XRP Price Soars 8% to Trade at $2.31 as Trading Volume Plunges 23% to $8.5B

The XRP price has soared 8% in the last 24 hours to trade at $2.31 as of 7:00 a.m. EST

The XRP price has risen 8% in the last 24 hours to $2.31 by 7 a.m. EST on a 23% drop in trading volume to $8.5 billion.

The Ripple token price started the session at $2.3222, reached a high of $2.3314, and dropped to a low of $2.2634. This decline comes as XRP approaches a critical support zone between $2.00 and $2.30, which has historically acted as a strong demand area, preventing further downside and sparking rallies.

If buyers step in at this level, it could lead to a bullish reversal targeting higher resistance levels.

A closer look at the chart structure reveals that XRP recently broke out of a descending triangle pattern, which usually signals bearish continuation. However, instead of a major breakdown, the price found stability at the support zone. The resistance level around $3.50 remains a key barrier for upward movement.

If XRP bounces from support, it might rally back toward this level, possibly testing the recent highs reached earlier this year.

XRPUSD Analysis Source: Tradingview

The Relative Strength Index (RSI) is now at 36.83, indicating that XRP is approaching oversold territory. The orange signal line at 47.15 shows that momentum is still weak, but a bullish crossover above 50 could confirm the beginning of an upward trend.

Moreover, price action near this support zone will be crucial; if XRP fails to hold above $2.00, a breakdown could push prices further down toward the next support at $1.91.

XRP is at a pivotal moment, and market participants will determine the next major move.

If buyers manage to defend the $2.00 – $2.30 support zone, a bullish breakout could send the price toward $3.50 and beyond. On the other hand, failure to maintain this level could lead to a deeper correction toward $1.91 or lower.

Traders should keep an eye on increased buying volume, RSI movement, and price action near the support zone to confirm the next direction.

Solaxy Presale Nears $24 Million – Best Crypto To Buy Now?

As the XRP price picks up pace, investors are also focused on Solaxy (SOLX), a presale token rapidly approaching the $24 million milestone.

With Solana’s native SOL token seen pulling back in price, traders are looking for fresh opportunities to invest in the blockchain network, and Solaxy appears to be a prime candidate.

The project’s scaling solution for the chain and strong investor demand have made it a major force in Solana’s ecosystem.

Meme coin trading on Pump.fun has congested the network, especially after the launch of the TRUMP and MELANIA meme coins.

You'll start feeling the vibes when you enter Solaxy 🪐🛸pic.twitter.com/jORMaqOjs2

— SOLAXY Help Team 𝕏 (@SOLAXYTOKEN_HT) February 16, 2025

Solaxy aims to resolve this by creating a Layer 2 sidechain that processes transactions off of the main Solana network before bundling them and submitting them back to Solana’s Layer 1 for final validation, thus significantly reducing congestion, lowering fees, and improving transaction efficiency.

This is also helping to boost the presale token rapidly toward its goal.

One analyst from the 99Bitcoins YouTube channel, which has over 726k subscribers, thinks that the token could easily 10x in price after its presale launch.

Presale investors can also stake SOLX for a high APY of 172%, with over 6.6 billion tokens already locked.

Currently, SOLX is priced at $0.001646 and can be purchased using ETH, USDT, BNB, or SOL. However, investors have less than 8 hours to buy at this price point before the next scheduled presale price increase.