On April 13, 2025, the Mantra OM token suffered a 90% crash, dropping from 6.35 USD to 0.37 USD, and its market cap fell to 683 million USD. CEO John Patrick Mullin linked the decline to reckless liquidations, while conspiracy theories emerged amid a drop in investor trust.
In contrast, XRP is now seen as a frontrunner for ETF approval, leading with 10 applications as major firms submit proposals. Teucrium launched a 2x leveraged ETF for XRP, XXRP, which garnered over 5 million USD in trading volume on its opening day.
The sentiment in the crypto market remains polarized due to the contrasting signals from Mantra’s OM crash and XRP’s potential ETF success. Investors are reassessing their positions as they await upcoming decisions from the SEC, aiming for stability in the volatile market.
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