XRP Price Surges 15% Amid SEC Chair's Resignation Hints

The XRP price has spiked 15% to $0.81 in the past 24 hours, reaching a trading volume of $11 billion, a 78% increase. This rise coincides with United States Securities and Exchange Commission (SEC) Chair Gary Gensler's remarks at the PLI's 56th Annual Institute on Securities Regulation, where he hinted at a potential departure.

Gensler's Remarks on Crypto

Gensler addressed various SEC topics, including U.S. capital markets, corporate governance, and disclosure rules. He emphasized that Bitcoin is not a security, stating, "Not every asset is a security. Former Chairman Clayton and I have both said that Bitcoin is not a security, and the Commission has never treated Bitcoin as a security."

XRP Price Analysis

The XRP/USD chart shows a strong bullish trend, with XRP experiencing a significant upward price movement. This rally has pushed the price well above previous resistance levels, accompanied by high trading volume indicating strong buying interest.

Technical indicators suggest XRP may continue its upward trajectory. The Relative Strength Index (RSI) is at 87, indicating overbought territory, but also confirming strong buying pressure. The Moving Average Convergence Divergence (MACD) line is well above the signal line, indicating positive momentum.

However, the RSI's overbought status and the large gap between the MACD and signal line suggest that a pullback or consolidation may occur soon.

XRP Price Prediction

The XRP price analysis indicates a sustained bullish trend. If this continues, XRP may reach the $1.0 level in the short term. However, the overbought status and potential overextension suggest caution.

New Meme Coin Opportunity

As the XRP price soars, investors seeking new opportunities may consider Flockerz (FLOCK), a meme coin currently in its presale. FLOCK has raised over $1.85 million and offers a massive annual percentage yield (APY) of 1,048%.

Flockerz is powered by a unique Vote-to-Earn (V2E) mechanism, allowing holders to earn additional tokens by participating in decision-making processes. The project is governed by a decentralized autonomous organization (DAO), empowering holders to influence critical decisions such as protocol changes and investment strategies.

Interested investors can purchase FLOCK tokens on the official Flockerz website using BNB, ETH, USDT, or a bank card.