Did JPMorgan and BlackRock Acquire Millions of XRP As Rumored? Unraveling the Truth

Rumors and speculation are common in the crypto space. One such instance happened in October 2023, when a fake story about the U.S. Securities and Exchange Commission (SEC) approving a spot Bitcoin exchange-traded fund (ETF) went viral.

The rumor originated from an unverified Twitter account and gained traction quickly, leading to a surge in Bitcoin’s price. Recently, a fresh rumor sparked speculation about BlackRock and JPMorgan’s acquisition of some millions of XRP.

Read Also: Pundit Foresees XRP Capturing Part of JPMorgan Coin’s $1 Billion Intraday Repo Market

This speculation gained momentum on X, where influential figures like Amelie (@_Crypto_Barbie) contributed to the conversation, generating excitement among teeming followers.

However, some observers and critics have noted an inconsistency in the figures, as the suggested $6.2 billion valuation would significantly skew JPMorgan’s worth of $440 billion.

The legitimacy of JPMorgan’s alleged substantial stake is still being determined, as the company has neither confirmed nor refuted the rumor.

Users on X are scrutinizing the rumor and expressing skepticism about its credibility. They are also advocating caution against unfounded reports.

Similarly, there were also speculations about BlackRock’s interest in XRP. However, like the recent rumor about JPMorgan, there is no supporting evidence for these assertions.

Cryptoinsightuk (@Cryptoinsightuk) took to X to inform the XRP community that the rumor about BlackRock buying 7.5 million XRP is untrue. He advised everyone to focus and not get dissuaded by noise as things will get going again soon.

Read Also: BlackRock and JPMorgan’s Strategic Entry to Ignite XRP Price Surge –Forbes

XRP’s Future

Although these rumors of BlackRock and JP Morgan’s involvement in the crypto industry can’t be confirmed, banks and other financial giants are increasingly considering cryptocurrencies as an alternative investment because of the looming collapse of the U.S. Dollar, rising debt, and wartime inflation.

XRP, as a token with real-world utility, can carve out a niche in the emerging market. This is also being discussed in the XRP community. People wonder how XRP would perform with real-world utility if it could reach $3.84 on speculation alone.

XRP did not react significantly to the news, with a mild 2.43% increase in the last 24 hours, trading at $0.6071. However, many believe XRP could see a massive upturn soon, as the pro-Bitcoin Argentinian president plans to make a notable move that could boost crypto adoption in the country.

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