LRC price surges 9% after CEO steps down Followin

LRC price surges 9% after CEO steps down

Following Guo’s departure from the protocol, instead of a price dip LRC seems to have risen in value by 9.1%. At press time, it is trading at around $0.09945. This is a sharp contrast compared to when other leadership figures in the crypto community, like the departure of Story Protocol (IP) co-founder Jason Zhao in mid-August, led to their project’s token slipping.

However, the sudden rise gave way to an eventual correction in the cycle by the beginning of September. The token experienced a sharp spike in price toward $0.115 before quickly retracing to the $0.099–$0.100 range. This surge suggests that traders initially reacted to the news with speculative buying, possibly fueled by uncertainty and expectations of new leadership potentially reshaping the project’s direction.

The retracement highlights profit-taking and market caution as investors reassess fundamentals after Steve Guo’s announcement.

LRC’s Relative Strength Index and Moving Average reflected volatility in the charts. The RSI spiked into near-overbought conditions during the rally but has since cooled to around 47, showing that bullish momentum has fizzled out and the asset has moved into neutral territory.

Meanwhile, the price has just slipped below the 30-period moving average of around $0.1005, which indicates the possibility of a potential short-term bearish crossover if the level fails to hold as support.

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