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The XRP price soared 7% in the last 24 hours to trade at $2.2532 as of 3:38 a.m. EST, with trading volume skyrocketing 152% to $5 billion.
This comes as President Donald Trump confirmed that he would not fire Federal Reserve Chair Jerome Powell, which reversed days of escalating public attacks on the central bank leader.
“I have no intention of firing him,” Trump told reporters at the White House. “I would like to see him be a little more active in terms of his idea to lower interest rates.”
🚨BREAKING: 🇺🇸President Trump says he has no intention of firing Fed Chair Jerome Powell pic.twitter.com/tepcCtpvnG
— CryptosRus (@cryptosrus_yt) April 22, 2025
Markets have welcomed the shift, with US equity index futures jumping nearly 2% in evening trading on Tuesday.
The crypto market has also seen a positive trajectory in the last 24 hours, jumping 5% to a $3 trillion market capitalization, as Coingecko data shows.
Ripple Token Price Invalidates Descending Triangle, Signals A 24% Surge Possibility
The XRP price has recently broken out of a descending triangle pattern, a formation typically viewed as bearish but which can signal strong bullish continuation when invalidated to the upside.
The breakout above the triangle’s upper trendline is a positive technical sign, suggesting a shift in market sentiment. This move has propelled the Ripple token price to test the $2.25 level, according to GeckoTerminal data.
Meanwhile, the 50-day Simple Moving Average (SMA) (currently at $2.20) is holding as near-term support, while the 200-day SMA at $1.95 confirms a broader bullish structure as the price remains well above it.
The Relative Strength Index (RSI) is at 57.62, reflecting bullish momentum without entering overbought territory.
Moreover, the Moving Average Convergence Divergence (MACD) also shows a bullish crossover, with the blue MACD line now above the orange signal line. The histogram is trending positively, indicating a strengthening momentum.
According to the XRP price chart analysis, the bullish breakout from the descending triangle, supportive moving averages, and healthy momentum on the RSI and MACD, XRP appears poised for further gains.
The $2.80–$3.00 resistance zone represents a potential 24.8% gain and offers a reasonable near-term price target for the Ripple token.
Conversely, if the bears take charge of the asset, the price of XRP could drop slightly to the $1.95 level, which coincides with the 200-day SMA.
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 Rockets Past $31 Million – Next 100X Crypto?
Solaxy is well on its way to becoming the biggest presale of 2025, with over $31.2 million raised so far. Investors are betting big on SOLX, which stands apart as the first-ever layer-2 (L2) solution on Solana.
Solana has been experiencing congestion problems during peak times, which makes transactions hang and sometimes even fail.
Solaxy was created to fix this while improving transaction speeds and reducing fees. This is similar to what Ethereum has done with some of its layer-2 solutions like Arbitrum and Optimism.
🚨 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
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 crypto ecosystems in the Web3 space.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001702 each using BNB, ETH, USDT, or a bank card.
The project’s presale staking program also offers token holders a huge 129% APY. Anyone looking to buy SOLX at the best rate will want to hurry, because the token’s price will increase in around 8 hours.
Related News:
- SOL Pumps 6%, But Experts Say Consider This Layer-2 Presale Token For 100X Gains
- BTC Breaks $90K With 5% Surge As This New Meme Coin ICO Closes On $5 Million
- Best Crypto to Buy Right Now April 22 – Flare, XRP, Pudgy Penguins
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