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Flawed XRP ETF facts has this stop on prices

Flawed XRP ETF facts has this stop on prices

The price of ⁤XRP quickly plummeted, causing panic among investors. Within 24 hours, ⁢over $7 million worth of positions were liquidated.

This incident ⁢highlights the power of misinformation⁣ in the financial markets. A single false claim about the launch of‌ an ETF can have a significant impact on the price of a cryptocurrency like⁤ XRP. It also underscores the need for⁣ accurate and reliable sources of information in⁣ the industry.

An⁤ ETF, or exchange-traded fund, is a type of investment fund that trades on ⁤stock exchanges. It is designed to track the performance of a specific⁤ asset or group of assets, ‌such as stocks, bonds, or in this ​case, cryptocurrencies. ETFs are ​popular among investors because they offer diversification and ‌liquidity.

BlackRock, ‌the world’s⁣ largest asset manager, has not actually filed for an ETF⁣ based on ⁤XRP. The regulatory filing that circulated on social media was a fabrication. Eric Balchunas, ​an analyst who specializes in ETFs, confirmed this⁤ after reaching ⁣out to BlackRock directly.

 

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin61,082 0.04 % 0.92 % 13.06 %
Litecoin77.70 0.33 % 3.51 % 21.13 %
XRP0.4769 0.43 % 3.87 % 21.49 %
Ethereum2,197.2 0.23 % 0.67 % 2.46 %
Dogecoin0.1429 0.14 % 3.78 % 26.74 %
USDC1.000 0.10 % 0.02 % 0.08 %
Cardano0.2543 0.15 % 1.68 % 3.38 %
Tether0.9990 0.10 % 0.04 % 0.02 %
Binance Coin (Wormhole)222.47 0.38 % 4.71 % 3.08 %