Fresh on-chain data suggests Galaxy Digital may be offloading its Ethereum (ETH) holdings on the Binance exchange. Per the data, the company is pitching its tent with Solana (SOL), stacking up nearly $100 million worth of SOL over two weeks.
Galaxy Digital Withdraws 752,240 SOL From Binance
According to an X post by Lookonchain, Galaxy Digital appears to be losing faith in Ethereum following its on-chain activities. On-chain data reveals that the financial services may have sold a large tranche of ETH in exchange for SOL tokens.
The data indicates that over the last 14 days, Galaxy Digital deposited 65,600 ETH valued at $105 million on Binance. Within the same period, Galaxy Digital withdrew 752,240 SOL tokens in a possible ETH-to-SOL swap.
“It seems that Galaxy Digital is selling ETH and buying SOL,” said Lookonchain. “In the past 2 weeks, Galaxy Digital deposited 65,600 ETH ($105.48M) to Binance and withdrew 752,240 SOL ($98.37M) from Binance.”
The on-chain movement has raised eyebrows given the sheer volume and consistency of transactions over a two-week window. The steady SOL purchases follow Galaxy Digital staking $40 million SOL after reaching a settlement agreement with the NYAG over LUNA sales.
This is not the first time the firm is selling Ethereum, with the company ditching ETH to stack Bitcoin in late 2024. Ethereum price reacted negatively to the reports, shedding 4% and dousing optimism for an ETH rally to $3K.
Ethereum Faces A Torrid Patch As Solana Surges Forward
Galaxy Digital’s on-chain activity comes amid a rough patch for Ethereum in recent weeks. The largest altcoin is trading under $2,000 after an underwhelming Q1, forcing the hand of investors to sell their ETH holdings.
While Galaxy Digital is selling off its ETH, Tron founder Justin Sun is hodling his ETH holdings. Trump-backed WLFI has denied selling its ETH after a wallet linked to the project offloaded over $8 million worth of ETH tokens.
On the flipside, Solana is basking in a red-hot streak of positive on-chain metrics. Over the last 30 days, Solana had the highest number of active wallet addresses by a distance, while transaction volume outclassed its peers.
The combination of rising network activity around Solana is fueling speculation for SOL rise to $2,000. At the moment, SOL is trading at $138.2, slipping by 1.42%, but enthusiasm among traders is at an all-time high.
Bitcoin price has crashed by another 4.5% taking a dip to $80,350 levels as market sentiment turns bearish just ahead of the US CPI data release this week. The overall crypto market crash over the last 24 hours has eroded more than $170 billion of investors’ wealth with market analysts predicting more pain ahead.
Will Bitcoin Price Crash to $75,000?
Bitcoin price has once again come under heavy selling pressure, facing strong rejection at $92,500 and extending weekly losses to more than 11.15%. Popular crypto analyst Ali Martinez noted that over $1 billion in Bitcoin (BTC) long positions were liquidated today. The massive liquidation highlights the intense market volatility currently impacting the cryptocurrency sector.
Source: Ali Martinez
Bitcoin Forms a Bearish Pennant Says Peter Brandt
Veteran trader Peter Brandt has shared a technical analysis suggesting the recent Bitcoin price action confirms a bearish outlook. In the latest chart structure, Brandt has identified three critical technical developments hinting at further downside pressure.
The analysis highlights a double top formation with peaks reaching approximately $108,100, followed by a bearish pennant pattern. According to Brandt, Bitcoin made a “deep retest” of its previous high near $95,321 before breaking down through the pennant formation.
The chart also indicates that Bitcoin price found temporary support at $81,513 following the breakdown, but the completion of the bearish pattern suggests further downside potential. Former BitMEX CEO Arthur Hayes also believes that there could be more pain left ahead for BTC. He wrote:
“An ugly start to the week. Looks like $BTC will retest $78k. If it fails, $75k is next in the crosshairs. There are a lot of options OI struck $70-$75k, if we get into that range it will be violent”.
Will BTC Enter Bear Market After US CPI?
Several market analysts believe that Bitcoin is finally entering a bear market as market sentiment deteriorates despite the launch of the Bitcoin Strategic Reserve. Furthermore, the initiative has revealed an apparent lack of intent to purchase anything beyond seized BTC.
On the other hand, institutional demand for Bitcoin has dried up significantly, as evident by the massive outflows from Bitcoin ETFs. Between March 3 and March 7 (ET), Bitcoin spot exchange-traded funds (ETFs) experienced significant outflows, signaling waning investor sentiment in the market. Data shows a net outflow of $799 million during the period, with Fidelity’s Bitcoin ETF (FBTC) accounting for $201 million of the total.
All eyes will be on the US CPI data for February coming this week, ahead of March 12. February’s U.S. consumer price data is expected to reflect gradual progress in controlling inflation, a key concern for Federal Reserve policymakers. The central bank may opt to maintain a cautious stance, monitoring the broader economic landscape amid evolving fiscal policies.
According to projections, the Consumer Price Index (CPI) excluding food and energy likely increased by 0.3%, as per a Bloomberg survey of economists.
Google has reached a first-of-its-kind agreement with California officials to provide significant funding for local newsrooms and avoid proposed legislation…
In major XRP News Today, Ripple president backs RLUSD and XRP Ledger.
Ripple’s XRP finally neared the long-awaited $3 mark after President Donald Trump
Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election
Also, a number of SEC cases that had cast doubt on the future of leading cryptocurrency companies have been dropped, giving hope for a favorable outcome in the Ripple vs SEC lawsuit. Amid this, Brazil’s securities regulator has approved the first spot XRP ETF, indicating a rising demand from institutions.
After the US SEC acknowledged an XRP ETF filing by Grayscale and the NYSE, top analysts are predicting that the XRP price might hit $10 if it gets approved. Considering all these positive developments, our XRP price prediction will explore the potential answers to questions such as “Will XRP reach $10 in 2025?” by providing short term and long-term Ripple (XRP) price prediction.
Overview
Cryptocurrency
XRP
Token
XRP
Price
$2.46
Market Cap
$141.02 billion
Trading Volume
$14.24 billion
Circulating Supply
57.94 billion XRP
All-time High
$3.84 Jan 04, 2018
All-time Low
$0.002802 Jul 07, 2014
24-hour high
$2.95
24-hour low
$2.43
XRP Price Today
XRP with a price tag of $2.4523 has been trading within a descending triangle, hinting at a potential breakout in the short-term. As per our XRP price analysis, a push above the immediate resistance at $2.5185 could lead to a breakout above the triangle to $2.6068. In contrast, a breakdown may cause a test of $2.2747, and in bearish circumstances, it may also drop to $1.9983. That being said, the ascending channel withi the triangle indicates a modest bullish momentum.
XRP Price Chart 05th March 2025
XRP Price Prediction 2025
A few factors will likely shape XRP’s market performance in 2025. The main factor that will decide XRP’s trend in 2025 is the conclusion of the Ripple vs SEC lawsuit. However, there’s more in store for XRP, as in a recent announcement, U.S. President Donald Trump had mentioned XRP being included in the newly formed U.S. Strategic Crypto Reserve.
Talking about efforts and progress being made at Ripple Team’s end, Monica Long, President at Ripple highlighted that RLUSD stable coin will serve as the basic necessity for the entire Ripple ecosystem. She mentioned how the Ripple blockchain network allows users to tokenize, store, move, and exchange assets. Another major highlight from the discussion was how Ripple’s open source code for the XRP ledger is contributing to the blockchain industry.
If things go in favor of Ripple, XRP price could surge to a maximum of $5.81 by the end of 2025. In contrast, if the lawsuit continues, XRP could remain under a narrow range with a potential low of $2.3. That being said, we can expect an average price of $4.89.
Year
Potential Low
Potential Average
Potential High
2025
$2.3
$4.89
$5.81
Ripple (XRP) Price Prediction 2026 – 2030
Year
Potential Low ($)
Potential Average ($)
Potential High ($)
2026
5.6
6.25
8.64
2027
7.15
8.89
12.25
2028
11.3
14.11
16.53
2029
13.98
16.48
21.12
2030
16.92
19.87
26.97
XRP Price Prediction 2026
XRP price will likely witness a strong growth in 2026. There is a possibility that XRP can break through the $8.64 level and hold the price by the end of 2026. The minimum XRP price will be around $5.6, with an average trading price of $6.25. This could be a result of Ripple’s role in CBDC development and XRP’s rising institutional demand.
XRP Price Prediction 2027
By 2027, market analysts and experts predict that XRP’s price will range between $7.15 to $12.25. XRP price might record an average level of $8.89. The reason behind this surge could be due to Ripple’s increasing domination in the payment sector, accelerating XRP’s buying demand and utility.
XRP Price Prediction 2028
In 2028, Ripple could increase its use cases, including new dApps and announcements regarding XRP. This might boost the dominance of XRP as the second largest altcoin by market cap. We expect the XRP price to range between $11.3 to $16.53. The average trading price could be around $14.11.
XRP Price Prediction 2029
Partnerships with multiple governments and wider adoption might strengthen XRP’s price in 2029. The altcoin might record a trading range between $13.98 to $21.12, with an average price of $16.48.
XRP Price Prediction 2030
The long-term XRP price prediction depends on Ripple’s ability to expand its offerings across the crypto market. If everything remains positive, XRP price could scale between $16.92 to $26.97. With that price range, the average tag could be at $19.87.
