BlackRock Dismisses Possibility of XRP ETF
Speculations about the potential for an XRP Spot ETF have been growing in the crypto community, but recent reports suggest that there are no clear prospects for an XRP ETF in the future. Charles Gasparino, a senior correspondent at Fox Business, revealed that BlackRock, one of the world’s leading investment companies, has dismissed any possibility of filing for an XRP ETF. This news had an unfavorable response from the XRP community. BlackRock’s CEO Larry Fink has also made elusive remarks about a potential XRP ETF.
Elusive Response from BlackRock CEO
During an interview with Gasparino, Fink faced questions about launching an XRP Spot ETF but responded with “I can’t talk about that!” This response sparked discussions among experts as they tried to decipher any hidden meanings regarding an XRP ETF. While BlackRock has not made any solid statements about an XRP ETF, Gasparino claims that individuals with insider information have confirmed that the company has ruled out the possibility.
XRP Price Declines Amid Bearish Market
The recent bearish trend in Bitcoin’s price has had a negative impact on many top cryptocurrencies, including XRP. Despite rumors of an XRP ETF, the cryptocurrency has experienced a significant price correction. Recently, it fell below the crucial support level of $0.55 and is currently trading at $0.549. Analysts warn that a failure to maintain this support level could trigger a massive sell-off phase, potentially dropping the price to $0.34.
Hot Take: Uncertainty Surrounding XRP ETF
The crypto community’s hopes for an XRP Spot ETF have been dashed as BlackRock dismisses any plans for such an investment product. This news comes after CEO Larry Fink’s mysterious response to questions about an XRP ETF. As a result, XRP has experienced a decline in price, further affected by the overall bearish sentiment in the market. Investors are now left wondering about the future prospects of an XRP ETF and its potential impact on the cryptocurrency’s value.
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