Whiterock rose no less than 116% on 30 May after rumors about a potential partnership with a large Saudi oil producer.
According to data from crypto.news, Whiterock (white) jumped to an intraday height of $ 0.00138 before he returned to $ 0.00104 at the time of writing. Market capitalization was around $ 780 million, while the daily trade volume left 500% to almost $ 10 million, a clear sign that token has attracted the attention of the traders.
Since the lowest march, White has now collected more than 280%.
Adding fuel to the rally was a huge increase in open interest, which rose 240% to a new highest point of $ 998.55K, indicating a growing excitement among derivatives traders.
Speculation on X received after non -rewarded claims suggested that Whiterock collaborated with Ripple to Tokenize the Oil -Supply Chain, reportedly Saudi Aramco.
Although neither Ripple nor Whiterock have confirmed the partnership, the rumor has fueled a significant market enthusiasm.
The post, shared by pseudonyms market keeper Amonyx on 29 May, described it as “the biggest deal in blockchain -token rise history” and included a document with details about the partnership, supposedly signed by a Saudi official.
That message quickly got a grip, raised more than 254,000 views and pushed White in trending searches on Google, a clear sign from stores FOMO that starts.
From the moment of the press, none of the parties involved, Ripple, Whiterock or Aramco, has confirmed such a deal.
Further investigation of the shared document is declining further. It refers to a “Sheikh Abdullah bin Khalid al-Falih”, a figure without a track in official Saudi records, and has a signature that, as revealed by a simple search, resembles that of the Iranian actress Mahtab Keramati, who pulls further red flags over the authenticity.
Moreover, Saudi Aramco has not made announcements with regard to blockchain-based oil tokenization. Although the company collaborated with Ripple-relied SBI companies in 2023, that cooperation focused on general investments in digital assets and it was not about XRP or tokenization oil.
Whiterock does have ties with the Ripple ecosystem during his launch of March 2025 on the XRP whides, aimed at Institutional Token -Ised Asset Trade. However, there have been no references to oil-linked products in his official communication.
Until the verifiable confirmation emerges, the increase in white sentiment-driven seems to be, with the momentum of the token highly dependent on a non-substructed story. Without further validation, the rally can be confronted with a downward pressure if the first hype fades.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.