Join Our Telegram channel to stay up to date on breaking news coverage
The XRP price soared 10% in the last 24 hours to trade at $1.87 as of 4:56 a.m. EST on trading volume that fell 1% to $8.4 billion.
This comes as Teucrium Investment Advisors prepares to debut the first-ever XRP ETF (exchange-traded fund) in the US, with 2x leveraged exposure on the NYSE Arca exchange.
A 2x XRP ETF is launching tmrw in US, the first-ever XRP ETF on the market. Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, altho our odds are pretty high. Story via @isabelletanlee pic.twitter.com/Eg4Wq5Y1Qi
— Eric Balchunas (@EricBalchunas) April 7, 2025
XRP Price Currently Bearish – Incoming Reversal?
The XRP price has recently broken down from a descending triangle formation, a pattern typically associated with bearish continuation.
The triangle is delineated by a series of lower highs forming the descending resistance and a relatively flat support level near the $2.0 zone, according to GeckoTerminal data.
This support had held multiple times, creating a solid base until it was breached in the most recent price action.
Meanwhile, the triangle structure is mapped out with points A through D, showing repeated failed attempts to break upward and building pressure that eventually led to the breakdown.
The 50-day Simple Moving Average (SMA) stands at $2.31, significantly above the current Ripple token price of $1.8711, reflecting a shift in momentum to the downside.
The price of the Ripple token has also dipped below the 200-day SMA, now at $1.8523, which is particularly important as it historically marks the boundary between long-term bullish and bearish trends.
Moreover, the Relative Strength Index (RSI) is currently at 34.16, nearing oversold territory. While not yet below the key level of 30, it signals weakening momentum and the potential for a short-term bounce or consolidation.
Ripple Token Price Prediction
Given the descending triangle breakdown and bearish momentum, the XRP price will likely see further downside in the short term unless intense buying pressure re-emerges.
A measured move based on the triangle’s height suggests a possible drop toward the $1.40–$1.50 range, representing a continuation of the bearish structure.
Should the Ripple token price reclaim and close back above the $1.90 support level soon—especially with support, recovery might be on the cards. In that case, the first significant resistance lies at the 50-day SMA, around $2.31.
Meanwhile, investors are buying a new Solana meme coin called Solaxy (SOLX), which 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says might soar 10x after launch.
Solaxy Presale Charges Toward $30 Million – Best Crypto To Buy Now?
Solana is best known for its high-speed and low-cost transactions, which has led to a massive meme coin frenzy on its Pump.fun platform.
That’s led to congestion, network outages and transaction failures, the latest being during the TRUMP and MELANIA meme coin launches in January.
These issues are a major headache for DeFi users, NFT enthusiasts, and meme coin traders.
The Solaxy crypto project is a layer-2 scaling solution developed for the Solana blockchain. It aims to enhance decentralized applications (dApps), reduce transaction speeds, slash network costs, and improve scalability on Solana. The SOLX token serves as the core of the ecosystem.
🚨 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 provide a platform where developers can build decentralized applications or launch new tokens without compromising (and possibly even improving) Solana’s layer-1 capabilities.
Solaxy also offers holders who stake the project’s SOLX token a huge annual yield of 138%.
Investors are buying into this idea, with the project’s total presale raise already standing at over $29.4 million.
SOLX tokens are on sale for $0.001688 each and can be bought with BNB, ETH, USDT, or a bank card.
Buy before a price hike in slightly more than 1 day to secure the best deal.
Related News
- China Vows To ‘Fight To The End’ On Trump Tariffs
- SOL Surges 8%, But Investors Flock To This Layer-2 Crypto
- AITECH Plunges 13% In A Week As This ICO Nears $8M
Best Wallet - Diversify Your Crypto Portfolio
- 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
Join Our Telegram channel to stay up to date on breaking news coverage
