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The U.S. Securities and Exchange Commission (SEC) Chair Paul S. Atkins has announced the introduction of the Crypto Market Structure Bill, aiming to enhance oversight in the cryptocurrency sector. The proposed legislation seeks to improve trading transparency, curb market manipulation, and bolster investor protection. This move could mark a shift in the SEC's strategy from reactive enforcement to proactive rule-making.In related news, XRP's on-chain metrics suggest a potential market bottom. Data indicates that short-term holders are capitulating, with the Short-Term Holder Net Unrealized Profit/Loss (NUPL) nearing capitulation levels and the Network Value to Transactions (NVT) ratio reaching a five-month low. These signals may point to XRP being undervalued, hinting at a possible price rebound.

XRP+0.67%

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