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The XRP price surged 7% in the last 24 hours to trade at $1.490 as of 2:25 a.m. EST on trading volume that plunged 17% to $7.5 billion.
This comes as Former US Securities and Exchange Commission (SEC) Commissioner Paul Atkins is reportedly the top contender to chair the agency under President-elect Donald Trump’s administration.
Known for his pro-innovation stance and crypto expertise, Atkins is seen as capable of restoring the SEC to its “gold standard,” according to financial reporter Eleanor Terrett.
🚨NEW: Former SEC commissioner Paul Atkins is said to still be the favorite among top transition team members to lead the @SECGov, according to two sources close to discussions at Mar-a-Lago. @FoxBusiness, @CGasparino reported earlier this week that Atkins was in the lead for the…
— Eleanor Terrett (@EleanorTerrett) November 27, 2024
Atkins’ potential appointment coincides with speculation that Trump’s administration might transfer cryptocurrency regulatory oversight from the SEC. This shift could mark a significant policy change with far-reaching implications for the crypto industry.
XRP Price Aims For A Breakout
The XRP price has been on an uptrend in November, after experiencing what looks like a parabolic curve. However, the price has encountered some resistance around $1.6, which has allowed XRP to trade within this range, and in a consolidation phase, according to data from GeckoTerminal.
Despite the rally cooling off, the XRP price now trades well above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart, which shows that the bulls could still take charge of the price.
Meanwhile, the Relative Strength Index (RSI) is at 57.89, which is in the neutral zone but leaning toward bullish. The RSI has cooled off from overbought levels seen earlier in the rally, suggesting that the market is consolidating rather than experiencing a strong bearish reversal.
The Moving Average Convergence Divergence (MACD) blue line is crossing above the orange signal line, which is a sign of a bullish crossover.
If the bulls push the price of XRP up to breach the current consolidation zone, XRP could surge even higher, as the Ripple tokens aims for prices above $1.80.
Conversely, if the bears take charge of the price at this level, the price of XRP could plunge, with the previous support at $1.15 acting as the next cushion against downward pressure.
Meanwhile, as the Ripple token aims for a breakout, investors are rushing to buy the newly launched meme coin Catslap (SLAP), which soared 2,000% after its listing less than a week ago.
According to ClayBro, a prominent crypto analyst with over 131K subscribers, Catslap could be the next meme coin to surge 50X.
Catslap Meme Coin – The Best Crypto To Buy Now?
Catslap has emerged as a standout project, surging an impressive 2,000% since its launch. This token, introduced on the Ethereum network, boasts a market cap of approximately $20 million and locked liquidity of $1.9 million.
The project aims to bridge the market gap between $30 million and $100 million cat-themed tokens. Catslap does this by combining addictive gameplay with crypto innovation through its interactive “Slapometer” feature.
New $SLAP ATH & Gary Gensler is stepping down. Send it to the moon 😻 pic.twitter.com/PzaPD8fdn7
— CatSlap (@CatSlapToken) November 21, 2024
Currently, SLAP is priced at $0.002284, with a 24-hour trading volume of $811,000, according to Coingecko. Its marketing strategy is impressive, with a surge in followers and engagement on its social media platforms, hinting at a strong community-building effort.
Catslap appears well-positioned to follow the success of cat-themed token rivals like POPCAT, MEW, and MOG.
Its “Hot Token” status on Best Wallet, a fast-growing crypto wallet, connects it to over 60,000 users, boosting visibility and momentum.
Catslap’s staking feature offers a sustainable 40% return, and its interactive, ‘memeable’ gameplay adds to its appeal. The game has already garnered significant attention, with millions of ‘slaps’ recorded, showcasing its potential for viral growth.
We be cooking. Staking now live, all website buys will be staked for 7 days at 40% APY. Early unlock by burning 🔥🔥 pic.twitter.com/ZIUK9pd3sZ
— CatSlap (@CatSlapToken) November 21, 2024
You can purchase SLAP from its official website. Buy before what the team says will be a major announcement in just 7 days.
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