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XRP Spikes 15%; Community Still Confused Whether ETF Filing True Or Not

A recent filing for one of the largest asset managers, BlackRock fund on XRP was highlighted on the official Delaware website that registers investment trusts incorporated in the state. Bloomberg reported that a spokesperson from the asset manager confirmed it was “false.” Several analysts observed that XRP experienced more than a 15% surge over this “fake” filing.

XRP/USDT 1-Hour Chart (Source: TradingView)

Eric Balchunas, the senior ETF analyst for Bloomberg, also reported on X that this filing is “false.” He further emphasized that he had confirmed it with BlackRock’s spokesperson. However, despite this announcement by Balchunas, a few community members questioned whether this was true or not, asking for proof. In fact, one member asked Balchunas, “Please post the confirmation, given that it was text based.”

Please post the confirmation, given it was text based. You can blur out the e-mail address if necessary. A lot of people are still speculating whether this is real. Would appreciate it, thanks.

— Oskar Arnarson (@oskararnarson) November 14, 2023

The senior ETF analyst for Bloomberg also noticed that people have been questioning whether BlackRock confirmed this is false. In response to this, Balchunas said, “They did. A spokesperson confirmed.” He also mentioned that the community members who are “still raging” need “to seek medical help.”

In relation to the XRP ETF news, a crypto analyst, Cryptoinsightuk, also expressed, “I honestly have no idea what to believe at the minute. My gut tells me its fake news.” He also reminded the community that this felt similar to the fake BTC ETF news incident. In the end, he shared his analysis, claiming the indicators (RSI and Stochastic RSI) are in the oversold region.

The surge XRP experienced was short-term as it fell back to its previous position. Analyst James Seyffart speculated that this “quick round trip” could attract the Feds. The final mystery that the community seems to ask is how did one file a fake entity?

My thoughts on the iShares XRP Trust story:

1. It is indeed on the Delaware Corp. Commission website. I search this all the time to look up the right entity to sue in my legal cases.

2. Could someone file a fake entity? I’m only familiar in filing these in CA and…

— Fred Rispoli (@freddyriz) November 14, 2023

Fred Rispoli, an analyst, shared his thoughts, stating, “Could someone file a fake entity? I’m only familiar with filing these in CA and AZ, and yes, I could easily file a fake entity on a real corporation commission website in those states. Maybe it’s hard to do in Delaware.”

So far, the BlackRock and Delaware website has not yet sent out an official statement regarding this matter. The only proof that claims that the XRP filing is false is from the “spokesperson” Balchunas has contacted. At the same time, there is still no proof that XRP’s filing is true.

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