Why Is Crypto Crashing Today? SEC Just Pulled the Plug on XRP, SOL & ADA ETFs!

📉 What’s Going On?

In a shocking reversal, the U.S. SEC has withdrawn its earlier approval for a highly anticipated multi-crypto spot ETF that included $XRP, $SOL, and $ADA. The agency cited “administrative errors” as the reason behind the sudden decision, leaving investors confused and frustrated.

Key Prices at the Time of Announcement:

SOL: $189.29 (-0.33%)

ADA: $0.8229 (+0.46%)

This ETF was expected to be a game-changer—the first to offer exposure to major altcoins alongside Bitcoin. But with the launch now indefinitely paused, optimism has turned into panic.

💥 Market Fallout:

XRP plunged 10%, SOL dropped 6.5%, and ADA slid 8%.

Liquidations surged past $800 million, mostly affecting long positions in altcoins.

Hopes for a full-blown altseason have taken a major hit, with ETF inflows no longer driving short-term bullish sentiment.

This latest SEC move raises fresh concerns about regulatory unpredictability in the U.S. crypto space.

🔻 #SECvsCrypto

🔻 #AltcoinCrash

🔻 #CryptoNews