Understanding the XRP-BlackRock rumour and its implications
Only a few days before this episode, Ripple also cracked a new partnership, one that can help further increase the blockchain’s adoption in Asia....
- XRP's price rallied after a rumor emerged that BlackRock was planning to shift its focus from Bitcoin to XRP, but it was later revealed to be fake news.
- XRP's social engagement dropped and bearish sentiment increased after the clarification.
- Ripple cracked a new partnership with SBI Group to launch an international money transfer service using XRP.
- Despite the partnership, XRP's network activity remained low and its total transactions and daily active addresses decreased.
The sentiment around XRP turned negative after the fake news about BlackRock's interest in XRP. The partnership with SBI Group was seen as a positive development, but it did not have a significant impact on XRP's network activity.