📉 XRP ETF Odds Plummet: SEC Commissioner Shuts Door on Crypto Dreams 🚪

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Ah, the sweet smell of dashed hopes and dreams-courtesy of none other than the U.S. Securities and Exchange Commission (SEC). The odds of a spot XRP ETF approval have taken a nosedive faster than a turkey on Thanksgiving Day. 🦃 We’re talking an 8% drop to 62%, all thanks to Commissioner Caroline Crenshaw, who seems about as fond of crypto ETFs as cats are of bath time. 🐱💦

But lo and behold! Despite this grim news, XRP’s price is holding steady at $3.05 like a stubborn mule refusing to budge from its favorite patch of grass. 🐴 Bulls are clinging to hope tighter than a miser clings to his last gold coin. Here’s what we know:

  • 24h Volatility: 3.3% 📉
  • Market Cap: $181.42 B 💰
  • 24h Volume: $4.54 B 🏦

XRP ETF Approval Chances Drop Faster Than a Squirrel in a Blender 🐿️

Just a few days ago, Polymarket was painting a rosy picture with approval odds sitting pretty at 86%. But now? Oh, how the mighty have fallen-to a measly 62%. It’s enough to make you want to grab some popcorn and watch the drama unfold. 🍿

XRP ETF approval Odds | Source: Polymarket

Of course, there’s always that glimmer of optimism. Bloomberg ETF strategist Eric Balchunas hinted that September or October might still hold surprises for us. And let’s not forget Ripple partner SBI Holdings filing for a dual Bitcoin-XRP ETF in Japan. Could it be the dawn of international demand? Or just another plot twist in this ever-unfolding saga? 🌅

Crenshaw vs. Crypto: A Lone Wolf Howling Into the Wind 🐺💨

Ah, Commissioner Caroline Crenshaw, the SEC’s very own party pooper. On August 6, she stood alone against 13 internal votes approving various crypto exchange-traded products (ETPs), including IBIT, BITB, GBTC, and more. Her vote? A resounding “Nope!” 🙅‍♀️

As journalist Eleanor Terrett pointed out, Crenshaw isn’t shy about her disdain for crypto ETFs. In fact, she’s practically waving a red flag while shouting, “Not on my watch!” 🚩

Lone Democrat @SECGov commissioner Caroline Crenshaw is sending a clear message: she remains firmly opposed to crypto ETFs.

– Eleanor Terrett (@EleanorTerrett) August 7, 2025

And if you thought her objections stopped at ETFs, think again. She’s also taken issue with broader crypto policies, calling recent SEC guidance on liquid staking “legally weak” and “disconnected from real-world applications.” One wonders if she’d find anything connected to reality even if it bit her. 🦖

So here we are, folks-a tale of hope, despair, and one very determined SEC commissioner. Will the bulls prevail? Or will Crenshaw’s iron grip crush the dreams of crypto enthusiasts everywhere? Stay tuned, dear reader, because this soap opera ain’t over yet. 🎭

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2025-08-07 18:19