Potential impact of SEC’s Project Crypto on XRP and SOL prices

Key Points

1. The SEC's 'Project Crypto' proposes legal frameworks for on-chain trading, tokenized assets, and decentralized custody, moving away from a cautious regulatory approach.

2. XRP's price fell below $3 after the announcement, with technical indicators like RSI and MACD showing strong bearish signals.

3. SOL also declined sharply, dropping from $169.34 to $166.13, with RSI indicating oversold conditions.

4. The broader market followed a similar downward trend despite expectations that regulatory clarity would benefit cryptocurrencies.

5. Project Crypto seeks to replace regulatory ambiguity with a transparent, rule-based framework to support blockchain innovation in the U.S.