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The XRP price surged 11% in the last 2 weeks and rose 1% in the past 24 hours to trade at $2.34 as of 5:41 a.m. EST, despite a 2% drop in trading volume to $2.7 billion.
This comes as the US Securities and Exchange Commission (SEC) delayed its decision on Grayscale’s XRP ETF (exchange-traded fund) bid, which analysts had expected.
The SEC stated that it is seeking public comments and is on the verge of beginning proceedings to allow for additional analysis of the proposals and ensure they all meet regulatory standards.
According to Bloomberg ETF analyst James Seyffart, the delay was expected, as the US SEC typically takes the full time to respond to a 19b-4 filing.
DELAYS on Ether ETF staking for @BitwiseInvest and on @Grayscale's XRP ETF filing. (Both expected IMO) pic.twitter.com/zycAqnz6uq
— James Seyffart (@JSeyff) May 20, 2025
XRP Price Remains Bullish Despite A Slight Correction
After breaking out around early May, the XRP price is currently trending outside a falling wedge, a pattern that often leads to a big move.
The Ripple token price hit a high of $2.64 after the breakout before it began correcting. This pullback is healthy, as it’s part of a breakout-and-retest pattern necessary to confirm a bullish trend.
At $2.34, the price of XRP needs to drop a little further to test the upper boundary of the pattern, which is around $2.12, before a potential bounce higher, as GeckoTerminal data shows.
Ripple Token Price Indicators Hint At A 42% Surge
According to the XRP/USD chart analysis on the 1-day timeframe, the Ripple token price is above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a bullish signal.
Meanwhile, the 50-day SMA has finally crossed above the 200-day SMA, forming a golden cross at $2.20, confirming a bullish trend.
At the same time, the Relative Strength Index (RSI) at 51.28 is neutral, so there are no overbought or oversold signals yet. However, the indicator points downward, indicating that selling momentum on XRP may be increasing.
If the price of XRP breaks above $2.64 (the previous high), the next stop could be $3.34, a 42% surge from the current level.
Conversely, if the XRP price cracks below the $2.26 support (which aligns with the 0.382 Fibonacci retracement level), investors might see a drop to $2.12, or worse, $1.9282 (0.5 Fib level).
Meanwhile, investors are flocking to the presale for a new Solana project called Solaxy (SOLX), which has just announced that its blockbuster, $38.5 million presale will end in about 26 days.
Popular YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 10X post-launch.
Solaxy Presale Garners Over $38.5 Million – Last Chance To Buy
Solaxy is the first Solana layer-2 (L2) blockchain, purpose-built for maintaining low-latency transactions, high scalability, and zero downtime, even during peak network congestion.
Being one of the first standout Solana L2 coins, it is seeing strong demand from whales and retailers alike, with its presale closing on the $39 million milestone.
The project aims to address Solana’s 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.
Solaxy’s system enhances efficiency by processing transactions off Solana’s main chain, bundling them, and submitting them to the mainnet for final verification.
It's perfectly okay to think about $SOLX at night…
We won't tell 😉🔥https://t.co/mdaTX9aVVx pic.twitter.com/AZcIvfpiS6
— SOLAXY (@SOLAXYTOKEN) April 22, 2025
The team has also rolled out the Solaxy bridge on the testnet. As a result, Solaxy buyers can see how they can bridge their ETH or SOL tokens to the Solaxy layer-2 network.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.00173 each using BNB, ETH, USDT, or a bank card.
The project’s presale staking program also offers token holders a massive 104% APY. Anyone looking to buy SOLX at the best rate will want to hurry, as the token’s presale will end in about 26 days.
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