Stellar (XLM) has continued to mirror the price movements of XRP, recently spiking 13% to a high of $0.13825 on the back of XRP’s rally following the false claims of a BlackRock XRP ETF.

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As The Crypto Basic recently reported, the claims of BlackRock launching an iShares XRP ETF recently dominated the crypto community, leading to increased buying pressure for XRP. The asset surged 15% within two hours to a four-month high of $0.74.

XLM Mirrors XRP’s Spike

While the attention remained on XRP, XLM strangely registered an identical price increase at the same time with XRP. XLM changed hands at a low of $0.12203 before social mentions of the report gained steam. As these mentions increased, the asset rallied with XRP to a three-month high of $0.13825.

The last time XLM saw this price territory was in August. Notably, this upsurge marked a 13.2% increase in the space of three hours.

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However, as XRP slumped, XLM recorded a similar price decline, another testament of the price correlation between both assets. After hitting the $0.13825 high, XLM collapsed to a low of $0.11945 before immediately witnessing a comeback from the bulls that saw it recover some of the losses.

Meanwhile, XRP is still witnessing declines from the ensuing selling pressure after market participants learned that the BlackRock XRP ETF filing was fake. Amid fierce resilience from the bulls, XRP is only observing a minor 0.26% drop over the past 24 hours.

Nonetheless, XLM...

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