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The XRP price surged 5% in the last 24 hours to trade at $2.50 as of 04:15 a.m. EST on trading volume that plunged 28% to $8.1 billion.
This uptick in the Ripple token price comes as Cardano founder Charles Hoskinson dismisses US crypto reserve doubts.
Renowned gold advocate Peter Schiff was among the skeptics. He acknowledged the logic of Bitcoin in reserves (even if he doesn’t personally agree) because of its gold-like properties, but asked what justifies XRP’s inclusion.
Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision
— Charles Hoskinson (@IOHK_Charles) March 2, 2025
Hoskinson weighed in, asserting that XRP has earned its place and is “a global standard.”
Is XRP Pice Preparing For A Bullish Move?
The XRP price has been trading in a strong uptrend since late 2024, with a significant rally followed by a period of consolidation.
The Ripple token price recently bounced off key support around $2.00, forming a double-bottom pattern, which is a bullish reversal signal.
Currently, the XRP price is attempting to reclaim its previous resistance level near $2.71, which, if broken, could trigger another leg up toward higher price targets.
The blue arrow on the chart indicates a potential move towards the next resistance area, around $3.50, according to data from GeckoTerminal.
The Relative Strength Index (RSI) is at 49.82, indicating that XRP is currently in neutral territory. This suggests that the asset has room for further upside before reaching overbought levels. If the RSI moves above 60, it would confirm stronger bullish momentum.
The Moving Average Convergence Divergence (MACD) is showing early signs of a bullish crossover, with the MACD line attempting to move above the signal line.
If this crossover completes, it could indicate growing buying pressure and lead to a potential rally.
Ripple Token Eyes Push To $3.5
If the XRP price successfully breaks and holds above the $2.71 resistance level, the next target would be $3.50, as suggested by previous highs.
A sustained move above $3.50 could push the Ripple token price even higher, possibly toward $4.00 in the coming weeks.
However, if the price fails to hold above $2.71, a retest of $2.30 or even $2.00 (previous support zone) could occur before another attempt at a breakout.
Meanwhile, investors are buying a new Solana meme coin called Solaxy (SOLX), which popular YouTube channel 99Bitcoins, with over 725K subscribers, says has the potential to soar 100X post-launch.
Solaxy Presale Surpasses The $25 Million Milestone
Solaxy is the first Layer 2 meme coin built to enhance Solana’s scalability and tackle network congestion, all while slashing transaction costs.
By optimizing Solana’s infrastructure, Solaxy isn’t just another project—it’s shaping the future of Solana-based crypto launches.
But its ambitions don’t stop there. Built with cross-chain technology, it merges the best of Solana and Ethereum. Therefore, SOLX creates a powerful asset that stands out from traditional meme coins.
🚨 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
Moreover, 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.
Over $25 million has already poured into the SOLX presale, signaling strong market demand at this early stage. Solaxy also offers holders who stake the project’s SOLX token a huge annual yield of 164%.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001654 each using BNB, ETH, USDT, or a bank card. Anyone looking to buy will want to act fast, because the meme coin’s price will undergo a presale hike in 29 hours.
Related News:
- FTX And Alameda Unstake $431 Million In SOL
- DOGE Jumps 5% As This $3.9M Meme Coin ICO Offers Investors Last Chance To Buy
- SOL Pumps 6%, While This Layer-2 ICO Closes On $25 Million
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