Ripple CEO Brad Garlinghouse expressed optimism about the changing landscape of the US crypto market. According to Garlinghouse, the US is “finally unlocked” following the US Securities and Exchange Commission’s (SEC) decision to drop its appeal against Ripple.
Ripple CEO Brad Garlinghouse
The dismissal of the SEC case allows us to unlock the US Market Expansion. 🏁🇺🇸 pic.twitter.com/nETolPlWVy
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) March 24, 2025
XRP Price Shows Breakout Potential From Falling Channel
The XRP price has experienced a significant bullish rally, marked by a strong upward price movement around November 2024.
This upward surge accompanied a breakout above key resistance levels, pushing the Ripple token price to new highs. However, after reaching a peak, the price of XRP has since been in a falling channel pattern characterized by lower highs and lower lows.
The current chart shows that XRP is approaching a critical resistance level at the upper boundary of the falling channel. A breakout from this channel could signal the end of the corrective phase and the beginning of a new bullish trend.
Meanwhile, the 50-day Simple Moving Average (SMA) is currently $2.4276, while the 200-day SMA sits at $1.7445, according to GeckoTerminal data.
XRP remains above the 200-day SMA, suggesting that the price of the Ripple token is still in a long-term uptrend. However, the 50-day SMA acts as dynamic resistance, meaning a breakout above this level would further confirm a bullish reversal.
If the price of XRP successfully holds above the 50-day SMA after breaking out of the channel, it could be a strong foundation for upward continuation.
Moreover, the Relative Strength Index (RSI) is currently at 51.18, placing it in neutral territory. This suggests that XRP is neither overbought nor oversold, providing room for upward movement.
The blue Moving Average Convergence Divergence (MACD) line is slightly above the orange signal line, with the histogram displaying minimal bearish momentum. This suggests that bearish pressure is waning, and the market could be on the verge of a bullish crossover
Ripple Token Price Prediction
Given the current technical setup, the XRP price is at a critical juncture where a decisive breakout could determine the next significant price move.
If the Ripple token price successfully breaks out of the descending channel and holds above $2.50, it could trigger a strong rally toward the $3.00 level.
A sustained bullish trend could even push the price toward $3.50, as indicated by the projection arrow on the chart.
On the other hand, if XRP fails to break above the falling channel pattern, it may continue its downward consolidation, with key support levels around $2.00 and the 200-day SMA at $1.74.
Meanwhile, investors are buying into a new layer-2 Solana meme coin called Solaxy (SOLX). According to 99Bitcoins, a popular crypto YouTube channel with over 725K subscribers, Solaxy has the potential to soar 100X post-launch.
Solaxy Eyes $30 Million In Presale As Investors Bet On Solana’s First Layer-2 Solution
Solaxy continues to steal the spotlight in the crypto market, with a soaring presale that has already garnered over $27.8 million.
The project is launching the first layer-2 solution dedicated to the Solana ecosystem. Solaxy’s goal is to ease network congestion by processing transactions off-chain. After that, they are bundled and finalized on Solana’s main net.
By implementing this strategy, it aims to reduce transaction failure rates and minimize gas fees.
🚨 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
Another massive utility of Solaxy is that it offers the best of both Ethereum and Solana.
SOLX merges the benefits of Ethereum’s liquidity and growing decentralized finance ecosystem with Solana’s efficiency and speed, thereby connecting the two most prominent crypto ecosystems in the Web3 space.
The project’s staking program also offers token holders a huge 146% APY.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001674 each using BNB, ETH, USDT, or a bank card. Buy before a price hike in just over 32 hours to secure the best deal.
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