Ripple's Digital Dollar, RLUSD, Listed on Gemini Boosts XRP Price Predictions; Solaxy Presale Surging Towards $34 Million
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The price of XRP took a 4% tumble in the past 24 hours, trading at $2.09 as of 3:34 a.m. EST on a 37.6% surge in volume to $2.22 billion.
This recent dip in the Ripple Token value comes despite the recent listing of Ripple's stablecoin, RLUSD, on Gemini for trading, deposits, and withdrawals. This move was seen as a significant step forward for Ripple's ecosystem, signaling increased mainstream adoption and trust in the crypto space.
🔥 RLUSD is now available on Gemini!Deposits and withdrawals have been enabled ✅💱Buy, sell, store it now: Gemini💼📈
- Gemini (Gemini) May 5, 2025
However, the positive impact of RLUSD's growing exchange presence and institutional use has yet to lift XRP's price, which continues to face pressure due to broader market conditions and less-than-ideal technical signals.
XRP Prices Plummet Towards Critical Support As Technical Indicators Turn Sour
Currently trading at $2.092, XRP has seen quite the rollercoaster ride recently. The asset reached a high of $3.40 in early January but has since plummeted to $1.61 in April following repeated rejections from a descending trendline on the daily chart.
RXP recently faced another rejection near the $2.30 mark, aligning with the 0.382 Fibonacci retracement level. This steep decline has set the stage for a possible drop towards the $1.95 support zone, representing a decline of 5.79% from the current levels.
The $1.95 area, corresponding with the 0.5 Fib level, has historically acted as a strong support zone. If held, XRP might bounce back towards the $2.30 resistance. But a break below $1.9581 could trigger a deeper move down to $1.612, aligning with the 0.618 Fib level.
XRP/USDT Analysis Source: Tradingview
XRP Holds Steady As Bears Take Charge
Technical indicators are telling a cautious tale. The Relative Strength Index (RSI) stands at 43.06, suggesting a neutral to bearish momentum with no apparent oversold conditions.
Meanwhile, the Moving Average Convergence Divergence (MACD) is displaying bearish signs as the MACD line starts to cross below the signal line, indicating increasing selling pressure.
In the immediate future, XRP could consolidate between $1.95 and $2.10 unless a break above $2.30 happens. A powerful surge above that level could revive bullish sentiment and potentially push the token back toward January's high of $3.42.
Could Solaxy Be the Next 100X Gem?
As XRP investors brace themselves for a potential price drop, their attention is shifting toward Solaxy (SOLX), an innovative Layer-2 scaling solution for the Solana network.
Solaxy has gained momentum following the successful completion of its presale, raising over $33.4 million, signaling robust investor confidence in the project's ability to address Solana's escalating congestion issues.
With Solana's rapid growth but lingering scalability problems, Solaxy's solution might very well be a game changer.
Solana, known for its lightning-fast transactions and low fees, struggles during high-traffic periods that often lead to transaction failures and rising costs, revealing the platform's limitations.
Solaxy's off-chain transaction processing system, designed to minimize congestion on the Solana blockchain, follows in Ethereum's footsteps with similar Layer-2 scaling solutions.
The project's cross-chain capabilities also trumpet the potential to bridge Ethereum's burgeoning DeFi ecosystem and liquidity with Solana's high-speed, low-cost infrastructure, paving the way for the creation of a hybrid platform optimized for performance and scalability.
99Bitcoins, a popular crypto YouTube channel with over 725k subscribers, has tipped SOLX as one of the most promising new tokens with 100x potential after its launch. The project also boasts a staking program offering a 120% APY.
Priced at $0.001716, SOLX tokens can be bought through the Solaxy website using cryptocurrency or credit cards.
Solaxy has also integrated with Best Wallet to offer easier access to users. Buy and manage your SOLX tokens directly within the app.
However, with the deadline for securing tokens at the current rate fast approaching, the window for investing is closing rapidly.
Learn more about Solaxy.
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Investing in technology like Solaxy (SOLX) might offer promising returns, especially as it aims to address scalability issues on the Solana network.
Meanwhile, Financing through investing in crypto assets like XRP requires a keen eye on both the broader market conditions and specific technical indicators, such as the RSI and MACD, for predicting price movements.
