False Filing Causes XRP Price Surge
If you’re in the crypto world, you might have heard about a fake filing that led to a temporary surge in the price of XRP. The filing, which appeared to be from BlackRock, suggested that the company was preparing to launch an XRP ETF. This caused a 12% increase in XRP’s price within 30 minutes of the news breaking.
The filing looked legitimate and was published on the Delaware Divisions of Corporations website. It included details matching previous filings for bitcoin and ether but named XRP instead. However, a spokesperson from BlackRock confirmed that the filing was not legitimate and had no connection to the asset manager.
Once it was revealed that the filing was fake, the price of XRP quickly returned to its previous level, around 66 cents per token, according to Coingecko.
Hot Take: Beware of Fake News
It’s essential to be cautious when it comes to news in the crypto world. False information can have a significant impact on prices and cause unnecessary volatility. Always verify sources and double-check any announcements before making decisions based on them.
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