XRP is currently trading at $2.12, staying above the important $2.00 support level. It’s up about 3% in the last 24 hours, showing some positive momentum. The coin tested the support zone again but bounced back, which means buyers are still active and willing to step in.
This bounce suggests the market might be starting to recover from the recent downturn. If the buying pressure continues, the market could soon see a relief rally.
According to analyst Egrag Crypto, XRP is currently forming an Ascending Broadening Wedge pattern, suggesting two possible price targets: a decline to $0.65 or a rise to $17. For a bullish breakout, XRP must first close above $3.50. If it reaches the $5 level but fails to sustain above it, this could signal a higher probability of the pattern playing out. A rejection at $5 would likely lead to a retest of the $1.90 level.
A successful breakout above $5, with a follow-through above $6, could drive XRP toward the $17 target within 2-3 weeks. However, the analysis hints at a 70% likelihood of a downside breakout, potentially pushing the price back to $0.65, with only a 30% chance for the bullish scenario. This pattern is not yet fully formed, and key price levels should be monitored closely for confirmation.
As of March 7, the crypto market is in recovery following weeks of corrections. However, bearish momentum remains strong, keeping most cryptocurrencies near their support levels. The broader market saw significant liquidations as uncertainty persisted. With fears of prolonged declines, analysts warn of potential risks, making it crucial to identify an altcoin to sell before further downturns.
4 Altcoins to Sell Ahead of Trump’s March 7 Crypto Event
Two days to Donald Trump’s first Crypto Summit on March 7 2025, industry leaders, CEOs, and government officials prepare for key discussions.
Market analysts anticipate volatility, with potential price drops for certain altcoins, if regulatory policies or economic outlooks appear unfavorable during the event. Let’s uncover these four altcoins to offload, including TON, SOL, LEO, and TIA.
Toncoin (TON)
Toncoin (TON) struggles as market conditions weaken, facing strong resistance and limited support. The price hovers at $3.00, marking a 1.53% daily increase. However, a 15% weekly decline signals a bearish sentiment.
TON’s market cap has dropped significantly, slipping from the 11th to the 21st position. Traders consider it an altcoin to offload ahead of Trump’s Crypto Summit on March 7, fearing further declines.
BitMart has confirmed the listing of UNUS SED LEO (LEO), set to launch at 20:00 (ET) on March 5. The exchange will open trading for the LEO/USDT pair. LEO serves as the utility token for Bitfinex, the cryptocurrency exchange managed by iFinex.
A unique token burn mechanism ensures that iFinex repurchases LEO monthly. This strategy aims to reduce supply over time. At present, LEO is priced at $9.80, reflecting a 0.36% decline in the past 24 hours.
Solana (SOL)
Solana (SOL) price has been trading with strong volatility, making it an altcoin to sell ahead of Trump’s crypto summit on March 7. The price has dropped 52.08% from its $294 high, now hovering below $150.
An analyst noted that despite rejection, SOL defended the $125 support and is squeezing against the main downtrend resistance. This movement signals potential liquidation as uncertainty builds in the market.
Celestia (TIA)
Celestia (TIA) is trading at $3.30, reflecting a 15% decline over the past week. The token has been on a consistent downtrend in recent months, with its value significantly lower than its all-time high of $20.91 in February 2024.
This decline has placed TIA among the cryptocurrencies facing strong selling pressure. Ahead of the upcoming crypto summit on March 7, analysts highlight TIA as one of the altcoins to offload, citing concerns over potential long-term losses in a weakening market.
Conclusion
With market conditions still uncertain, traders should assess risks and monitor price movements. Selling weak assets before further losses can be a strategic move. Identifying an altcoin to sell before major events like Trump’s crypto summit may help mitigate potential long-term risks in this volatile market.
The U.S. SEC recently approved XRP futures ETF, thus dramatically increasing the odds for a spot XRP ETF soon.
The commission delayed decision-making for the Franklin XRP Fund by another 45 days.
XRP price has signaled bullish sentiment toward $3 bolstered by institutional investors.
Sherry Haywood, an Assistant Secretary for the United States Securities and Exchange Commission (SEC), announced on Tuesday that the agency has delayed the decision making for the proposed rule change to list and trade shares of the Franklin XRP Fund under BZX Rule. According to the filing dated April 29, the commission pushed the next decision making date to June 17, 2025.
Experts Insights on Spot XRP ETF Outlook
According to James Seyffart, an ETF specialist with Bloomberg, the U.S. SEC has until mid-October for the final decision deadline for the spot XRP ETFs. However, Seyffart highlighted that the commission may not take all the time until the fourth quarter to issue final decisions for the spot XRP ETFs.
Moreover, the U.S. SEC approved the first ever XRP futures ETF by ProShares earlier this week, with the launch date anticipated in the near term. Additionally, the Donald Trump administration has remained pro-crypto to bolster the country’s wider economic plan.
Market Impact
Following the announcement, XRP price gained 1 percent to trade about $2.3 on Tuesday, during the mid North American trading session. The large-cap altcoin, with a fully diluted valuation of about $229 billion and a 24 hour average trading volume of about $2.5 billion, has significantly benefited from the wider adoption by institutional investors and global liquidity expansion.
From a technical analysis standpoint, XRP is well-positioned to enter its long-awaited price discovery phase. According to crypto analyst MikyBull, XRP price has successfully retested the support level around $2 and is now ready to rally towards the next target range of between $4 and $6.
The post U.S. SEC Delays Decision-Making on Franklin Templeton’s Spot XRP ETF: What Next? appeared first on Coinpedia Fintech News
The U.S. SEC recently approved XRP futures ETF, thus dramatically increasing the odds for a spot XRP ETF soon. The commission delayed decision-making for the Franklin XRP Fund by another 45 days. XRP price has signaled bullish sentiment toward $3 bolstered by institutional investors. Sherry Haywood, an Assistant Secretary for the United States Securities and …
Justin Sun, the founder of Tron, has made a bold statement about the future price of Ethereum (ETH). He believes the cryptocurrency can hit $5,000 in a couple of months. His comments come just as the Ethereum Foundation prepares for a major global celebration to mark its tenth anniversary.
Justin Sun Shares Big Take on Ethereum
In a recent post on X, Sun noticed an interesting coincidence: His birthday falls on July 30, the exact date Ethereum was launched in 2015.
Using this moment, he tied his message to the Ethereum Foundation’s announcement of a global series of meetups on July 30, 2025. These gatherings will celebrate ten years since the Genesis block of Ethereum was mined.
According to the Foundation, individuals and groups worldwide are encouraged to organize their local meetups. These events can range from casual hangouts to larger, planned gatherings.
It is worth noting that the Ecosystem Support Program will provide financial backing of up to $500 per event to support these efforts. Applications for funding must be submitted by June 15, 2025.
The post from Justin Sun, however, went beyond community events. According to him, he predicted a 10x increase for Ethereum’s price, hinting at a $5,000 target. Though he did not give a specific timeline, his message has since led to positive sentiment among Ethereum community members on X.
The Historic Ties to Ethereum
Ethereum, launched in 2015, introduced smart contracts and has played a central role in developing decentralized applications.
Over the last ten years, it has become one of the most critical projects in the digital asset economy. The upcoming meetups intend to honour this journey, with plans to bring users and developers together in different cities worldwide, as detailed by the network.
It is essential to add that the connection between Justin Sun and Ethereum has long drawn attention from the crypto community. CoinGape previously reported that Tron Founder Justin Sun revealed his plan to HODL ETH despite a drop in its price.
Even with founding a rival platform, he continues to comment on Ethereum’s development.
Ethereum Price and Growth Catalyst
CoinMarketCap data shows that the Ethereum price was trading at $1,769.23, showing a 1.06% drop over the last 24 hours.
While the projection from Justin Sun sounds exciting to some, critics argue that Ethereum still faces issues around scalability, high gas fees, and slow transaction times.
These problems, often pointed out by developers and traders alike, remain hurdles to wide-scale adoption. However, some market participants believe that the upcoming Pectra upgrade will bring new developments to the Ethereum ecosystem.
Crypto (@MikybullCrypto) 
