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The XRP price plunged 3% in the last 24 hours to trade at $2.05 as of 3:42 a.m. EST, with trading volume dropping 3% to $2.6 billion.
The price drop is in line with the crypto market downtrend, which saw the market’s capitalization plunge over 4% in the last 24 hours to $2.7 trillion, according to Coingecko data.
This comes after US President Donald Trump’s administration announced a new tariff of up to 245% on Chinese imports. The decision comes in response to Beijing’s recent export restrictions and retaliatory tariffs.
245%!!!
"The White House stated that China now faces up to a 245 percent tariff on imports to the United States due to its “retaliatory actions”, according to a document released on April 15th" pic.twitter.com/s7ycgPdaUb
— Canadian Prepper (@PrepperCanadian) April 16, 2025
XRP Price Trading On A Bearish Trend
The XRP price daily chart reveals a notable descending triangle pattern, a typically bearish continuation structure.
This triangle has been developing over several months, with clear lower highs forming the descending trendline and a relatively horizontal support base near the $2 level, as GeckoTerminal data shows.
The repeated tests of this support, alongside declining highs (labeled A, B, and D), suggest that sellers have maintained control over the market, consistently applying pressure at lower price levels.
Despite a recent attempt to break the triangle resistance, the Ripple token price could not sustain upward momentum and remains tightly compressed within the formation.
Meanwhile, the 50-day Simple Moving Average (SMA) is sitting above the price of XRP at $2.2363, acting as dynamic resistance, while the 200-day SMA below $1.9112 provides a key support level.
This alignment is relatively neutral, but the price trending below the 50-day SMA leans slightly bearish in the short term.
The Relative Strength Index (RSI) stands at 46.17, below the midpoint of 50. This indicates mild bearish momentum, though not yet oversold.
Moreover, the MACD (Moving Average Convergence Divergence) indicator shows the blue MACD line barely above the orange signal line, with a reading of 0.0196 versus -0.0562 on the signal.
This slight bullish crossover is tentative and could be invalidated quickly if downward pressure resumes.
Ripple Token Price Prediction
Given the formation of a descending triangle and the indicators aligning in a cautious to slightly bearish configuration, a breakdown from the current pattern appears more likely unless bulls can reclaim the 50-day SMA with conviction.
A decisive close below the horizontal support near $2.05 could lead to a move toward the 200-day SMA at $1.91. If that fails, the XRP price could move to the next psychological level, around $1.75.
However, a bullish reversal could be confirmed if the Ripple token price breaks out above the descending resistance line and sustains above $2.25, especially with an RSI recovery above 50 and a stronger MACD crossover. In that case, a rally toward $2.60–$2.80 might follow.
Meanwhile, investors are buying a new Solana token called Solaxy (SOLX), which 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says might soar 10x after launch.
Solaxy Presale Heading Towards The $31 Million Milestone
Solaxy is pulling investor in with its ongoing blockbuster presale, which has raised over $30.2 million.
It’s raising funds to build the first-ever Solana Layer 2 blockchain, and investors are showing great interest.
The project aims to address Solana’s network congestion issues by implementing off-chain processing mechanisms similar to Ethereum’s Layer 2 solutions.
This model has already been proven successful in scaling a blockchain through platforms 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
By processing transactions off of Solana’s main chain, bundling them together, and submitting them to the mainnet for final verification, Solaxy’s system enhances efficiency.
Once launched, Solaxy will also provide a platform where developers can build decentralized applications or launch new tokens without compromising Solana’s Layer 1 capabilities.
Solaxy also offers token holders who stake SOLX a huge annual yield of 134%
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001696 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in 30 hours to lock in the best deal.
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