An independent crypto analyst is calling out what she describes as “an incredibly misleading” headline after a smaller crypto news site tied a 6% drop in XRP to WisdomTree’s withdrawal of its spot XRP ETF registration.
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In a recent video, Wendy O urges viewers to fact-check market narratives, arguing that the XRP move was part of a broader market sell-off rather than a reaction to a single ETF filing.
ETF Withdrawal Sparks Misleading Narrative
The flashpoint is WisdomTree’s decision to withdraw its S-1 registration for a spot XRP ETF. One outlet framed the story as “XRP dumped 6% on the news,” implying a direct cause-and-effect. The analyst disputes that, saying the XRP price action on the day was largely correlated with a wider crypto draw-down of roughly 10% across all major assets.
Crypto Wendy stresses that ETF applicants pull or amend filings for many reasons and that such withdrawals are “pretty common,” not necessarily a negative verdict on the underlying asset.
More importantly, she notes that several other spot XRP ETF proposals remain active, including applications from Grayscale, 21Shares, Bitwise, Canary, CoinShares and Franklin Templeton, which are still under review by regulators.
Ripple’s IPO Ambitions On Hold, Not Dead
The video also addresses resurfaced headlines from Bloomberg that Ripple has no immediate plans to pursue an IPO. The commentator frames this as recycled crypto news rather than a fresh setback and argues that growing privately is not inherently bearish for the company or XRP.
She points to Ripple’s $500 million raise at a $40 billion valuation in November, with participation from names like Citadel Fortress and other crypto-focused funds.
Those funds are being channeled into integrating recent acquisitions and expanding the business rather than rushing to public markets — a cautious stance they link to Ripple’s bruising legal battles with the U.S. Securities and Exchange Commission.
TradFi Integration & XRP’s Volatility Edge
One of Ripple’s latest moves is the acquisition of Solvexa via Ripple’s corporate treasury management partner GT Treasury. According to the video, Solvexa’s technology is expected to enhance reconciliation and regulatory reporting automation, making processes “more accurate and audit-ready” and deepening Ripple’s footprint in the bridge between TradFi and crypto.
On price, Crypto Wendy doesn’t promise a breakout but suggests XRP “does have the ability to outperform Bitcoin” in the next cycle, not because of problems with BTC but due to altcoins’ higher volatility and smaller market caps. She cites CNBC describing XRP as “the hottest crypto trade this year and one of the top performing cryptos” and note that institutions are drawn in part by XRP’s sizable retail base.
The takeaway for investors: separating market-wide risk-off moves from asset-specific news is critical, especially around ETF headlines and IPO chatter. With multiple XRP ETF filings still alive and Ripple continuing to build privately and acquire infrastructure players, the story is more nuanced than a single withdrawn registration or a delayed IPO might suggest.
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The analyst argues no, saying the XRP price move tracked a broader market decline of 10%, and that the headline linking the drop directly to the filing was misleading.
Not according to the video. While WisdomTree pulled its S-1, filings from Grayscale, 21Shares, Bitwise, Canary, CoinShares and Franklin Templeton are still pending.
Wendy O suggests Ripple Labs has “no plans to IPO” in the near term but is continuing to grow privately after raising $500 million at a $40 billion valuation.
Through acquisitions like Solvexa, which, via GT Treasury, aims to improve reconciliation, compliance and reporting for corporate treasury and TradFi–crypto flows.
