SEC’s ETF Shockwave Erases $20 Billion from XRP in Single Day—Here’s Why It Matters

The crypto market got whiplash as XRP's valuation cratered overnight. Regulatory headwinds just turned hurricane-force.

SEC's surprise ETF rejection triggers panic sell-off

Market watchers saw it coming—just not this fast. The SEC's abrupt dismissal of XRP-backed ETF proposals sent shockwaves through trading desks worldwide. Result? A brutal $20B evaporation from XRP's market cap before the bloodletting slowed.

Institutional players bailed first. Retail traders—as usual—got left holding the bag while hedge funds shorted the chaos. Classic Wall Street playbook meets crypto volatility.

This isn't just about one altcoin's bad day. The SEC's move signals broader regulatory frost toward crypto ETFs—bad news for an industry begging for mainstream legitimacy. But hey, at least the commission finally made a decision that didn't take three years.