XRP is currently trading in the green at $2.22. Market analysts are watching closely, as recent movements have opened up the possibility of further gains. Looking at the 4-day chart, an analyst has said that there are two main possible scenarios for XRP’s price direction:
1. The Yellow Scenario (More Likely)
This scenario shows XRP continuing to rise, possibly reaching a new all-time high before undergoing a major correction. This structure follows a pattern of five waves that started from XRP’s low in 2013. If this plays out, a correction could follow, possibly pulling the price down to $0.40–$0.50, similar to past market behavior.
2. The White Scenario (Alternative)
This scenario shows that the current bull market actually started in 2020, not 2013. XRP is possibly in the final wave of a smaller five-wave move. If true, a smaller but still significant correction could follow, possibly lasting up to a year.
Despite the uncertainty, both scenarios expect another price increase, especially while XRP holds above the key support level of $1.20. If this happens, XRP could rise to $5.60 or even $6.60.
Short-Term Outlook
From a shorter-term perspective, XRP appears to be forming a five-wave move up from its April low. However, the pattern is not yet clear. If XRP stays above $2.12, prices could continue to rise. But if it drops below that level, we may see a correction with support between $1.84 and $2.10.
China has denied any talks between Donald Trump and Xi Jinping regarding tariffs, a development that has again cast more uncertainty amid the ongoing trade war between the two countries. The crypto market sharply dropped following this report, as the tariff war still lingers in the back of market participants.
Crypto Market Reacts As China Denies Talks Between Trump & Xi
The crypto market dropped as the Chinese embassy denied tariff talks between Donald Trump and China’s President, Xi Jinping. The embassy told the US to stop creating confusion, as market participants question where exactly both countries stand on the ongoing trade war.
The Bitcoin price and other altcoins had rebounded following Trump’s TIME Magazine interview in which he stated that he spoke with President Xi Jinping regarding tariffs. However, the market dropped following China’s denial of any talks between the two countries.
It is worth mentioning that this is not the first time China has contradicted statements made by Trump and the US. As CoinGape reported, the US President remarked that they were having active daily talks, which China quickly denied, stating that both countries had made no progress regarding the trade war.
Despite the crypto market surge, led by Bitcoin, which broke above $90,000, market participants are undoubtedly still bothered by the ongoing US-China trade war. At the moment, the US has imposed 145% tariffs on Chinese goods, while China has retaliated by imposing 125% tariffs on US goods.
Despite this setback for the crypto market, Bitcoin and other altcoins look likely to sustain their bullish momentum if the US Dollar continues to weaken, as investors view BTC and Gold as a safe haven.
Experts remain bullish on Bitcoin’s trajectory. Renowned financial author Robert Kiyosaki predicted that the BTC price can still reach between $180,000 and $200,000 this year. Cathie Wood’s Ark Invest also recently released a report, predicting a base case of at least $710,000 per BTC by 2030. The broader crypto market will also rally as BTC reaches these heights.
Solana (SOL) price tumbles as Bitcoin and SUI steal the show this week
Solana (SOL) price fell short of investor expectations this week as capital inflows favored market leaders Bitcoin and emerging altcoins like SUI.
The global crypto market trended bullish on Friday, with Bitcoin price gaining 0.3% on Friday and 2.1% over seven days.
Meanwhile, Solana slipped 1.7% on the day and a steeper 1.9% over the week.
Top 10 Cryptocurrencies Performance, May 2, 2025 | Source: Coingecko
The figures suggest a noticeable exit of short-term traders from SOL, as they rotated funds into assets with stronger short-term narratives.
A major catalyst driving Bitcoin’s rise continues to be institutional accumulation, with spot Bitcoin ETFs posting record-breaking inflows.
Meanwhile, SUI surged following news that 21Shares filed for a spot ETF with the U.S. SEC. SUI spiked to $3.71 on Thursday before correcting to $3.40 at press time, still up nearly 60% in the past two weeks.
This stark contrast reflects a pattern of selective capital rotation among traders seeking profitable opportunities within short-term market narratives.
SOL price fell below $150 on Friday, flipping negative on the weekly candle and highlighting a lack of short-term bullish conviction.
Solana investor Eric Trump warns banks to adopt crypto within 10 years
Adding to Solana’s long-term narrative, Eric Trump, a known investor in Bitcoin, Ethereum, Solana, and SUI, made headlines this week with a stark warning to traditional financial institutions.
In an interview with CNBC, Trump cautioned that banks risk extinction within a decade if they fail to integrate cryptocurrency infrastructure into their core operations.
Systems like SWIFT are a disaster. The traditional banking system is slow and inefficient.
Right now, you can open a cryptocurrency app and transfer money from wallet to wallet instantly, without any bank fees.
I’m telling you if banks don’t realise what’s coming they will be gone in 10 years – Eric Trump, May 2025
Trump remarked, criticizing the inefficiency and cost of the existing financial system.
He argued that decentralized finance (DeFi), enabled by blockchain platforms like Ethereum and Solana, presents a far superior alternative in speed, accessibility, and cost-effectiveness.
The timing of Eric Trump’s statements is crucial, with Congress fast-tracking Stablecoin regulations and SEC dropping charges on crypto trading platform, an Arizona state passing a bill to launch the first cryptocurrencies strategic reserve. and institutional adoption deepens, tokens like Solana could see renewed long-term demand.
This long-term bullish outlook as seen Solana bulls speculate on a potential rally toward the $750 mark if market conditions align.
While this ambitious Solana price forecast remains plausible, technical indicators SOLUSD daily chart shows highlights key hurdles ahead around the $160 mark.
Solana Price Forecast Today: Bulls Target $156 If Support Holds Above $142
Solana (SOL) is trading at $147.98 after a modest 1.9% decline, but the broader technical setup continues to favor a bullish continuation. The price remains comfortably above the midline of the Bollinger Bands, suggesting that recent consolidation may be a temporary pause rather than a reversal.
The Parabolic SAR indicators, positioned below current price levels since mid-April, continue to signal a sustained uptrend, despite Thursday’s slight retracement.
Solana Price Forecast Today
SOL price forecast today leans cautiously optimistic, supported by underlying momentum shown in the Bull Bear Power (BBP) oscillator, which remains positive at 8.13. This indicates that bulls still hold the short-term advantage.
The daily close remains above the 20-day moving average near $142 and well above the lower Bollinger Band at $124.77, reinforcing the view that key support zones are intact.
The resistance zone around $156, marked by the upper Bollinger Band and previous local highs, represents the next test for buyers. If bullish volume resumes and price action closes decisively above $150, a retest of $156 appears likely. A failure to hold $142, however, could expose downside risk toward $135.
