XRP News Today: WhiteRock Surges 116% on Unverified Saudi Oil Partnership Rumors

WhiteRock, a cryptocurrency, experienced a significant surge of 116% on May 30, driven by rumors of a potential partnership with a major Saudi oil producer. The cryptocurrency, known as WHITE, reached an intraday high of $0.00138 before retreating to $0.00104. This surge in value was accompanied by a substantial increase in open interest, which rose by 240% to a new all-time high of $998.55k, indicating growing excitement among derivative traders.

The speculation surrounding WhiteRock gained traction on social media platforms, particularly after unverified claims suggested that the cryptocurrency was partnering with Ripple to tokenize the oil supply chain of a major Saudi producer, reportedly Saudi Aramco. These claims were shared by a pseudonymous market watcher, who described the potential partnership as "the biggest deal in blockchain tokenization history." The post included a document supposedly signed by a Saudi official, which quickly gained over 254,000 views and pushed WHITE into trending searches on Google.

However, the authenticity of the document and the partnership has been called into question. The document references a "Sheikh Abdullah bin Khalid Al-Falih," a figure with no trace in official Saudi records, and features a signature that closely resembles that of an Iranian actress, Mahtab Keramati. Additionally, Saudi Aramco has made no announcements related to blockchain-based oil tokenization, and while the firm partnered with Ripple-affiliated SBI Holdings in 2023, that collaboration focused on general digital asset investments and did not involve XRP or tokenizing oil.

WhiteRock does have ties to Ripple’s ecosystem through its March 2025 launch on the XRP Ledger, aimed at institutional tokenized asset trading. However, there have been no references to oil-linked products in its official communications. Until verifiable confirmation emerges, the surge in WHITE appears to be sentiment-driven, with the token’s momentum heavily reliant on an unsubstantiated narrative. Without further validation, the rally may face downward pressure as the initial hype fades.

Since bottoming in March, WHITE is up over 280%. The speculative frenzy signals a rush of retail and derivatives traders betting on a high-profile alliance. The rally was fueled mainly by rumors circulating on social media platforms. Anonymouse trader Amonyx indicated WhiteRock is partnering with Ripple to tokenize oil supply chains—allegedly involving Saudi Aramco. The letter was allegedly signed by a Saudi government representative and referred to the “largest blockchain tokenization deal in history.”

However, none of the three companies involved—Ripple, WhiteRock, or Aramco—announced the deal. Investigation of the shared document raised grave concerns. The alleged signatory, “Sheikh Abdullah bin Khalid Al-Falih,” doesn’t appear on any official Saudi government records. Worse, a reverse image search reveals that the signature closely resembles that of Iranian actress Mahtab Keramati. Apart from that, Saudi Aramco has publicly announced no oil tokenization or blockchain collaboration save for its 2023 investment partnership with SBI Holdings—a venture that bypassed XRP or oil assets to some attention.

WhiteRock’s rally may be a reflection of market enthusiasm, but it’s essential to separate sentiment from reality. Without evidence-based confirmation, investors are in danger of pursuing an over-sensationalized story with flimsy supporting facts. The speculated Aramco connection looks speculative at best and, without confirmation, the recent momentum is vulnerable to correction.