XRP experienced a sudden surge in price due to a deceptive business registration claiming to be a BlackRock XRP trust. The filing, which closely resembled genuine registrations associated with the renowned asset management firm, caused a stir in the cryptocurrency community. The value of XRP briefly increased by about 14% as a result. However, the gains were quickly erased after BlackRock confirmed that the filing was fake. BlackRock CEO Larry Fink attributed the speculative surge to wider geopolitical concerns and highlighted the pent-up interest in crypto. This incident is reminiscent of a previous market rally triggered by a misleading headline about BlackRock’s bitcoin ETF approval. The recent misinformation added to the confusion surrounding BlackRock’s involvement in crypto-related entities, following the registration of an Ethereum trust. While XRP may not be as well-known or favored as Bitcoin and Ether, it continues to attract a devoted following and plays a significant role in the world of digital currencies. BlackRock’s filing for a spot Ether ETF indicates the company’s intention to expand its ETF ambitions beyond Bitcoin. The spread of false information in the cryptocurrency industry was fueled by expectations of the SEC approving a spot Bitcoin ETF, which contributed to the recent increase in Bitcoin’s price.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Larry Fink, Eric Balchunas
Companies	Nasdaq, Bloomberg, Delaware’s Division of Corporations, Delaware Department of State, BlackRock
Currencies	Lido Staked Ether, XRP, Bitcoin
Securities	None