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The XRP price dropped over 2% in the last 24 hours to trade at $2.22 as of 3:30 a.m. EST on trading volume that fell 33% to $2.4 billion.
This comes as the US Securities and Exchange Commission (SEC) delayed approval decisions on sport XRP (XRP) and Dogecoin (DOGE) exchange-traded funds (ETFs) late Tuesday.
The SEC said it will wait until June 15 for the next steps for the Bitwise DOGE ETF and June 17 for the Franklin XRP fund.
Ripple Token Price Breakout Signals A Bullish Uptrend
The XRP price daily chart reveals a crucial technical pattern currently unfolding.
XRP action has been consolidating within a descending triangle, a pattern traditionally considered bearish.
However, the Ripple token price has recently broken above the upper boundary of the triangle, suggesting a potential trend reversal or bullish breakout.
This breakout is supported by a clear upward momentum after bouncing from a strong support base near the $2.00 mark, according to data from GeckoTerminal.
Further adding to this bullish narrative is the structure labeled A-B-C-D, which resembles a bullish harmonic pattern or simply a textbook example of price compression leading to a breakout.
The breakout occurs near point D, indicating renewed buying pressure. The XRP price has also reclaimed the 0.382 Fibonacci retracement level ($2.2472), further validating the breakout strength. This level is now acting as support, with XRP currently trading just above it.
Moreover, the 50-day Simple Moving Average (SMA) at $2.1942 is currently acting as short-term support, and XRP is trading above both the 50-day and the 200-day SMA ($2.0097), indicating a bullish alignment.
With regards to the Relative Strength Index (RSI), the current value is 53.81, suggesting neutral-to-bullish strength. This means the RSI is not in overbought territory, and suggests there is still room for upward movement before the market becomes overheated.
The MACD (Moving Average Convergence Divergence) indicator also shows bullish potential. The MACD line (blue) is slightly above the signal line (orange), and both are above the zero line, suggesting positive momentum the is gradually building up.
Ripple Token Price Prediction
Based on the breakout from the descending triangle and supporting indicators, the measured move for the XRP price is projected toward $3.32, which represents a 48.16% gain from the breakout point.
This target aligns with the top of the previous swing high, making it a logical resistance area and the next bullish target. The Fibonacci level at 0.236 ($2.6577) could act as a minor resistance before the price pushes toward the full measured move target.
As long as the Ripple Token price remains above the 50-day and 200-day SMAs, and holds the $2.20–$2.25 support zone, the bullish scenario remains intact.
However, if the breakout fails and the Ripple Token price drops below $2.00, it would invalidate the bullish pattern and potentially lead to a retest of the 0.5 Fibonacci level around $1.91.
Meanwhile, investors are flocking to buy a new Solana project called Solaxy (SOLX). Popular YouTube channel 99Bitcoins, with over 725K subscribers, says the crypto has the potential to soar 100X post-launch.
Solaxy Presale Blasts Past $32.4 Million – Next Big Crypto?
Solaxy, a new crypto project in its presale phase, is positioning itself to save and upgrade the Solana ecosystem amid congestion issues.
The project aims to address those issues by implementing off-chain processing mechanisms similar to Ethereum’s layer-2 solutions. Platforms like Arbitrum and Optimism have already proven this model successful.
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 already backing the idea, and have poured over $32.4 million into the project’s blockbuster presale.
🔥 The Solaxy Era Begins 🔥
The Solaxy TestNet Block Explorer is now live! This is the first step in bringing about $SOLX domination. 🛸🪐
Check it out for yourself below 👇https://t.co/VWq2cscsrK pic.twitter.com/8rIQfOHAwb
— SOLAXY (@SOLAXYTOKEN) April 19, 2025
Another massive utility of Solaxy is that it offers the best of both Ethereum and Solana. This is because SOLX merges the benefits of Ethereum’s liquidity and growing decentralized finance ecosystem with Solana’s efficiency and speed, connecting the two most prominent blockchains in the Web3 space.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.00171 each using BNB, ETH, USDT, or a bank card.
The project’s presale staking program also offers token holders a huge 124% APY. Anyone looking to buy SOLX at the best rate will want to hurry, because the token’s price will increase in around 31 hours.
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