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Someone needs to go to prison this is The most ridiculous xrp price Manipulation I've seen in my entire life The headline on your screen says it all From coindesk bogus Black Rock xrp Filing spoofs ETF Watchers crypto Traders and we've been talking about This in the community quite a bit Especially lately because uh not only is There of course well bunch of spot Bitcoin ETFs that applications that have Been filed more recently we found out That there's a an ETF filed by Black Rock for uh for eth and so there's been All sorts of speculation well what about Xrp why hasn't that happened yet and I Explained why I didn't actually think it Was probable which is why when this news Broke I was really caught off card I was Excited by it like everybody else was And I believed it uh because it came From reputable sources and because There's an actual filing like the the Filing is real it's just not like the Filing is real it's just not bu black Rck it's it's somebody's got to go to Prison folks but um I Just what a roller coaster of emotions Man over a span of like 15 minutes my Brain exploded like everybody's El Everybody else's and then we find out That it's it's fake I just okay but Before going for I'm going to run
Through everything with you but before Going further I do want to be clear I do Not have a financial background of any Kind I am not offering Financial advice And you definitely should not buy or Sell anything because of anything I say Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun so as I record this video Xrp is now 67 cents but it ran up to 74.6 C for those of you looking at the Screen right now you can see it's the 24-hour uh xrp chart and that's quite a Spike right here and then right back Down so so I posted this I I wrote this Is effing insane spot xrp ETF here we Come I shared that on social media Platform X and um and that was and so The what I reposted actually uh has been Since since deleted and it was by uh Eric balunis now I want to note Eric Balunis uh where's his profile here we Go he is self-described as a senior ETF Analyst for Bloomberg so if there's Anyone who's reputable it's got to be This guy and he's been reporting all Sorts of stuff having to do with crypto ETFs um and and he is trustworthy it's Just I understand like he got tricked I Got tricked we all got tricked so it's Not like I'm mad about anybody that got Tricked but yes of course we all believe This was real and so here's what he
Posted he wrote Black Rock added again Has filed to register ishares xrp trust The precursor to an ETF filing I thought It wasn't real when I saw others posting But I just checked and it is in fact on The Delaware list of Corporations Website uh so again totally surprised When I saw that because I didn't think That it was probable for a number of Reasons I mean obviously so even though Xrp has legal Clarity and we know that Technically the secv Ripple lawsuit is Still ongoing technically so there's That uh then there's the fact that it's A much smaller market cap than you know Eth or Bitcoin which to me is a positive Because that represents a ton of Opportunity for future price action uh But so I was kind of skeptical that that Would happen there and uh yeah here it Was so um then there was this update From Eric balunas and he wrote this is False confirmed by Black Rock by me some Wacko must have added using Black Rock Executive name Etc come on man and so Again he did his due diligence it's just Like if somebody actually files this Thing and somehow gets away with that Which is still like incredibly Mind-blowing to me like what are you Going to do like if if the filings there Like what just with no evidence assume It's a lie now ultimately they did get In touch with black rock and they denied
It but it still makes me wonder because Like the process of getting this Approved which I'll get to in just a Second uh it's not supposed to be a walk In the park you know it's not supposed To be easy um and so then I also posted This after it was found out to be false I wrote this is Next Level manipulation Someone needs to go to prison for a hot Minute they impacted the global price of Xrp so somebody presumably anyway uh did This with the intent of making a mint You know somebody made a probably a lot Of money they knew what this would do Obviously it's going to run the market Up so they probably loaded up on xrp and Then sold the top and that's just Speculation but what people just doing This for like shits and grins Maybe um uh take a look at this though And this was shared by uh crypto Crackhead and I came across this thanks To uh Irish R crypto who tagged me thank You very much Irish R for tagging me Here um crypto crackhead that's a funny Name uh wrote If you search the site It's actually there um also no one can Just file an application on the Delaware Site there is a process to prevent these Types of manipulations uh types of Manipulation happen and so here's the Actual filing it is there it's a real Thing I shares xrp Trust precursor to uh Spot xrp ETF and then there's also this
This is a screen graph from the website First the Delaware Division of Corporations requires all trust Documents to be signed by the granter The person creating the trust and by two Witnesses the trust document must also Be notorized this requirement makes it Difficult to create a fake trust Document without the granter knowledge Or consent so folks I just I got to how Did this happen then if this is if this Is really fake as black black rock is Asserting how or is Black Rock lying and They actually did file it I mean I'm not Going to assume that's the case but this Is Buck Wild right this is I've never Seen xrp price manipulation like this I've never seen anything like this this Is absolutely Insane it's that's funny it's like Whether it's real or not real it's Ridiculous to me and insane either way It's it's absolutely Insane um and then the blockchain backer Also shared this he wrote um out of all The times I've seen xlm move with xrp This was the most bizarre the fake news Was literally xrp specific and would Impact xrp only not xlm if anything You'd expect xlm to sell off like the Rest of the market instead of mirrors Why still makes no sense to this day Yeah and he's spot on there obviously it Doesn't make a damn better of sense uh
But it certainly is true that very Frequently xrp and xlm just move in Tandem because reasons folks obviously Because reasons here it's just an Interesting observation but yeah here's The xlm chart looks about the same as Xrps pretty damn Similar let's jump in this piece now From coindesk and I'll share you share With you what they reported here but my God again what a roller coaster of Emotions and and by the way look I will Not be surprised to see a spot xrp ETF At some point in the future it's just if It were to actually happen right now That's insane to me that that was Surpris I was very much CAU caught off Guard by this But is what it is uh Black Rock is not Attempting to launch an xrp exchange Traded fund uh the asset manager said Monday a regulatory filing suggesting The company had taken a first step Toward doing so is fake a spokesperson Said shortly after the news began Circulating on social media xrp's price Jumped more than 10% at one point but Had already begun sinking back to its Pre-new intraday price of around 65 uh Black Rock has previously filed With the US Securities and Exchange Commission to launch spot Bitcoin and Ether ETFs prior to those filings uh Were filings for a Delaware entity which
Acts as the corporate vehicle for the Product paperwork submitted Monday Mimicked those forms but was not in fact Filed by the asset management giant this Is not the first time Delaware's Corporate registration process has been Abused seemingly in an attempt to pump Crypto prices a pair of firein in 2021 Suggested grayscale an asset manager Would launch Trust vehicles for two Tokens that grayscale did not have plans For grayscale is a subsidiary of Coindesk parents company digital Currency group speculators took hold on Monday afternoon as ETF Watchers Including Bloomberg's Eric pconus Amplified the phony filing presenting it As True Media corporations including Bankless and the block also recirculated The news fueling by pressure on xrp but Other informed observers expressed a High degree of doubt that black rock Hardly regarded as a risk taker in Crypto would even think about creating An ETF product for xrp which is the Subject of active litigation with the SEC which is certainly a fair enough Point and so I apologize because I Amplified it as well but I mean why Would I not believe in actual filing on The damn website like I I get it we were All tricked I was tricked for sure but I Just I'm not going to blame myself or Anybody else for being tricked somebody
Deceived us out there and they they did A good job of that they definit Manipulated the price of xrp which is Why I thought it was funny when I think I have this pulled up yeah my fellow Except YouTuber Alex Cobb posted I am Going to get drunk to cope with what Just Happened so I wrote yep I I actually Reposted that I wrote to alcohol the Cause of and solution to all of life's Problems that's a Homer Simpson quote For Y'all damn it how was this real life I Don't know I just got to take it in Stride I mean like all we can do just Laugh about it I mean is what it is Man tell me how it went for you were you Guys all pumped like and and did you Fall for it like me or were you're not Tricked because I'm admit like I was Totally tricked by this but again I Think it's reasonable to be tricked Given like there's a real filing like What I'm just not going to believe the Filing I mean I thought it was Ridiculous like I was very surprised by This because this is not something that I thought was going to happen so you Know the fact that I found out that I Was tricked I'm like okay is what it is Folks all right I'm going to wrap up Here just let me know what you think This is stupid as hell though this is
The dumbest damn thing I'm not a Financial adviser you should not buy Yourself anything because of anything I Say or right that would be a very very Very bad idea until next time to the Moon Lambo