SEC’s ‘Project Crypto’ Sends Shockwaves Through the Market—XRP and SOL Dip as Clarity Looms
- SEC’s “Project Crypto” proposes modern legal frameworks for tokenized assets, decentralized custody, and on-chain trading.
- XRP and SOL both dropped sharply following the announcement, with RSI and MACD signaling short-term bearish momentum.
- Despite long-term regulatory optimism, traders appear to be cashing out, expecting implementation delays and near-term uncertainty.
The SEC just hit the gas on something big. Dubbed “Project Crypto,” this fresh initiative is all about dragging old-school securities laws into the blockchain age. It promises legal on-chain trading, clear rules for tokenized assets, and even a path for decentralized custody—yep, stuff that’s been stuck in the grey area forever.
But while the move feels like a regulatory green light (sort of), not everyone’s cheering yet. In fact, the market’s already flinching.
What’s Project Crypto Actually About?
So here’s the pitch: the SEC wants to ditch the outdated frameworks and build something tailored for crypto from the ground up. That means new rules—real ones—for how tokens launch, how assets get traded, and how custody could work without a bank in the middle.
SEC Chair Paul Atkins didn’t hold back in the announcement either:
“The President said last week he wants the whole world running on American tech. I’m here to help make that happen. That’s why we’re rolling out Project Crypto…”
To help developers breathe easier in the meantime, the SEC’s talking about short-term exemptions, safe harbor protections, and straight-up guidance. That could give projects a legal runway to operate without immediately triggering lawsuits every time they ship code.
They’re also promising clarity on airdrops, staking rewards, and the big elephant—ICOs. Basically, the goal is to finally swap confusion for a playbook. Long overdue? You bet.
XRP Slips Below $3 After Announcement
Now here’s the twist—right after the announcement dropped, XRP’s price didn’t pop. It tanked.
The token fell sharply below $3, dipping as low as $2.89. The hourly chart lit up with a giant red candle, signaling strong selling pressure. This wasn’t panic—it looked more like big holders trimming exposure.
Momentum indicators weren’t pretty either. RSI fell off a cliff into oversold territory, and MACD? Deep in the red, no sign of turning around yet.
Traders had expected XRP might benefit from this whole regulatory clarity thing. But instead, it seems like short-term profit-takers took control, pushing the token down 3.57% in just one session.
Solana Follows Suit, Cracking Below $170
Solana (SOL) didn’t escape the shakeout either. It dropped from $169 to around $166, recovering slightly to hover near $167.30 at last check.
RSI? Brutally low—sitting at 26. OBV? Heading downhill too, which means the selling wasn’t just a blip.
That nasty 08:00 UTC candle says it all. Big money likely exited the trade, dumping into the post-announcement buzz instead of buying the regulatory optimism.
Market Cautiously Optimistic, But Volatility Looms
Across the board, the mood was… jittery. Even though Project Crypto aims to deliver long-term legitimacy, today’s price action was pure “sell the news.” Traders seem spooked about how long it’ll take to implement—and whether enforcement headaches could gum it all up.
Until the dust settles, expect more chop. This could be the start of a new regulatory era, but in the short term? It’s just more fuel for the volatility fire.
The post SEC’s ‘Project Crypto’ Sends Shockwaves Through the Market—XRP and SOL Dip as Clarity Looms first appeared on BlockNews.
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SEC’s ‘Project Crypto’ Sends Shockwaves Through the Market—XRP and SOL Dip as Clarity Looms
- SEC’s “Project Crypto” proposes modern legal frameworks for tokenized assets, decentralized custody, and on-chain trading.
- XRP and SOL both dropped sharply following the announcement, with RSI and MACD signaling short-term bearish momentum.
- Despite long-term regulatory optimism, traders appear to be cashing out, expecting implementation delays and near-term uncertainty.
The SEC just hit the gas on something big. Dubbed “Project Crypto,” this fresh initiative is all about dragging old-school securities laws into the blockchain age. It promises legal on-chain trading, clear rules for tokenized assets, and even a path for decentralized custody—yep, stuff that’s been stuck in the grey area forever.
But while the move feels like a regulatory green light (sort of), not everyone’s cheering yet. In fact, the market’s already flinching.
What’s Project Crypto Actually About?
So here’s the pitch: the SEC wants to ditch the outdated frameworks and build something tailored for crypto from the ground up. That means new rules—real ones—for how tokens launch, how assets get traded, and how custody could work without a bank in the middle.
SEC Chair Paul Atkins didn’t hold back in the announcement either:
“The President said last week he wants the whole world running on American tech. I’m here to help make that happen. That’s why we’re rolling out Project Crypto…”
To help developers breathe easier in the meantime, the SEC’s talking about short-term exemptions, safe harbor protections, and straight-up guidance. That could give projects a legal runway to operate without immediately triggering lawsuits every time they ship code.
They’re also promising clarity on airdrops, staking rewards, and the big elephant—ICOs. Basically, the goal is to finally swap confusion for a playbook. Long overdue? You bet.
XRP Slips Below $3 After Announcement
Now here’s the twist—right after the announcement dropped, XRP’s price didn’t pop. It tanked.
The token fell sharply below $3, dipping as low as $2.89. The hourly chart lit up with a giant red candle, signaling strong selling pressure. This wasn’t panic—it looked more like big holders trimming exposure.
Momentum indicators weren’t pretty either. RSI fell off a cliff into oversold territory, and MACD? Deep in the red, no sign of turning around yet.
Traders had expected XRP might benefit from this whole regulatory clarity thing. But instead, it seems like short-term profit-takers took control, pushing the token down 3.57% in just one session.
Solana Follows Suit, Cracking Below $170
Solana (SOL) didn’t escape the shakeout either. It dropped from $169 to around $166, recovering slightly to hover near $167.30 at last check.
RSI? Brutally low—sitting at 26. OBV? Heading downhill too, which means the selling wasn’t just a blip.
That nasty 08:00 UTC candle says it all. Big money likely exited the trade, dumping into the post-announcement buzz instead of buying the regulatory optimism.
Market Cautiously Optimistic, But Volatility Looms
Across the board, the mood was… jittery. Even though Project Crypto aims to deliver long-term legitimacy, today’s price action was pure “sell the news.” Traders seem spooked about how long it’ll take to implement—and whether enforcement headaches could gum it all up.
Until the dust settles, expect more chop. This could be the start of a new regulatory era, but in the short term? It’s just more fuel for the volatility fire.
The post SEC’s ‘Project Crypto’ Sends Shockwaves Through the Market—XRP and SOL Dip as Clarity Looms first appeared on BlockNews.
Read More