XRP, one of the largest cryptocurrencies by market cap, has been hit by a wave of fake news.
A fake XRP application filed in Delaware on behalf of BlackRock, the world’s largest asset management company, surged 15 percent. As news quickly spread on social media that BlackRock had filed, the price soared. XRP, which previously traded at $0.65, reached $0.75.
It soon became clear that the application was fake. A BlackRock official announced that they had made no such application.
With the official statement, XRP dropped back to $0.64.
As per the procedure, BlackRock registers the concerned fund in Delaware before applying for a spot ETF with the US Securities and Exchange Commission (SEC). The company has previously done this for both Bitcoin and Ether. BlackRock then filed separate spot ETF applications for both assets.
If the registration for XRP in Delaware was correct, it would mean that BlackRock would be applying for an XRP ETF.
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