SEC Project Crypto Dey Cause Selloff for XRP & SOL
SEC Project Crypto wan update US blockchain rules wit transparant framework for on-chain trading, tokenized assets, an decentralized custody. Di plan get exemptions, safe harbors, an clear guidance on ICO dem, token launches, airdrops, an staking rewards. Traders dem react wit caution. XRP price drop over 3.5% go $2.89 for heavy volume as RSI hit oversold an MACD turn bearish. Solana (SOL) fall from $169.34 go $166.13, wit RSI near 27 an on-balance volume dey decline. Di selloff show say traders dey take profit an dem dey uncertain about enforcement timelines under SEC Project Crypto. Short-term volatility fit happen as market players dey try understand di scope an timeline of di new rules. For medium term, clear regulatory guidance fit improve market stability an drive growth for blockchain-based capital markets.
Bearish
The announcement wey SEC Project Crypto drop make traders start dey cash out and e make dem no wan risk for XRP and SOL markets, e cause sharp selloffs plus markets dey show oversold technical signals. Traders still dey cautious because enforcement and timeline never clear, so e dey push short-term bearish pressure. Even though long-term regulatory clarity fit stabilize markets, the current price action show say outlook no too good for these tokens.