Crypto analyst Scott Melker has criticized Volatility Shares' proposal to launch 3x and 5x leveraged XRP ETFs, labeling it the 'worst idea ever.' The firm has filed with the SEC to introduce 27 new leveraged ETFs, including those based on XRP, Ethereum, Bitcoin, and Solana. Melker warns that such leveraged products could amplify the inherent volatility of altcoins, posing significant risks to retail investors. A 10% drop in XRP could lead to a 30-50% loss in these ETFs. Bloomberg's Eric Balchunas highlighted the increased risk of the 5x leveraged versions, which could be available by December 29, 2025, pending SEC approval.