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Ripple's Coin, XRP, Projects Soaring Heights as Gemini Adds It to Their Trading Platform; Solaxy Pre-Sale Nears $34 Million Mark
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Ripple (XRP) takes a hit amidst surging volume
The XRP price has seen a 4% drop in the past 24 hours, settling at $2.09, while trading volume shot up by 37.6% to $2.22 billion as of 3:34 a.m. EST. This downturn in XRP's token price transpired despite Gemini adding its stablecoin RLUSD for trading, deposits, and withdrawals – a move intended to bolster confidence and encourage mainstream adoption.
Gemini (@Gemini), May 5, 2025
However, the surge in exchange presence and institutional demand for RLUSD has yet to translate into a lift for XRP, which remains under pressure from broader market conditions and unfavorable technical indicators.
XRP Price Dives Towards Key Support as Technical Signals Turn Bearish
Currently trading at $2.092, XRP has experienced a tumultuous few months, with the crypto asset peaking near $3.40 in early Jan and plunging to $1.61 in April following multiple rejections of a descending trendline displayed on the daily chart.
Recently, XRP has encountered yet another rejection near the $2.30 mark, aligning with the 0.382 Fibonacci retracement level. This latest decline has created an opportunity for a possible drop towards the $1.95 support zone, equating to a 5.79% price decline from the current levels.
The $1.95 area, corresponding with the 0.5 Fib level, has previously served as a robust support zone. If it holds, XRP could spring back towards the $2.30 resistance. Conversely, breaching the $1.9581 threshold could lead to a deeper slump to the $1.612 level, which aligns with the 0.618 Fib level.
XRPUSDT Analysis Source: Tradingview
XRP Holds Steady as Bears Gain Ground
Upcoming Price Predictions for Solaxy (SOLX)
As XRP investors navigate a potential price plunge, focus shifts to the promising Layer-2 scaling solution for the Solana network, Solaxy (SOLX). In the wake of its presale surpassing $33.4 million, substantial investor confidence is fueling expectations that it could be the next 100x gem.
Solana, appreciated for its rapid transactions and minimal charges, is grappling with growing pains as its popularity swells. High-volume periods, like the launches of meme coins, often lead to transaction failures and rising costs due to congestion.
SOLAXY (@SOLAXYTOKEN), May 6, 2025
To combat these issues, Solaxy is building an off-chain transaction processing system that bundles and validates transactions off-chain before finalizing them on Solana's mainnet. This design aims to improve speed and overall network efficiency.
Additionally, Solaxy's cross-chain capabilities seamlessly merge Ethereum's DeFi ecosystem and its liquidity with Solana's high-speed, low-cost infrastructure, creating a hybrid platform optimized for performance and scalability.
Popular crypto YouTube channel 99Bitcoins, with over 725k subscribers, affirms that SOLX is one of the most exciting new tokens with the potential to achieve 100x gains post-launch. Moreover, Solaxy's staking program offers a 120% APY on SOLX tokens, which can be bought on the Solaxy website using cryptocurrency or bank cards. Integration with Best Wallet makes access even easier, enabling users to purchase and manage their SOLX tokens directly within the app.
However, with a price spike set to occur in under 29 hours, securing tokens at the current rate is an opportunity that won't last long.
Stay informed on Solaxy, Ripple, and other crypto trends.
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- The surge in demand for RLUSD due to Gemini's announcement has not had a positive impact on the price of Ripple (XRP).
- Despite the 4% drop in XRP price, trading volume on the crypto asset has significantly increased, reaching $2.22 billion.
- The dynamic Telegram community offers exclusive updates and breaking news about the crypto scene, helping investors make informed decisions in the world of finance and technology.
- Investors are looking towards Solaxy (SOLX), a Layer-2 scaling solution for the Solana network, as a potential new 100x gem in the crypto market, especially with its upcoming price surge in under 29 hours.
