Solaxy (SOLX) Token Eyes $30M In Presale As Investors Bet On Solana’s First Layer-2 Solution

Solaxy continues to steal the spotlight in the crypto market, with a soaring presale that has already garnered over $27.8 million

The price of XRP dropped more than 1% over the last 24 hours to trade at $2.42 by 2:36 a.m. EST, as trading volume fell 7% to $2.5 billion.

This comes after Ripple CEO Brad Garlinghouse expressed optimism over the changing landscape of the U.S. crypto market. According to Garlinghouse, the U.S. is “finally unlocked” following the U.S. Securities and Exchange Commission’s (SEC) decision to drop its appeal against Ripple.

The dismissal of the SEC case allows us to unlock the US Market Expansion.

The scene is set for an interesting year in crypto.

— Brad Garlinghouse (@BradGarlinghouse) March 24, 2025

The XRP price has been showing signs of breakout potential from a falling channel pattern.

As the chart above shows, the price of XRP is approaching a critical resistance level at the upper boundary of the falling channel, which could be crucial for the next major price move.

The 50-day Simple Moving Average (SMA) is currently at $2.4276, while the 200-day SMA sits at $1.7445, according to GeckoTerminal data.

The price of XRP is still trading above the 200-day SMA, which suggests that the price of the Ripple token is still in a long-term uptrend. However, the 50-day SMA acts as dynamic resistance, meaning a breakout above this level would further confirm a bullish reversal.

If the price of XRP manages to hold above the 50-day SMA after breaking out of the channel, it could set the stage for continuation of the upward trend.

Moreover, the Relative Strength Index (RSI) stands at 51.18, indicating neutral territory. This implies that XRP is neither in overbought nor oversold conditions, leaving room for further price increases.

The blue Moving Average Convergence Divergence (MACD) line is slightly above the orange signal line, with the histogram displaying minimal bearish momentum. This suggests that bearish pressure is decreasing, and the market could be approaching a bullish crossover.

Given the current technical setup, the price of XRP is at a critical juncture where a decisive breakout could determine the next significant price move.

If the Ripple token price manages to break out of the descending channel and sustain itself above $2.50, it could trigger a strong rally toward the $3.00 level.

A sustained bullish trend could even push the price toward $3.50, as indicated by the projection arrow on the chart.

On the other hand, if XRP fails to break above the falling channel pattern, it may continue its downward consolidation, with key support levels located around $2.00 and the 200-day SMA at $1.74.

The post XRP Price Analysis: Is A Breakout From This Pattern Imminent? appeared first on Benzinga.