🚨 SEC Shocks the Market – XRP ETF Dreams Crushed 💥
In a surprising U-turn, the SEC has withdrawn its approval for a highly anticipated multi-crypto spot ETF that included XRP, Solana, and Cardano — blaming it on an “administrative error.”
🔍 What This Means:
This ETF was seen as a game-changer — blending major altcoins and Bitcoin into a single, regulated product. But with the plug pulled, the market’s hopes for an altcoin-led rally have been dashed… for now.
📉 Market Reaction:
XRP plunged 10%
Cardano (ADA) down 8%
Solana (SOL) slipped 6.5%
Over $800M in longs liquidated — mostly altcoin positions
🔥 The Altseason narrative just took a brutal hit. Confidence is shaken, and uncertainty is back on the table.
Is this just a temporary setback… or the start of something bigger?