A major market player has made waves by opening a significant $17.6 million short position in XRP with a daring 20x leverage. The timing of this move is closely aligned with anticipated decisions from the U.S. Securities and Exchange Commission (SEC) regarding spot exchange-traded funds (ETFs), which many speculate might soon receive approval. The investor took this step when XRP was trading near its liquidation threshold of $2.91, marking a calculated gamble as the market eagerly awaits regulatory news.