One of the leading cryptocurrencies, Ripple-affiliated XRP, has suddenly skyrocketed in price, adding 3.37% to its price and reaching the level of $0.51055.
However, this local peak did not hold and the currency fell again, making another attempt to rise after that. At the time of writing, XRP is changing hands at $0.49778 per token.
The jump in
Bitcoin Soars and Pulls Back, XRP Follows
This news published by several crypto media outlets and then by Reuters and Bloomberg Terminal, then boosted the global flagship cryptocurrency Bitcoin by 10%. However, BlackRock reacted, stating that this was fake news and that its BTC ETF is still being considered by the demanding regulator and its president, Gary Gensler, the most hated person in the crypto community today. This caused Bitcoin to fall again.
It wasn’t just XRP that followed Bitcoin up and down, so did other altcoins including ETH, SOL, ADA, DOGE and many others.
The crypto community is in an uproar
This event, the fake news about the ETF, is now being hotly discussed on App X by several crypto influencers and average community members. The CEO of Tether, Paolo Ardoino, has asked his followers if the news is true or not since “nowadays I can’t trust a lot of news…”
Noted cryptocurrency trader and podcaster Scott Melter believes that the E.T.F. It will eventually be approved, but those who leaked the fake news have been able to “make a ton of money trading volatility and front-loading trades.” This seems unlikely, considering how deliberately the SEC has handled spot ETFs.”
“There are more scenarios, none of them are great… unless we are about to see real approval,” he concluded.
