The XRP price has dropped 4% in the last 24 hours to trade at $2.3 as of 4:28 a.m. EST on a 60% surge in daily trading volume to $3.14 billion

The price drop comes as the CME Group launches XRP futures on its platform, the Chicago Mercantile Exchange, today.

The price of XRP has dropped 4% in the last 24 hours to trade at $2.3 as of 4:28 a.m. EST on Friday morning. The drop in price comes as the CME Group launches XRP futures on its platform, the Chicago Mercantile Exchange, today.

The CME group is a big player in the futures game, and its stamp of approval adds significant credibility to XRP. Futures contracts let traders bet on XRP’s price without holding the token, which can pump liquidity and draw in whale investors.

The 1-day XRP price chart shows that XRP is currently at $2.3039, down about 4.5% on the day. Nevertheless, the chart shows potential for a price bounce.

After breaking out around early May, XRP is currently trending outside a falling wedge, a pattern that often leads to a big move. The price hit a high of $2.64 after the breakout before it began correcting. This pullback is healthy, as it’s part of a breakout-and-retest pattern, which is necessary for confirmation of a bullish trend.

At $2.3, the XRP price needs to drop a little further to test the upper resistance line, which is around $2.12, before a potential bounce higher.

Source: Tradingview

The chart marks key levels to watch. If the price of XRP breaks above $2.64 (the previous high), the next stop could be $3.39 (the previous ATH). Beyond that, it could rise to $4.17, which marks a 67.83% pump from here.

On the flip side, if the Ripple token price cracks below $2.28 support (which aligns with the 0.382 Fibonacci retracement level), investors might see a drop to $2.12, or worse, $1.94 (0.5 Fib level). This will invalidate the current bullish thesis, turning this breakout into a fakeout.

The relative strength index (RSI) at 49.08 is neutral, so there are no overbought or oversold signals yet. However, the indicator is pointing downward, which indicates that selling momentum on XRP may be increasing.

Liquidation data from Coinglass shows more cumulative short liquidation leverage ($120.64 million) than longs ($58.44 million) over the last 24 hours. This imbalance suggests that traders anticipate the XRP price may drop further in the future. The XRP price action on the charts supports this sentiment.

However, with CME’s futures launch adding fuel to the fire, XRP could be gearing up for a Chad-level bounce after completing the current retest.

Meanwhile, investors are flocking to the presale for the new Solana presale project Solaxy (SOLX). Crypto YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 10X after launch.

Solaxy is a pioneering Layer-2 scaling solution for the Solana blockchain, whose blockbuster presale has exceeded $37.7 million in funding, signaling strong confidence from investors.

Although fast and cheap, Solana’s mainnet faces growing pains. Up to 50% of non-voting transactions fail during peak periods due to meme coin frenzies and bot activity.

Solaxy tackles these issues head-on by processing transactions off-chain using rollup technology, bundling them, and settling them on Solana’s mainnet. This approach promises faster, cheaper, and more reliable transactions, positioning Solaxy as a critical upgrade for Solana’s ecosystem.

Mark your calendars and get ready to expand your crypto portfolio. 🗓️ CME Group will launch CFTC-regulated XRP futures on Friday, May 19 at the Chicago Mercantile Exchange.

Trade your market view with confidence in larger- and micro-sized contracts.

Get the details: https://t.co/QKapp7sxi6#CMEGroup #XRPfutures pic.twitter.com/Xnys8py1Du— CME Group (@CMEGroup) May 13, 2025

The project’s native token, SOLX, powers the network’s transactions, governance, and staking. The token is currently priced at $0.001728 and investors can join the presale via the official Solaxy website using ETH, BNB, USDT, or cards.

The project has now placed a timer on its website, indicating investors have only about 28 days left to join one of the most successful presales of the year.

Visit the Solaxy website.