SPX6900 (SPX) price has surged nearly 30% in the last 24 hours, pushing its market cap close to $1.3 billion and solidifying its position as one of the biggest meme coins. This rapid increase has also driven SPX’s RSI to its highest level since January 19, signaling strong buying pressure but approaching overbought territory.

Meanwhile, Smart Money activity shows a net inflow of $35,096, suggesting growing interest from influential traders. Whether SPX continues its uptrend toward $1.8 or faces a correction depends on key resistance and support levels in the coming days.

SPX RSI Rises Without Crossing Overbought Threshold

SPX6900 RSI surged from 43.5 to 66 in just one day following its recent 30% price increase. That surge also placed SPX in the 6th place among the biggest meme coins in the market. The RSI (Relative Strength Index) is a momentum indicator that measures the speed and magnitude of price movements on a scale of 0 to 100.

Readings below 30 indicate an asset is oversold, while levels above 70 suggest it is overbought. A rising RSI reflects increasing bullish momentum, while a declining RSI signals weakening strength or potential price corrections.

SPX6900 RSI is now at 66, its highest level since January 19, signaling strong buying pressure. While it has not yet reached the overbought threshold of 70, it is approaching a level where traders may start watching for potential exhaustion.

If RSI continues rising past 70, SPX price could see further upside but may also become vulnerable to a pullback. However, if RSI stabilizes near this level, it could indicate sustained bullish momentum, allowing the uptrend to continue.

Smart Money Records $35,000 Net Flow in SPX

In the last 24 hours, two Smart Money addresses accumulated SPX, with one purchasing $3,104 and the other buying $52,287. Meanwhile, another Smart Money address sold $20,295 worth of SPX.

Tracking these wallets is crucial because Smart Money refers to institutional or high-net-worth traders with a history of making profitable moves. Their buying or selling activity can provide insights into market sentiment and potential price direction, as they often act ahead of broader retail traders.

The recent Smart Money inflows suggest growing interest in SPX, as the total buying volume exceeded selling volume. While one wallet offloaded SPX, the larger accumulation signals confidence from key players.

If this trend continues, it could indicate increasing demand, supporting SPX price appreciation. However, if selling pressure rises among Smart Money wallets, it could suggest a shift in sentiment, potentially leading to a reversal.

SPX Price Prediction: Will It Test $1.5 Soon?

SPX price chart indicates that its EMA lines are on the verge of forming a golden cross, a bullish signal that could strengthen upward momentum. If this crossover happens, SPX could test resistance at $1.55, and a breakout above this level could push the price toward $1.8.

A golden cross typically suggests a shift in trend, reinforcing buyer confidence and attracting more interest. The next few sessions will be crucial in determining whether SPX price can sustain its recent gains and continue its upward trajectory.

However, if the current hype fades and buying pressure weakens, SPX price could reverse its trend and test support at $1.23.

A break below this level could accelerate selling, potentially dragging the price down to $0.96. If this scenario unfolds, SPX risks losing its spot among top meme coins to FARTCOIN, FLOKI, and WIF.

Fairshake, the pro-crypto super PAC, currently has $116 million to influence elections in the 2026 US midterms. Several major donors who supported this effort during the 2024 elections have redoubled their donations.

At the moment, it doesn’t seem clear which senates will become the highest-priority targets. Since Kamala Harris endorsed crypto and lost, anti-industry sentiment has been much quieter in Congress, but a few opponents remain in power.

Fairshake Stockpiles for the Midterms

Fairshake, the pro-crypto Super PAC, is stockpiling resources for the midterms in 2026. According to a report from CNBC, the group currently has a war chest of $116 million to compete in these races.

Right after Trump won the Presidential election in November, a16z donated $25 million for this purpose, and other donations brought the total to $103 million.

However, more donations are likely. Elections can be very expensive in the current US political environment. In the 2024 cycle, Fairshake spent around $180 million to influence national races, and the midterms will be just as important.

In addition to electing President Trump, Fairshake’s political contributions also helped down-ballot candidates like Bernie Moreno.

“With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation,” Fairshake said in a statement.

Previous Fairshake donors, such as Coinbase, doubled down on their support, building new reserves for the midterms. According to CNBC, several additional big-name supporters like Ripple and Uniswap have provided new contributions for this purpose alone.

However, this does beg one question: who are they going to challenge with this money?

Crypto Industry Holds the Cards in US Elections

In the last Presidential election, Kamala Harris was more reluctant to embrace crypto than Donald Trump, but she eventually ran as a pro-crypto candidate.

Indeed, she even received high-level donor support from influential figures in the space, albeit less than Trump. If the Democrats continue their reconciliation with crypto into the midterms, who will Fairshake target?

There are some candidates that come to mind. First of all, a few outspoken crypto opponents like Senator Elizabeth Warren remain in Congress and continue to rail against Trump’s policies.

Since launching the TRUMP meme coin, several Representatives have called for a probe into possible criminal activity. Fairshake could fund races against these figures in the midterms.

However, there is another possible option. The Republicans have generally coalesced around Trump’s pro-crypto messages, but there are complications.

For example, a few elected officials have vocally supported the industry since the election despite opposing it beforehand. The threat of Fairshake spending could keep the half-hearted converts in line.

Ultimately, the midterms are nearly two years away, and Fairshake will have ample time to prepare. Regardless of which races take the highest priority, the super PAC will be ready to influence them.

Grayscale filed a 19b-4 application to create an XRP ETF. The firm has been petitioning the SEC for several new ETF products in recent weeks, and it’s far from alone in doing so.

The SEC has taken tentative steps at approving an altcoin ETF, but it doesn’t seem to be in a hurry. Trump’s nominee for Chair hasn’t been confirmed yet, and the short-staffed Commission may be playing it safe.

Grayscale’s XRP ETF

Grayscale, the leader in the fight for a Bitcoin ETF, has been offering quite a diverse range of ETF products. After its first listing, it followed up with a Mini Bitcoin ETF and options trading, and currently has live applications for several other crypto products. Today, Grayscale is adding onto this roster, with a new filing for an XRP ETF.

The XRP ETF has been a prominent goal in the crypto community for months, and Grayscale is hardly the first firm to pursue it. Ripple’s CEO Brad Garlinghouse considers the approval “inevitable,” and Polymarket gives the prospect overwhelming odds of success. Still, this hasn’t actually happened yet.

Since Gary Gensler resigned, a huge inflow of ETF applications has reached the SEC. As of yesterday, the Commission made the first steps towards a Litecoin ETF, but there isn’t much other visible progress. Still, ETF analyst James Seyffart urged the community to show some patience regarding its pro-crypto realignment.

“Potentially Hot take: The SEC doesn’t have much of a reason to rush as quickly as possible on this stuff. I personally think they should handle these situations after Atkins is confirmed and in his seat at the SEC,” Seyffart claimed.

Seyffart did not directly respond to Grayscale’s XRP ETF application, but he made these comments less than 15 minutes after noticing the filing. It’s an important rule of thumb to remember, especially considering that the SEC is currently short-staffed.

Ultimately, the XRP ETF seems very likely, but that doesn’t mean Grayscale’s application will go through in the immediate future. For now, the Commission has made a little progress on one altcoin ETF, and will probably do more soon. The price of XRP has barely budged since this application went through, in any event. The community will just have to wait for updates.