“Is wrong”
The popular altcoin surged to $2 on the Binance Exchange after Walter Bloomberg, a popular X-headline that posts headlines for the Bloomberg Terminal, wrote that the White House was considering a 90-day suspension of tariffs. This explanation cited White House economic adviser Kevin Hassett, who appeared on Fox News this morning.
The social media post quickly went viral and was picked up by CNBC. This promptly raised the prices of stocks and cryptocurrency. However, the headline was later turned out to be fake news as Hassett said nothing about the tariff suspension during the actual interview.
However, the official, prompt response account of the White House revealed that the tweet was “wrong.”
It’s wrong. Not only did director Hassett not say this (clip below), but @potus was clear – “It all needs to be changed, especially in China!!” https://t.co/3kvt8ascaz pic.twitter.com/jhuchjzm3s
– RapidResponse 47 (@rapidResponse 47) April 7, 2025
XRP then plunged to $1.85, expunging its short-lived profits. Bitcoin, the leading cryptocurrency, is also clearly sold in the news, but the decline in XRP was particularly severe as it experienced strong rally in recent news.
Apparently it was born on Twitter
CNBC saw it, they couldn’t confirm it, but they said they couldn’t put the headline on the screen anyway
Reuters then flashed it cited CNBC
Cinema https://t.co/lyeq6x0o9u
– DB (@tier10k) April 7, 2025
Today, XRP plunged all the way to $1.65 amid a sale in the global market.
Coinglas data shows that around $82 million worth of XRP tokens have been liquidated over the past 24 hours. The long position accounts for the majority of wipeouts ($62 million).
