YEREVAN (CoinChapter.com) — XRP price jumped 15% and lost all the gains within an hour thanks to a rumor about BlackRock’s spot ETF filing of the token. As of 08:00 UTC, the XRP/USD exchange rate was $0.66.
BlackRock Filed for XRP ETF!!! Wait a second…
It all began with the seemingly groundbreaking news that BlackRock, the world’s largest asset management firm, was purportedly dabbling in the Ripple XRP ETF game.
Investors, smelling opportunity, leaped onto the XRP bandwagon with the enthusiasm of kids at a candy store. Was the analyst who predicted an 800% growth for XRP right?? But the DL News editor soon reported the BlackRock XRP ETF news was fake, citing an email from the financial giant. However, no such email was attached, which the commenters quickly noticed.
What’s more intriguing is the chain of events that unfolded.
The initial report on the Delaware Department of State, Division of Corporations website listed a supposed BlackRock employee who had recently been named in a filing for an iShares Ethereum Trust. Talk about being in two places at once! Notably, the filing is still there as of 08:00 UTC on Nov 14.
Calm Down, No Xrp Etfs Just Yet….
However, things turned for the bizarre when experts and enthusiasts started scratching their heads, wondering why BlackRock would suddenly jump into the Ripple pool without any floaties.
A sh*tstorm followed, where crypto news outlets backpedaled faster than a crab in a tango contest, deleting posts and issuing apologies. The internet buzzed with theories, memes, and the occasional conspiracy nut claiming it was all a plot by aliens to destabilize Earth’s economy.
Not The First Etf-related Fake News — When Will We Learn?
Meanwhile, XRP’s price, which had briefly basked in the glory of artificial hype, came crashing down in the aftermath and picked up again hours later. It was a stark reminder of the power of words in the crypto-verse, where a single true or false report can send the market into a frenzy.
Notably, the fake or true XRP ETF registration by iShares/BlackRock saga came after the October hoopla, when CoinTelegraph wrongly reported on a spoof BlackRock Bitcoin spot ETF approval.
Naturally, the news turned out to be fake rather quickly. But not before proving that crypto traders will buy up ANYTHING as long as it’s trending. A little sad. But let’s wait for OFFICIAL comments from the iShares or BlackRock before jumping to conclusions.
As the dust settled, the crypto community was left with a few lessons: always double-check the source, never trust a report that sounds too good to be true, and perhaps most importantly, keep a sense of humor because, in the world of cryptocurrency, you never know when you’ll need it.
