Solana Selling Dwindles, Ripple CEO Speaks on CME's Significant XRP Advance, XRP Access Simplified for 20 Million Japanese Users Via One-Click: Cryptocurrency updated report by U.Today
Let's get down to business, folks! Here's the lowdown on what's been shaking up the crypto world over the past day:
Solana's comeback as sell-off risks subside
Solana's no slouch: The Solana (SOL) price has bounced back from a low of $145.66 to reclaim the $150 resistance level, showing signs of potential growth. At press time, SOL is trading at $154.41, setting its sights even higher. With a daily increase of 3.36%, SOL's on a roll, and the trading volume is looking robust at $4.28 billion, up almost 10% over the past day. SOL's surged by 15.93% in the past week, making some traders believe it could hit $200, especially with the asset using U.S. trade tariff to lure in investors.
Ripple CEO hypes up CME's XRP move
Brad Garlinghouse, Ripple CEO, spilled the beans on his X platform, expressing his excitement over CME Group's forthcoming XRP futures launch. He called the move "an incredibly important and exciting step in the continued growth of the XRP market." CME Group's set to introduce regulated XRP futures on May 19, making a significant impact on the XRP token. CME is the big cheese in crypto futures, accounting for the biggest share of Bitcoin futures open interest ($13.14 billion out of $65 billion). It launched Bitcoin futures back in January 2018 and introduced Ethereum (ETH) futures in February 2021.
XRP gets cozy with Japan's Mercari
XRP just got more accessible thanks to Mercari, Japan's leading resale marketplace. XRP trade is now available on Mercoin, a platform operated by Mercari. This move opens up trading opportunities to over 20 million monthly active users, letting them deal with XRP using existing balances, points, or bank transfers even for small amounts starting at 1 JPY. Mercoin started offering Bitcoin in March 2023 and added Ethereum in May 2024, attracting over three million users in under two years, mainly first-time crypto traders.
#Solana#Ripple News#CME Group news#XRP#Japan
Enrichment Data:
Solana - Technical Analysis
- Current Status: Solana trades at approximately $154.41 (as of April 2025), still a bit shy of the $158.93 resistance level.
- Bearish Indicators:
- SMA Crossovers: The 5-day and 8-day SMAs are below the 13-day SMA, reflecting a bearish sentiment.
- MACD Weakness: The MACD line (-5.16) remains below the signal line (-5.69), showing weakening buying momentum.
- Key Support Levels: Substantial selling pressure might ensue if Solana can't retain the $150 support level. Conversely, reclaiming $160 could boost the price rally.
Solana - Institutional Perspectives
- ETF Anticipation: Solana ETFs could drive SOL towards $1,000, although this remains conjectural.
- FTX Repayments: The impending $800M FTX repayments starting May 30 could introduce temporary liquidity concerns, potentially impacting prices.
- Adoption Factors: Analysts attribute Solana's growth to tech upgrades and DeFi's expansion, with Jake Gagain and Ben Armstrong forecasting the price to reach $450–$500 by late 2025.
Solana - Expert Price Predictions (2025)
| Source | Bull Case | Base Case | Bear Case ||-------------|-----------|-----------|-----------||Pantera Capital| $1,000 | — | — ||CryptoZachLA | $450 | — | — ||Taki Tsaklanos | >$500 | — | — ||Consensus | — | $515 (avg) | $124 |
Solana's short-term technicals appear bearish, but institutional optimism could dominate if adoption gains momentum.
XRP's Potential Implications
April 2025 projections suggest a 11% rally to $140.10 by April 28 if Solana can hold the crucial support at $150. Analysts believe Solana should consolidate between $122–$134 before hitting the macro cycle high target of $675–$1,000 if favorable conditions prevail.
In essence, while Solana faces near-term challenges, it maintains growth potential if institutional interest materializes as anticipated.
- Amid Solana's bounce back and Ripple's positive news, the crypto market shows promising signs of growth, with Solana (SOL) currently trading at $154.41.
- The upcoming XRP futures launch by CME Group, anticipated for May 19, has garnered excitement from Ripple CEO Brad Garlinghouse, who calls it an "important and exciting step" for the XRP market.
- Mercari, Japan's leading resale marketplace, has made XRP more accessible to its 20 million monthly active users, enhancing trading opportunities for the token.
- Solana's short-term technical analysis suggests a bearish sentiment, with the 5-day and 8-day SMAs below the 13-day SMA, and the MACD line showing weakening buying momentum.
- Institutional perspectives indicate that Solana ETFs could drive SOL towards $1,000, but temporary liquidity concerns might arise due to FTX repayments starting May 30.
- Analysts attribute Solana's growth to tech upgrades and DeFi's expansion, forecasting the price to reach $450–$500 by late 2025.
- While Solana faces short-term challenges, institutional interest could drive its growth if adoption gains momentum, potentially reaching the macro cycle high target of $675–$1,000. A rally to $140.10 for XRP is possible by April 28 if Solana holds the crucial support at $150. (Disclaimer: The views and price predictions expressed here are for informational and entertainment purposes only and do not constitute financial advice.)
