The claims about BlackRock gearing up to buy $9 trillion worth of XRP, a potential price surge to $397 by the end of March, and the mass adoption by major. Here’s a reality check on these statements:
1. BlackRock Buying $9 Trillion Worth of XRP: There is no confirmed news or credible reports suggesting BlackRock is preparing to buy $9 trillion worth of XRP. Even for a firm as large as BlackRock, this scale of investment would be unprecedented and likely to be regulated heavily. $9 trillion is roughly the size of the entire global bond market, so such a move would be a massive shift in the crypto space and beyond. Be cautious of such sensational claims.
2. XRP Price Surge to $397: While XRP’s price can experience fluctuations due to market trends, a rise to $397 by March 2025 seems highly speculative. Cryptocurrency markets can be volatile, but predicting such a large price jump within a short timeframe typically involves speculation without solid backing.
3. American Express and Wells Fargo Adoption of XRP: There have been reports and discussions about various financial institutions exploring blockchain technology, including Ripple’s XRP for payment settlement systems. However, direct confirmation of American Express adopting XRP or Wells Fargo fully integrating it is not clear. Adoption on such a large scale would require regulatory approval and infrastructure changes, which tend to take time.
4. JPMorgan Potentially Next: JPMorgan has historically been cautious with cryptocurrencies, focusing more on its own blockchain projects (like JPM Coin) rather than adopting XRP. While it’s always possible for major banks to explore other technologies, this would still be speculative.
5. Banxchange Introducing $1.1 Trillion Market on XRP Ledger: There is no major verification or well-known institutional support confirming a $1.1 trillion market being launched specifically on the XRP Ledger by Banxchange. XRP Ledger is indeed used for various types of blockchain projects, but figures like $1.1 trillion seem exaggerated unless corroborated by credible sources.