XRP has gone down 8.3% in the past 24 hours as yesterday’s vicious sell-off in the afternoon erased most of the gains that the token experienced on Sunday.
Donald Trump’s inclusion of XRP in his proposed list of digital assets that could make it to a planned U.S. crypto reserve boosted the price to $3 during the weekend.
However, the market rapidly cashed out of these unexpected profits. The result: the price of XRP collapsed to pre-Sunday levels just 24 hours after.
Now, the token is recovering during the American session and the price currently stands at $2.45 after a technical pattern emerged in the hourly chart that could precede a significant climb in the next few hours.
Trading volumes have been relatively unchanged compared to yesterday’s session. Since these were already a bit high compared to usual levels, the market is still quite volatile at this point.
Why is Donald Trump’s Mention of XRP Important?
Donald Trump appointed a task force to study the pros, cons, technical feasibility, and risks of creating a national digital asset stockpile. Initially, crypto enthusiasts believed that the head of state would focus mostly on Bitcoin (BTC).
However, his latest comment on the matter changed the narrative as Trump included Solana (SOL), Ethereum (ETH), XRP (XRP), and even Cardano (ADA) to the list of candidates that could make it to this crypto reserve.
XRP is the native asset of the Ripple network, a decentralized blockchain whose mission is to facilitate cross-border payments. This company is based in the US and industry observers believe that this could play in its favor as pro-crypto policies from Trump may benefit American businesses primarily.
XRP Needs to Recapture the $2.60 Level to Retest the $3 Resistance
XRP’s daily chart shows that the asset is retreating during today’s session shortly after touching its trend line resistance. This is not a good sign as it signals that market participants are unwilling to reverse the trend.
Sunday’s price boost managed to push the price above its most recent lower high, but market sentiment is still heavily depressed, as indicated by the Fear and Greed Index. This gauge currently stands at its lowest level since it was launched in June 2023.
Momentum indicators are still favoring a bullish short-term outlook as the Relative Strength Index (RSI) remains above the signal line while the MACD’s histogram is still in positive territory as well.
Meanwhile, the hourly chart shows a bullish structure as XRP made a double-bottom once it touched the $2.20 level. This indicates that buyers are interested in scooping up the token every time it hits that level.
In this time frame, positive momentum is also steadily growing while the RSI is above the signal line and on an uptrend.
A short-term target for XRP could be set at $2.6 – just above the trend line resistance. For bulls, it would be critical to keep the price above that threshold if the goal is to get XRP back to $3 in the near term.
Solana was also mentioned alongside XRP as one of the assets that could make it to Trump’s strategic reserve. However, the Solana network has experienced congestion issues in the past that need to be solved if it will accommodate higher transaction volumes.
Solaxy is a layer-two scaling solution that aims to fix this issue so the Solana ecosystem can grow faster and stronger. This project’s presale event is already becoming one of the best crypto presales of the year.
Solaxy ($SOLX) Raises Nearly $25M to Launch its Side-Chain
Since its presale event kicked off in December last year, Solaxy ($SOLX) has raised $24.9 million to launch its scaling solution for Solana.
The launch of TRUMP in late January evidenced the issues that Solana faces during peak usage times. Both exchanges and investors experienced transaction delays and errors. By bundling transactions offline, Solaxy alleviated the mainnet’s burden to keep success rates at the highest possible level. This makes the project one of the best ICOs of 2025 amid its solid value proposition.
The developing team provided encouraging updates earlier this month as they tested the Solaxy rollup on the Solana devnet. The presale event should end in a few days, so investors still have time to buy $SOLX at its discounted price of $0.001662.
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap the token for USDT, ETH, or SOL or use a bank card to make your investment.
