Crypto traders are closely watching Ripple ($XRP) as speculation grows that it might reach $5 in March. That comes amid rumors that Ripple’s lawsuit with the Securities and Exchange Commission (SEC) is nearing a conclusion.
Many investors are also backing Solaxy ($SOLX), one of the few crypto projects thriving in this market downtrend. Let’s analyze whether XRP can reach $5 this March and why Solaxy might see an even stronger pump.
Is a Breakout Rally for XRP in Sight?
Over the years, XRP has attracted huge investor interest because of its core use case in fast, low-cost cross-border payments. It is a major reason traditional financial institutions have partnered with Ripple Labs since 2012.
Despite the uncertainty in the crypto markets right now, XRP has held its position above $2. A settlement with the SEC would likely spark renewed interest, potentially pushing XRP beyond the $2–$3 band where it has been stuck for months.
Popular analyst Ali on X mentioned that if XRP can sidestep a bearish head-and-shoulders formation and break above key resistance, it could target the $5 range.
Also, the growing institutional adoption has been a big reason analysts are backing XRP’s growth. For instance, Franklin Templeton has recently filed for XRP ETFs.
If these ETFs get regulatory approval, they could channel large amounts of capital into XRP. However, many investors are still cautious due to possible delays in the ETF review process.
Even though the U.S. Digital Asset Stockpile includes XRP, the U.S. government has clarified that it won’t expand its altcoin holdings anytime soon. If a favorable legal verdict arrives and ETF approvals move forward, a surge to $5 or more by March 2025 doesn’t seem out of reach.
On the other hand, Ripple’s long-term growth may come from its increasing regulatory approvals. It recently secured Money Transmitter Licenses (MTLs) in New York and Texas, now holding over 55 licenses across the U.S. It’s also worth noting that Ripple holds more than 60 licenses across various jurisdictions globally.
Ripple is also preparing to introduce its own stablecoin, Ripple USD (RLUSD), later this year.
In the meantime, many investors are also backing Solaxy, a new Layer 2 solution for Solana that’s reaching new milestones despite the recent downtrend.
Solana’s First Layer 2 Solution Solaxy Raises $26 Million in Presale
While most of the crypto market was consolidating, Solaxy ($SOLX) attracted new users and raised $26 million in its ICO.
It aims to tackle Solana’s persistent network congestion and slowdowns, which have frustrated users and developers.
Solaxy uses a roll-up tech, bundling multiple off-chain transactions before submitting them to Solana’s mainnet. This approach can significantly reduce the network load, increase transaction speeds, and lower fees.
Moreover, Solaxy’s cross-chain bridge will allow swaps between Solana and other major blockchains. It also plans to integrate Sovereign SDK and offer more developer tooling to ensure that building on Solaxy is as convenient as working directly on Solana.
Occasional network downtime has hurt Solana’s ability to compete with Ethereum. If Solaxy successfully mitigates these issues, it could mirror the growth trajectory of Arbitrum or Optimism.
Popular crypto education channel 99Bitcoins recently highlighted Solaxy’s potential, comparing it to Ethereum’s L2 coins.
The project’s native SOLX token powers on-chain transactions and offers governance rights. Token Holders can also stake SOLX to earn up to 156% in passive rewards.
The post XRP Price Prediction: XRP Can Hit $5 This March, But Solaxy Could Pump Higher appeared first on The Coin Republic.
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