XRP is trading at $2.40, showing signs of a potential short-term rebound as the SEC indicates a move towards proactive crypto regulation. The cryptocurrency is currently consolidating between support at $2.358 and resistance at $2.48, with analysts suggesting a breakout could lead to a broader market reversal. SEC Chair Gary Gensler has proposed modernizing securities laws to provide clearer regulatory guidelines for digital assets. This initiative aims to balance fostering innovation in the crypto space while ensuring investor protection, potentially impacting market dynamics for XRP and other cryptocurrencies.