Ripple Valuation Potentially Soaring to $5 Billion with Bloomberg's Report, While Solaxy Presale Surges Beyond $32.6 Million
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The price of XRP dipped by more than 1% in the last 24 hours, trading at $2.21 as of 4:45 a.m. EST, with trading volume surging around 14% to $2.9 billion. This shift comes amidst a Bloomberg report from April 30 hinting that Ripple placed a bid ranging between $4 billion to $5 billion to take over stablecoin issuer Circle. Unfortunately, this bid was deemed too low and was rejected. At the moment, Ripple has not made a decision regarding another potential bid to purchase Circle.
Circle's recent application for an Initial Public Offering (IPO) in the United States has sparked speculation about Ripple's interest in the stablecoin market. If Ripple successfully acquired Circle, it could significantly boost XRP's utility and long-term value, establishing the company as a major force in global crypto finance.
XRP Price Readying for a Bullish Rally in Wave 5
Thanks to an Elliott Wave structure, XRP appears to be nearing the end of a bullish sequence. After bouncing back from the 200-day Simple Moving Average (SMA), XRP trades at $2.00, demonstrating strong dynamic support. Moreover, XRP has recently reclaimed its 50-day SMA, further reinforcing the bullish trend and suggesting upward continuation.
The Relative Strength Index (RSI) currently rests at 53.04, reflecting a neutral-to-bullish momentum. This suggests that the XRP token price still has room for growth before entering overbought territory. If the Elliott Wave dynamics remain consistent, XRP might target the previous resistance zone around $2.75.
However, in the event that bears take control, support around $1.64 could act as a cushion against market downturns.
Meanwhile, investors are flocking to Solaxy (SOLX), a new Solana project. According to 99Bitcoins, a popular YouTube channel with over 725K subscribers, the crypto has the potential to skyrocket by as much as 100X following its launch.
Unleashing Solana's Potential with Solaxy
Solana's speed and low fees are well-known, but scalability and reliability have been concerns, especially when compared to Ethereum. To address these issues, Solana introduces Solaxy – the first Layer-2 solution for Solana, designed to tackle congestion and scalability problems. By enabling off-chain processing mechanisms similar to Ethereum's Layer-2s, Solaxy could offer Solana's network the sustained growth it needs without compromising its renowned performance.
Solaxy has already managed to raise $32.6 million through its presale, hinting at robust market demand for this promising project. Investors looking to take part in the presale can visit the Solaxy website to purchase SOLX tokens for just $0.00171 each. SOLX holders can earn a staggering annual yield of 123% when they choose to stake their tokens, making it an intriguing investment opportunity. But be quick – the next price increase is predicted within the next 7 hours!
Don't miss out on Solaxy's presale - Visit the Solaxy website
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- The average price of XRP might see a significant hike if Ripple decides to acquire Circle, as suggested by the recent speculation and the potential boost to XRP's utility and long-term value.
- The Solaxy presale is currently ongoing, with investors purchasing SOLX tokens for $0.00171 each, hoping to benefit from the projected 123% annual yield on staking.
- As the Elliott Wave dynamics suggest, the price of XRP could potentially reach the previous resistance zone around $2.75, experiencing a bullish rally after bouncing back from the 200-day Simple Moving Average.
