XRP Price Prediction: Ripple Token Plunges 5% As Trump’s Crypto Summit Disappoints, While Traders Buy This Solana Layer 2 For 10X Gains

The below article is sponsored, meaning Insidebitcoins may receive a commission for affiliate links in the content. Cryptocurrencies are high-risk investments, and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest.

XRP price
XRP price

Join Our Telegram channel to stay up to date on breaking news coverage

The XRP price plunged 5% in the last 24 hours to trade at $2.34 as of 09:17 p.m. EST on trading volume that rose 48% to $5.2 billion.

This comes after the first-ever White House Crypto Summit on Friday left investors underwhelmed, just as an executive order to set up a Strategic Bitcoin Reserve had done a day earlier.

Ripple Token Price Aims For A Trend Reversal

The XRP price experienced a strong parabolic rally in late 2024, pushing the asset to a peak of $3.40. This rally was followed by a period of consolidation inside a rising channel, indicating a steady uptrend.

However, the XRP price recently broke below this channel, suggesting that bullish momentum has weakened.

The breakdown led to a dip below the 50-day Simple Moving Average (SMA) ($2.67), which previously acted as a strong support level. The Ripple token pric attempted a recovery but faced rejection near the channel’s lower boundary, reinforcing the bearish sentiment. Now, the 200-day SMA ($1.59) stands as a crucial support level if the downtrend continues.

Meanwhile, the Relative Strength Index (RSI) is at 45.79, indicating neutral momentum. A drop below 40 could suggest increasing bearish momentum, while a move above 50 would signal growing strength.

The blue Moving Average Convergence Divergence (MACD) line (-0.0483) is below the orange signal line (-0.0576), confirming bearish momentum. A bullish crossover (MACD moving above the signal line) would indicate a shift toward upward momentum.

XRP Price

XRP/USDT Chart Analysis Tradingview

XRP Price Prediction

XRP is at a critical decision point. If the Ripple token price remains below $2.67, the price could decline further toward $2.00 and eventually test the 200-day SMA ($1.59) as support.

Conversely, if the price of XRP reclaims $2.67 and breaks above the rising channel resistance, it could retest $3.00-$3.40 levels.

As the XRP price drops, investors are buying into a new Solana layer 2 project called Solaxy (SOLX).

According to 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, Solaxy has the potential to soar 10X after its launch.

Solaxy Presale Heads For $26 Million

Solaxy has raised over $25.4 million, showcasing remarkable investor demand for the innovative project. 

SOLX is a Solana layer 2 solution that is designed to enhance speed, scalability, and efficiency within the Solana ecosystem. Solaxy addresses key issues such as network delays and transaction failures while simultaneously leveraging Solana’s inherent strengths.

The project also provides an optimized user experience tailored to the growing demands of the blockchain industry while focusing on performance and customization.

Additionally, Solaxy bridges Solana with Ethereum, combining the best features of two of the most prominent networks in crypto space. 

By leveraging Ethereum’s liquidity and security alongside Solana’s speed and scalability, Solaxy aims to create a robust ecosystem tailored to accommodate the growing demands of the decentralized finance (DeFi) and meme coin communities.

Buyers of the SOLX token can also earn passively on the platform, with a huge 161% annual yield currently on offer.

Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001656 each using BNB, ETH, USDT, or a bank card.

Buy before a price hike in less than 7 hours to lock in the best deal.

Buy SOLX here.

Related Articles 

Best Wallet - Diversify Your Crypto Portfolio

Our Rating

Best Wallet
  • Easy to Use, Feature-Driven Crypto Wallet
  • Get Early Access to Upcoming Token ICOs
  • Multi-Chain, Multi-Wallet, Non-Custodial
  • Now On App Store, Google Play
  • Stake To Earn Native Token $BEST
  • 250,000+ Monthly Active Users
Best Wallet

Join Our Telegram channel to stay up to date on breaking news coverage

Read next