Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram Tiktok
Voice of Crypto
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
Reading: US Lawmaker’s Push to Fire SEC Chairperson Sparks XRP Price Action
Share
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Blockchain
  • VOC Explained
Reading: US Lawmaker’s Push to Fire SEC Chairperson Sparks XRP Price Action
Share
  • bitcoinBitcoin(BTC)$27,924.00
  • ethereumEthereum(ETH)$1,911.61
  • tetherTether(USDT)$1.00
  • binancecoinBNB(BNB)$312.94
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.50
  • cardanoCardano(ADA)$0.380631
  • staked-etherLido Staked Ether(STETH)$1,910.44
  • dogecoinDogecoin(DOGE)$0.072958
  • matic-networkPolygon(MATIC)$0.91
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Blockchain
  • VOC Explained
Search
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > Analysis > US Lawmaker’s Push to Fire SEC Chairperson Sparks XRP Price Action
AnalysisNews

US Lawmaker’s Push to Fire SEC Chairperson Sparks XRP Price Action

Dhirendra Chandra Das
Last updated: 2023/04/18 at 9:53 PM
Dhirendra Chandra Das  - Founder Published April 18, 2023 April 18, 2023
Share
XRP ripple price SEC

Passing comment on SEC’s over-reach Representative Warren Davidson of the US House of Representatives has commented that he would bring a bill to fire SEC Chair, Gary Gensler.

Contents
US Lawmaker Wants To Fire The SEC ChiefIncrease in XRP Trading Volumes by 8.55%XRP Price AnalysisTarget and Stoploss

Also, in the last 24 hours, the XRP price has increased by 1.4%, and trading volumes are alsohigh at 8.55%.

Let us analyze the impact of these developments along with a price analysis of XRP.

US Lawmaker Wants To Fire The SEC Chief

Yep. To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive Director that reports to the Board (where authority resides). Former Chairs of the SEC are ineligible. https://t.co/VBnkgt8bhM

- Advertisement -

— Warren Davidson 🇺🇸 (@WarrenDavidson) April 16, 2023

US Congress Representative Warren Davidson has said in a Tweet that he is going to correct a long series of mistakes through legislation that would fire the current SEC Chairperson Gary Gensler. Davidson said this in reply to Paul Grewal, Chief Legal Officer at Coinbase. Paul has been vocal recently in his support for XRP despite Coinbase having delisted the cryptocurrency.

Davidson agreed with Paul’s view that rather than amending rules to accommodate new-age entrepreneurs, the SEC has been acting to threaten them by forcing them to register when there exists no legal framework to do so.

- Advertisement -

If fired, this would give a big setback for the SEC which has been pursuing cases against Ripple(XRP) and Tron.

Increase in XRP Trading Volumes by 8.55%

In the last 24 hours, though, XRP has only witnessed a gain of  1.55%; its trading volume has increased by 8.55% signalling upcoming bullishness. Trading volume is often considered a leading indicator of price movement. A gain in trading volume means more people are getting interested in buying a financial asset.

However, the growth or decline in volume alone cannot indicate the direction of price movement. The direction can be judged by using indicators and technical analysis.

XRP Price Analysis

XRP Daily Charts as on April 18, 2023

- Advertisement -

In technical charts (daily charts), XRP is very close to breaking a major resistance near $0.54. If it crosses this level, the cryptocurrency could initiate a fresh bull run toward $0.86, a 60% gain.

Technical indicators show that:

  1. XRP price is in a small bullish trend which started 15 days prior on April 3, 2023.
  2. RSI is at moderate levels but shows no sign of strength.
  3. MACD has shown a negative crossover.
  4. Trading volumes are increasing but are way less than their previous month’s volumes.

Looking at 4-hour charts, the price is stuck between a narrow channel, between $0.50 and $0.53. The price must break above these levels, or else, if we trade, it will just trigger our stop loss.

Target and Stoploss

For the current situation, it’s best to wait for the price of $0.54 before making any move. After $0.54 is taken out in daily charts:

Target: $0.86

Stoploss: $0.50

Disclaimer: Voice Of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

You Might Also Like

Bitcoin Miners Face Trouble as BTC Price Plunges Further

Weekly Crypto Update: BTC, ETH, XRP, DOGE, MATIC

5 Top Cryptocurrencies To Watch this Week: MATIC, ARB, CAKE, INJ, RNDR

10 Top Cryptocurrency Exchanges in the USA

Litecoin (LTC): Price Prediction 2023-end

TAGGED: Crypto, SEC, XRP
Share This Article
Facebook Twitter Email Copy Link Print
By Dhirendra Chandra Das Founder
Follow:
I am Dhirendra. Finance and Technology are my favorite topics. When I am not dealing with Finance or Technology, I run a marketing agency, Das Marketing, that specializes in lead generation using Artificial Intelligence.
Previous Article series SwissBorg Raises over €20M with Revolutionary Community-Centric Fundraising
Next Article Bitcoin mining United States Mined in America: A State-by-State Guide to Bitcoin Mining in the US
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
techcircus
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Bitcoin price BTC VOC
Bitcoin Miners Face Trouble as BTC Price Plunges Further
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram Tiktok
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Legal

  • Global Events
  • Advertise With Us
  • Privacy Policy

Know Us

  • About Us
  • VOC Team
  • VOC Vigilantes
  • Brands Who Trust Us
  • Contact Us
Copyright © 2023 Voice of Crypto. All Rights Reserved
Welcome Back!

Sign in to your account

Lost your password?