BlackRock XRP Trust’s fake filing prompted a temporary price increase


On Monday, the price of XRP saw a small increase on the back of rumors that a prospective Blackrock XRP ETF was in the works.

The price of XRP saw a momentary spike as a result of a fraudulent filing that was meant to give the impression that BlackRock was making preparations for the launch of an XRP ETF.

The document was sent to the Delaware Divisions of Corporations and made public on their website once it was accepted there. It included information that was consistent with previous disclosures made by BlackRock, such as the company’s name and address for its registered agent. It was comparable to earlier filings for bitcoin and ether, with the exception that it named XRP.

On the other hand, a spokeswoman for BlackRock verified to The Block that the file does not have any connection to the asset management. This indicates that BlackRock is not presently planning to introduce a spot XRP ETF onto the market.

After people on X discovered the filing for the first time, it was followed by a 12% increase in the price of XRP within the following 30 minutes after the initial postings were made. According to Coingecko, as it became public knowledge that the filing was a hoax, the price moved closer to where it had been before, which was 66 cents for each token.

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