XRP wipes out massive $20 billion in a day after bizarre SEC ETF decision
XRP's market capitalization has plunged by almost $20 billion amid rising regulatory uncertainty and broad market turbulence.
finbold.com
XRP’s market cap just took a nosedive, shedding around $18.4 billion in 24 hours as its price tumbled nearly 10% to $3.21. A crazy liquidation imbalance—$37.85 million of long positions blown up versus just $360,000 in shorts—sparked forced selling, laying bare how overleveraged bullish bets made XRP extra-sensitive to any sell-off.
The real shocker? The SEC abruptly hit pause on converting Bitwise’s 10 Crypto Index Fund into an ETF (which would’ve included XRP) mere hours after granting initial approval. Analysts like Nate Geraci are calling the about-face “bizarre,” and spot XRP ETFs now look stuck in limbo until the SEC finalizes its listing framework—maybe as late as late 2025. Still, Polymarket traders give an 85% chance XRP’s spot ETF will clear the finish line by year-end 2025.
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