Solaxy (SOLX) Token Price Soars 10x After Raising $30M in Presale

The XRP price tumbled 6% in the last 24 hours to trade at $2.16 as of 10:59 p.m. EST

The U.S. Securities and Exchange Commission (SEC) has dismissed cases against Kraken, Cumberland, and Consensys but kept one against Ripple.

The cases were dropped through joint stipulations filed “with prejudice,” meaning that the SEC cannot refile the same claims later. Earlier this year, the agency closed its investigation into the Crypto.com crypto exchange without pursuing any further action.

However, the SEC is continuing its case against Ripple, which began in December 2024. The agency is appealing a March ruling by a federal judge who largely sided with Ripple in the case.

According to legal experts, the failure to drop Ripple’s case is expected, as there is an existing injunction against Ripple that the SEC must navigate before pulling back its appeal.

No @Ripple here but I’m not entirely surprised because, again, it is slightly different to these other cases in that (as @s_alderoty mentioned in his post) the SEC now has to go to the Southern District and ask Judge Torres to lift the standard injunction. Once that is done, they…

— Eleanor Terrett (@EleanorTerrett) March 27, 2025

Ripple Token Price In A Corrective Phase

The XRP price on the daily chart shows that the token has been in a strong bullish trend since late 2024, reaching a high of $3.40 before entering a corrective phase.

Currently, the Ripple token price is trading with a well-defined falling channel pattern, indicating a consolidation phase following the previous uptrend.

The price of XRP remains above the 200-day Simple Moving Average (SMA), which sits at $1.7797. This suggests that the broader trend is still bullish despite the short-term correction.

However, XRP is now trading below the 50-day SMA at $2.4166, which indicates near-term bearish pressure. The descending channel pattern suggests that XRP is in a corrective phase but could breakout once buying momentum returns.

The Relative Strength Index (RSI) is at 40.99, which indicates weak momentum and suggests that XRP is experiencing bearish pressure.

XRP/USDT Chart Analysis (Tradingview)

XRP Price Prediction

According to the XRP/USDT analysis, the Ripple token price is at a crucial juncture. If the XRP price breaks above the 50-day SMA at $2.4166, it could attempt to retest higher resistance levels, such as $2.80 and eventually $3.00.

On the other hand, if the price of XRP continues to decline within the descending channel, it could test support near the 200-day SMA at $1.7797. A breakdown below this level could push the price of Ripple token toward the $1.50 region, signaling a more extended bearish phase.

As the Ripple token price plunges, investors are rushing to buy a new Solana layer 2 project called Solaxy (SOLX).

99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says SOLX might soar 10x after launch.

Solaxy Presale Closes On $30 Million

Solana has an impressive $65 billion market capitalization and theoretical throughput of 65,000 transactions per second. However, the network still faces an absurd challenge from its own success.

The very features that attracted millions of users, including swift processing and minimal fees, have created persistent congestion issues, which affect Solana’s performance during peak activity periods.

Solaxy aims to solve Solana’s congestion problems by improving its efficiency and speed with features like transaction bundling and off-chain processing.

Investors are already backing the idea with more than $28.4 million in funding. 

🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.

Solary is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNV

— Best Wallet (@BestWalletHQ) December 17, 2024

Although Solaxy is built to work with Solana, the project will first launch on Ethereum. The team is developing a bridge between the two blockchain networks to connect them.

By buying and holding SOLX, users can earn passively through the platform’s staking mechanism, offering a sky-high annual yield of 144%.

Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens at the current price of $0.001678 each using BNB, ETH, USDT, or a bank card.

Buy before a price hike in a little more than 1 day to secure the best deal.

Visit SOL