The BlackRock XRP Trust Filing Scam
A fraudulent filing for a BlackRock XRP Trust appeared on the official Delaware investment trusts registration website, causing a more than 15% price increase in XRP. The fake news about BlackRock XRP Trust pumped and then rapidly dumped the XRP price in just an hour, with the current price at $0.66.
Triggering the Price Rally
The Delaware Department of Stateβs Division of Corporations website listed a trust called βiShares XRP Trustβ registered to BlackRock. This prompted a significant surge in the XRP price within an hour, only to plummet after it was discovered that the filing was not authentic.
Bloomberg analyst Eric Balchunas confirmed that the filing is fake and expressed concerns about someone pretending to be BLK and registering legal names. The Delaware Department of State representative did not respond to comments regarding how the false BlackRock name ended up on their website.
XRP Price Movement
XRP price jumped 15% following the news of BlackRock XRP ETF filing but quickly dropped after Bloomberg analysts confirmed it as false. Currently, the price is trading at $0.66 and has seen a 250% increase in trading volume over the last 24 hours.
Hot Take: Fake News Influence on Crypto Markets
False news spread quickly within the crypto community, resulting in market volatility. It is crucial to verify news sources before reacting to avoid being misled by fraudulent information.
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