Did BlackRock really buy $1.8 billion of XRP?
Rumors swirl: Did BlackRock invest $1.8B in XRP? Uncover the on-chain truth behind the crypto buzz and find out the facts.
The $1.85 Billion Rumor That Set X Ablaze
It all started with a series of tweets and screenshots shared by well-known crypto influencers, including the popular account The Crypto Bull. The images, supposedly representing BlackRock‘s digital asset portfolio, displayed a surprising line item: a position in XRP valued at over $1.85 billion.
In a market hungry for bullish catalysts, the information hit like a bombshell. For the XRP community, it was the ultimate validation, a sign that the world’s most powerful asset manager was finally betting on Ripple’s technology.
However, this isn’t the first time BlackRock’s name has been dubiously associated with XRP. We remember the fake ETF filing in Delaware in late 2023 that triggered a short-lived pump before crashing violently. Caution was therefore warranted for savvy traders.
Fact-Checking: On-Chain Data Doesn’t Lie
Unfortunately for the bulls, reality is far less spectacular. By analyzing public data via the blockchain intelligence platform Arkham Intelligence, the truth quickly emerged. The wallet identified as belonging to BlackRock does not contain $1.85 billion in XRP.
The real figures are laughable: the fund holds approximately 5.2 XRP, worth barely $10. These token dust amounts are likely transaction residue or tests, far from the massive accumulation suggested by the rumors. The rest of BlackRock’s crypto portfolio remains concentrated on its major strategic positions: Bitcoin (BTC) and Ethereum (ETH), which weigh in at several tens of billions.
It turns out the screenshots were either crude fabrications or the result of HTML display manipulation (via the “Inspect Element” tool), a common technique for generating fake evidence and creating artificial buzz. This type of fake news often aims to create exit liquidity for bad actors looking to dump their positions on gullible buyers.
The persistence of these rumors reveals the market’s desperate anticipation for institutional adoption of XRP. After Ripple’s partial victory against the SEC, speculators are watching for any signal of a Spot XRP ETF. However, BlackRock, through its CEO Larry Fink, has remained very measured, currently favoring assets with complete regulatory clarity and massive client demand like Bitcoin.
Can XRP Rally Without BlackRock?
Even without BlackRock’s direct support for now, XRP retains interesting technical fundamentals. The token is currently testing critical support zones and could head toward $1.7, or even $1.3 in the coming months.
Traders must now monitor the real catalysts: the evolution of Ripple’s stablecoin (RLUSD) and cross-border transaction volumes. XRP will inevitably need the giant BlackRock to reach a trillion-dollar market cap. But for now, the focus is on absorbing selling pressure as the crypto market once again slides toward lower lows.
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Charles Ledoux
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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