The price of XRP is surging 3.4% today and 2.1% in the past 24 hours as the acting Chairman of the United States Securities and Exchange Commission (SEC), Mark Uyeda, announced the launch of a crypto task force.
Earlier today, XRP was retreating by 3%. However, this first decisive step to support the sector from an agency that has been quite hostile not just to the entire industry but toward Ripple specifically could market the beginning of a new era for this US-based blockchain company.
In a press release published just a few hours ago, the SEC said that they will ensure that the SEC “respects the bounds of the law” moving forward and will adopt a “sensible regulatory path” for the industry.
One of the task force’s primary objectives will be to “draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously”.
Uyeda has appointed Commissioner Hester Peirce as the leader of this group. “We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation,” Peirce commented.
XRP Seems Poised to Retest its All-Time High of $3.4 Soon
Despite a big decline on Sunday ahead of Donald Trump’s inauguration speech, XRP is still one of the best-performing cryptocurrencies of the top 10 with year-to-date gains of 55.2%.
XRP has an important resistance to clear in the next few days if this announcement from the SEC will serve as a catalyst for a new upward push. Last Thursday, the native asset of the Ripple network retested its all-time high of $3.4 as President Trump geared up to be sworn in.
Although the price retraced shortly afterward, this latest announcement marks a pivotal moment for the United States’ regulatory landscape when it comes to the crypto industry and the fact that this press release was published just a day after Trump entered the White House illustrates how serious his administration is about helping this sector thrive.
XRP has made a series of higher lows in the past few days, putting it on a clear uptrend. If the price clears the $3.4 threshold, the odds are favoring the beginning of a new bullish cycle for the digital asset.
The Relative Strength Index (RSI) entered overbought territory last week. If the oscillator posts another reading above the 70 mark this will be evidence that positive momentum is once again accelerating.
As long as the ascending triangle holds, the next target for XRP could be $4 as all the pieces are falling in the right place to help Ripple realize its vision of becoming the world’s leading force in cross-border payments.
This AI Agent Could Outperform Ripple in 2025 Once its Presale Event Ends
The Mind of Pepe ($PEPE) presale is one of the hottest events in the crypto space at the moment, as investors have poured over $2.8 million into the project just a few days after its launch.
AI agents are one of the fastest-growing and most promising segments of the crypto space with clear success cases like the Virtuals Protocols and the AIXBT by Virtuals token already delivering attractive gains since the year started.
Mind of Pepe leverages the power of AI to build robust communities and learns from social trends to provide insights to $MIND holders about the most popular assets in the crypto space.
In addition, the AI agent learns from its interactions with social media users to create tokens that have a high chance of becoming a big success in the meme coin space primarily. $MIND holders get exclusive access to these ideas and can position themselves favorably by buying these assets before they are officially launched.
To buy $MIND, simply head to the Mind of Pepe website and connect your wallet. You can swap ETH, USDT, or BNB for this digital asset and you will receive your tokens right after the presale event ends.
Meme coins were a hit in 2024, but AI agents will be the best-performing segment of the crypto space this year.
