Ripple’s XRP has skyrocketed above $0.50 in the past few minutes. The cryptocurrency seems to be following the uptick in the entire market, as most coins are trading well in the green.
The main reason for the increase in Ripple’s XRP price seems to be that of reports circling an approved spot Bitcoin ETF.
Cointelegraph tweeted on the matter, but the story is developing:
BREAKING: SEC APPROVES ISHARES BITCOIN SPOT ETF.
🚨 BREAKING: SEC APPROVES ISHARES BITCOIN SPOT ETF.
— Cointelegraph (@Cointelegraph) October 16, 2023
This story is developing and is to be updated with new information.
UPDATE 1:
Most of the gains made by XRP in light of the reports have been erased at the time of this writing.
Additionally, Eleanor Terrett – a journalist at Fox Business, claims that the reports of Blackrock’s ETF being approved are false.
BlackRock has just confirmed to me that this is false. Their application is still under review. – Terrett commented on Cointelegraph’s tweet.
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Source: https://cryptopotato.com/ripple-xrp-price-explodes-above-0-51-on-spot-bitcoin-etf-approval-reports/