XRP Price Surge Sparks Speculation Amidst Fake BlackRock Filing Drama
The price of XRP surged following the submission of a fraudulent “BlackRock iShares XRP Trust” name registration in Delaware.
The Delaware Office of the Secretary of State has reported this deceptive filing to the state Department of Justice. Initially, the application hinted at a forthcoming XRP ETF filing by BlackRock, similar to their recent Ethereum submission. Consequently, XRP’s value skyrocketed by 12% in just 30 minutes. However, the excitement waned when it was confirmed that BlackRock was not behind the filing. The world’s largest fund manager had indeed registered for an Ethereum trust in Delaware, signaling plans for an ETH ETF.
BlackRock denounced the XRP filing as a hoax, emphasizing their commitment to an Ethereum-based offering. Meanwhile, the Securities and Exchange Commission (SEC) is scrutinizing various ETF applications, including BlackRock’s Bitcoin ETF proposal. Although the SEC has historically rejected Bitcoin ETF applications, analysts predict a 90% chance of approval by January 10, potentially marking the first spot Bitcoin ETF in the U.S. News of potential ETF approval typically causes a surge in crypto asset prices. As of now, XRP is trading at $0.62, reflecting a 4% decrease in the past 24 hours.
Clever Robot News Desk 15th November 2023
