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The XRP price soared 5% in the last 24 hours to trade at $2.34 as of 3:36 a.m. EST on trading volume that surged 21% to $5 billion.
This comes despite Caroline Crenshaw, a US Securities and Exchange Commission (SEC) commissioner, blasting the Ripple deal, suggesting that the agency’s settlement with the firm could create a regulatory gap.
The SEC and Ripple filed a joint settlement letter in a New York court asking for the August 2024 injunction against Ripple to be dissolved and that $75 million of the $125 million in civil penalties held in escrow be returned to the crypto firm.
According to Crenshaw, the settlement would join a line of dismissals that collectively eroded the credibility of the agency’s lawyers, who were being asked to take legal positions contrary to the ones taken in the past.
XRP Price Poised For A Bullish Trend Continuation
The XRP price appears to be completing an Elliott Wave 5 structure after rebounding from the Wave (4) correction near the $2.00 support zone.
The Ripple Token price has formed a solid base around this level and has begun a new upward leg, breaking through a local descending trendline and currently trading at $2.34. This structure suggests the potential beginning of a Wave (5) rally, according to GeckoTerminal data.
Additionally, the price of XRP is now trading above both the 50-day and 200-day Simple Moving Averages (SMAs), showing renewed bullish strength and trend continuation.
The Relative Strength Index (RSI) is sitting at 62.16, reflecting strong but not overextended bullish momentum. This suggests that there’s still room for further upside before overbought conditions are met.
Moreover, the Moving Average Convergence Divergence (MACD) is also bullish, with the MACD line (0.0242) crossing above the signal line (0.0132) and both above the zero line. These momentum indicators align with the current breakout and reinforce the bullish wave continuation narrative.
With the technical breakout and wave structure, XRP is poised to target the previous high around $2.75–$2.80. The immediate projected move is toward $2.75, representing a 17.53% increase from current levels. This aligns well with the final leg of a typical 5-wave Elliott sequence.
On the flipside, if the bears take charge at this level, the price of the Ripple token could drop slightly to the $2.0 support level.
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 10X post-launch.
Solaxy Presale Rushing Toward The $34 Million Milestone – Next 10X Crypto?
Solaxy is Solana’s first Layer 2 project. It aims to upgrade the network and enable lower fees, faster transactions, reduced downtime, and improve the network’s overall stability.
By processing transactions off of Solana’s main chain, bundling them together, and submitting them to the mainnet for final verification, Solaxy’s system improves 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.
It's perfectly okay to think about $SOLX at night…
We won't tell 😉🔥https://t.co/mdaTX9aVVx pic.twitter.com/AZcIvfpiS6
— SOLAXY (@SOLAXYTOKEN) April 22, 2025
Solaxy has successfully raised $33.8 million in funding through its presale, which signals strong investor confidence in the project’s future.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001718 each using BNB, ETH, USDT, or a bank card.
Solaxy also offers holders who stake SOLX a huge annual yield of 118%.
Interested investors will want to buy SOLX before the next presale price hike in around 8 hours to secure the best deal.
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