$XRP Delaware Officials Escalate Response to Fake BlackRock XRP Filing, Unraveling a Cryptocurrency Hoax

Delaware state officials have taken decisive action in response to a fraudulent filing for a BlackRock XRP fund, elevating the matter to the state's Department of Justice. The deceptive documentation surfaced on Delaware's official website, causing a temporary surge in XRP's value.

The deceptive filing falsely claimed the creation of a BlackRock-managed Exchange Traded Fund (ETF) centered on XRP, a prominent digital currency. Posted on the Division of Corporations website, which regularly features legitimate applications from BlackRock, the hoax involved minimal paperwork and a modest $500 fee. Nevertheless, it managed to inflate the XRP price to $0.75.

In response to the revelation that the BlackRock XRP ETF news was a sham, XRP swiftly reversed its gains, plummeting to $0.61—a notable 12% drop. BlackRock promptly clarified that they had not submitted an application for an iShares XRP Trust, dispelling the rumors.

The cryptocurrency community, particularly XRP enthusiasts, faced criticism from financial industry experts for their unwavering belief in the false news. James Seyffart, a prominent ETF analyst, highlighted the persistence of some XRP followers in clinging to the legitimacy of the BlackRock filing despite clear evidence refuting it. Seyffart characterized this mindset as a "borderline cult mentality" within this segment of the cryptocurrency community. The incident serves as a stark reminder of the susceptibility of digital asset markets to misinformation and the need for vigilance in verifying news within the crypto space. #xrp #etf #BTC #ETH