Fake News Spreads, XRP Falls Past $0.74 Peak!


 "The hopes of XRP investors must be shattered, yes he just remembers that the price is going to skyrocket crazy high."

The entire community must have been shocked to see the cryptocurrency Ripple (XRP) plummet to $0.64 right after its price skyrocketed to $0.74 in just a few minutes.

XRP's more than 12% rise came after BlackRock reportedly made a filing suggesting the asset manager was creating an XRP ETF product, but those gains were wiped out overnight after confirmation that the filing was false.

Clarified, users of social media platform X received a Delaware filing showing BlackRock had filed an application to register the "iShares XRP Trust", however it was confirmed to be false by Bloomberg ETF analyst Eric Balchunas.

Balchunas believes someone listed an XRP trust on a Delaware company listing website posing as BlackRock's managing director Daniel Schwieger.

It is well known that Bitcoin Magazine analyst Dylan LeClair was the first person to announce the news, then Balchunas and The Block did similar actions.

Although the listing is purely false, it must be emphasized that the spot Ethereum (ETH) ETF is real as it has been officially confirmed through a 19b-4 submission to the Securities and Exchange Commission (SEC).

As of this writing, XRP price is up 0.53% at $0.66 in the last 24 hours with a market cap of $35 billion but still recorded a 6.56% decline over the past week.