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Impact on XRP price as Roblox refutes integration rumors

Impact on XRP price as Roblox refutes integration rumors

Shortly after a now-deleted X post by BitPay, in which the cryptocurrency payments platform said that Roblox (NYSE: RBLX) would introduce support for crypto payments – specifically XRP – the gaming platform quickly refuted these claims, impacting the price of the token in question.

Specifically, the price of XRP briefly soared to over $0.50 on October 16, around the time of the original post, which claimed that users could begin using the crypto for Xsolla payments in supported games, including Roblox and Smite, according to the data retrieved on October 18.

XRP price after BitPay’s X post. Source: CoinMarketCap

Indeed, as the post claimed:

“Xsolla now accepts XRP with BitPay as a payment method for their games such as Smite and Roblox. (…) You can use your favorite cryptocurrency to buy, play, and enjoy gaming like never before.”

However, Roblox soon denied any claims that it plans to integrate XRP payments with Xsolla, a global video game commerce company, first in a response to the original X post by BitPay and later for crypto media, stating that the information was “inaccurate.”

That said, a representative from Roblox shared that Xsolla is indeed one of the gaming company’s payment providers but that Roblox does not enable cryptocurrencies like XRP or Bitcoin (BTC) as a payment method, noting that BitPay had removed the post due to incorrect information.

Subsequently, in the several hours following the revelation of the misinformation shared in the BitPay post, the XRP price started to decline and returned to its pre-announcement amount in the area of around $0.4915, as the chart data indicates.

XRP price after BitPay’s X post is debunked. Source: CoinMarketCap

Commenting on the development, BitPay CMO Bill Zielke said that “there was an error in the tweet” and announced “more tweets about merchants accepting crypto in the near future,” urging those interested to “stay tuned.”

XRP price analysis

As things stand, XRP was at press time trading at the price of $0.4898, which demonstrates a decline of 0.04% in the last 24 hours, a 0.56% gain across the previous seven days, and a 2.76% drop on its weekly chart, according to the most recent data retrieved on October 18.

XRP 24-hour price chart. Source: Finbold

Evidently, developments surrounding XRP can have enough strength to move the price in either direction, which has also become apparent during the legal standoff between the United States Securities and Exchange Commission (SEC) and blockchain company Ripple which has close ties with the token.

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