A prominent voice in the crypto community recently exposed misleading content targeting XRP investors. Eri, a respected XRP community figure and host of one of the top crypto YouTube channels in 2024, called out certain crypto publications for repeatedly publishing deceptive reports. According to Eri, these outlets are preying on the token community by pushing narratives that encourage investments in questionable tokens like CFT.
In a series of posts on X (formerly Twitter), Eri highlighted a pattern in which reports claim that the United Arab Emirates (UAE) and India are using XRP for oil trading, replacing the U.S. dollar. This narrative, she pointed out, has been circulating for over three years without credible evidence. Eri’s critique stemmed from an article published just yesterday, which she believes was another attempt to mislead the community and push CFT tokens.
Eri argued that both this recent article and a similar piece from last year were promotional content disguised as news, specifically targeting XRP enthusiasts. Her concerns were echoed by other members of the crypto community, who voiced frustration over the impact of such misinformation. One user noted that these tactics damage XRP’s reputation and create an unsafe environment for investors.
In another post on August 6, Eri exposed a different sponsored article falsely claiming that JPMorgan had begun accepting XRP for credit card and mortgage payments. She emphasized that this was another misleading attempt to boost engagement and draw readers toward specific tokens.
Fact Check: Is India Using XRP for Oil Deals?
The Crypto Basic conducted an investigation into the widely circulated claim that India purchased oil from the UAE using XRP. Their findings debunked the story. The deal was executed in local currencies, not the token. The confusion arose because the transaction was processed through the XRP Ledger, which offers CFT tokens as cashback rewards.
Several media outlets amplified the misleading story, failing to provide key details like transaction dates and financial values. In reality, India made its first rupee-based oil payment to the UAE in July 2023, according to Business Standard.
Misinformation campaigns like these highlight the need for caution in the crypto space, where deceptive narratives can quickly spread, targeting unsuspecting investors.