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The XRP price climbed over 2% in the last 24 hours to trade at $2.04 as of 5:27 a.m. EST, with trading volume plunging 27% to $4.4 billion.
This comes after the leading US crypto exchange, Coinbase, filed with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple’s XRP token.
We're excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify $XRP futures – bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets.
We anticipate the contract going live on April 21, 2025.
Stay tuned… pic.twitter.com/nKUPjjnMKW
— Coinbase Institutional 🛡️ (@CoinbaseInsto) April 3, 2025
XRP Price Breakout Potential Amid Consolidation
The XRP price has been trading within a falling wedge pattern, a formation that often signals a potential bullish breakout.
The Ripple token price recently attempted to break above resistance but experienced a fake out, failing to sustain upward momentum. Now, XRP is testing a possible breakout zone once again, indicating another attempt at upward movement.
The key resistance level to watch is around $2.32, which is the 200 Simple Moving Average (SMA) on the 4-hour chart. This level aligns with previous rejection points, according to GeckoTerminal data.
A successful breakout above this level could confirm a trend reversal. On the downside, the support level near $2.00 has held multiple times, reinforcing its strength.
The 50 SMA ($2.14) is still below the 200 SMA ($2.32), indicating that the overall trend remains bearish.
The Relative Strength Index (RSI) is currently at 49.77, which is neutral. This suggests that XRP has room to move in either direction without being overbought or oversold.
XRP Price Prediction
If the XRP price breaks above the wedge resistance and holds above $2.32, it could rally toward $2.50 – $2.70 in the short term.
However, failure to sustain a breakout may lead to another retest of the $2.00 support level before another attempt to move higher.
Meanwhile, investors are buying a new Solana token called Solaxy (SOLX), which 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says might soar 10x after launch.
Solaxy Presale Closes On $30 Million
Solaxy, a new layer-2 scaling solution for Solana, has raised more than $29.1 million in its presale.
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 then submitting them to the mainnet for final verification, Solaxy’s system enhances efficiency.
🚨 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
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.
Solaxy also offers token holders who stake SOLX a huge annual yield of 140%
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001684 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in 36 hours to lock in the best deal.
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