Bitstamp Teases Major XRP Announcement, But The Market Hesitates
August 03 2023 - 9:00AM
NEWSBTC
In a cryptic move that has the XRP army speculating, Europe’s
leading cryptocurrency exchange, Bitstamp, has teased a significant
announcement related to the token. The Luxembourg-based exchange
made this known via a tweet that simply read, “tomorrow,”
accompanied by the XRP-themed hashtags #XRP, #XRPL and #XRPLedger
and a suggestive video. The video, a brief animation showing an XRP
rocket ascending, indicates that the forthcoming announcement could
potentially result in significant news for the XRP Ledger,
eventually boosting the price. However, Bitstamp stopped short of
offering any explicit hints about what this announcement might
entail, leaving the community buzzing with anticipation.
Tomorrow.#XRP #XRPL #XRPLedger pic.twitter.com/aZrKAjXK5j —
Bitstamp (@Bitstamp) August 2, 2023 What Might Be Bitstamp’s
Announcement? XRP’s followers were quick to respond, sharing their
theories on what Bitstamp’s forthcoming announcement might involve.
Panos, the founder of Digital Generation Finance, expressed his
belief that Bitstamp could be set to announce a full integration
with the XRP Ledger (XRPL). “The announcement could reveal that DEX
has been connected to Bitstamp’s order book, focusing on fiat ramps
for payments,” Panos conjectured. Related Reading: Here’s The Total
Number Of XRP That Ripple Currently Holds This notion was seconded
by prominent XRP community member @XRPcryptowolf, who also
postulated that Bitstamp could be planning an XRPL integration.
Meanwhile, another XRP fan named @wEeZiE posited that Bitstamp’s
announcement might have something to do with Ripple’s recent
minority stake acquisition in the exchange. Back in May, Ripple
acquired a stake in Bitstamp in a bid to expand its international
operations and diversify its offerings beyond payments. A
transcript of the Galaxy shareholder conference revealed at the
time that Ripple had acquired the shares from Pantera Capital,
another crypto investment firm based in the US. Pantera was one of
Bitstamp’s largest shareholders until 2018, when the exchange was
acquired by Belgian investment firm NXMH. However, it is unclear
how much Ripple paid for the acquisition or how the deal was
structured. Related Reading: XRP To Skyrocket To $500 Within 7
Months, Predicts Wells Fargo Treasury Manager “wEeZiE” stated,
“Recall Ripple president Monica Long’s comment about Ripple’s
recent stake acquisition in Bitstamp. She mentioned that the move
would strengthen Ripple’s international presence and diversify its
offerings beyond payments. Perhaps Bitstamp’s tease pertains to
this?” Remarkably, Bitstamp has been a major Ripple gateway for
years, granting clients access to RippleNet and serving as a key
partner for Ripple’s On-Demand Liquidity (ODL). XRP Investors Don’t
Buy The News At press time, the market has not reacted to the
announcement of the announcement. On the contrary, XRP has lost key
support at $0.6760 and marked a new 3-week low following the
summary judgment in the US Securities and Exchange Commission (SEC)
case. For now, the price has found support at the 200 EMA
(Exponential Moving Average) at $0.6543. If this support breaks as
well, a plunge towards $0.60 could be on the cards. On a
bullish note, if Bitstamp’s announcement tomorrow can excite XRP
investors, the $0.6760 level would be the first resistance. In case
of a breakout, a spike up to $0.7249 is likely. Featured image from
Twitter, chart from TradingView.com
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