The XRP community is unconcerned by a recent unsubstantiated rumor suggesting that Ripple intends to offer USDC issuer Circle $20 billion. The claim, which emerged on the X platform, was met with skepticism from many members due to a lack of credible evidence. ❌
EasyA cofounder Dom Kwok has stated unequivocally that such a massive sum is highly improbable. This follows Circle’s recent filing for a $5 billion initial public offering (IPO), suggesting they are seeking capital on their own.
The origin of the rumor appears to be tied to an anonymous X account claiming increased funding from $5 billion, though the source remains questionable. Despite this, XRP prices did surge on Sunday following false news about ProShares securing approval for XRP ETFs – highlighting how easily fake rumors can influence market sentiment.
Circle’s recent move to develop a cross-border payments network directly competes with Ripple in this area. The company holds a prominent position within the stablecoin market, boasting USDC capitalization exceeding $61 billion. 💰
In April, Circle also announced plans for a new payments system, increasing their competition with Ripple.
While initial reports suggested Ripple might make another offer to Circle, it’s crucial to note that no credible reporting supports the claim of a $20 billion increase.
**Key takeaways:**
– XRP community dismisses unsubstantiated rumors about Ripple’s financial intentions.
– The rumor raises concerns regarding potential manipulation and misinformation in cryptocurrency markets.
– Circle’s IPO suggests they are seeking funding independently.
– Competition between Circle and Ripple in the stablecoin space intensifies.
**Read Original Article on U.Today.**