Bitstamp Teases Major XRP Announcement, Market Hesitates

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In a cryptic transfer that has the XRP military speculating, Europe’s main cryptocurrency alternate, Bitstamp, has teased a major announcement associated to the token. The Luxembourg-based alternate made this recognized by way of a tweet that merely learn, “tomorrow,” accompanied by the XRP-themed hashtags #XRP, #XRPL and #XRPLedger and a suggestive video.

The video, a quick animation exhibiting an XRP rocket ascending, signifies that the forthcoming announcement may doubtlessly end in important information for the XRP Ledger, ultimately boosting the worth. Nonetheless, Bitstamp stopped wanting providing any specific hints about what this announcement would possibly entail, leaving the neighborhood buzzing with anticipation.

Tomorrow.#XRP #XRPL #XRPLedger pic.twitter.com/aZrKAjXK5j

— Bitstamp (@Bitstamp) August 2, 2023

What May Be Bitstamp’s Announcement?

XRP’s followers had been fast to reply, sharing their theories on what Bitstamp’s forthcoming announcement would possibly contain. Panos, the founding father of Digital Technology Finance, expressed his perception that Bitstamp might be set to announce a full integration with the XRP Ledger (XRPL). “The announcement may reveal that DEX has been linked to Bitstamp’s order e book, specializing in fiat ramps for funds,” Panos conjectured.

This notion was seconded by distinguished XRP neighborhood member @XRPcryptowolf, who additionally postulated that Bitstamp might be planning an XRPL integration.

In the meantime, one other XRP fan named @wEeZiE posited that Bitstamp’s announcement may need one thing to do with Ripple’s latest minority stake acquisition within the alternate. Again in Could, Ripple acquired a stake in Bitstamp in a bid to increase its worldwide operations and diversify its choices past funds.

A transcript of the Galaxy shareholder convention revealed on the time that Ripple had acquired the shares from Pantera Capital, one other crypto funding agency primarily based within the US. Pantera was one in all Bitstamp’s largest shareholders till 2018, when the alternate was acquired by Belgian funding agency NXMH. Nonetheless, it’s unclear how a lot Ripple paid for the acquisition or how the deal was structured.

“wEeZiE” said, “Recall Ripple president Monica Lengthy’s remark about Ripple’s latest stake acquisition in Bitstamp. She talked about that the transfer would strengthen Ripple’s worldwide presence and diversify its choices past funds. Maybe Bitstamp’s tease pertains to this?”

Remarkably, Bitstamp has been a significant Ripple gateway for years, granting purchasers entry to RippleNet and serving as a key accomplice for Ripple’s On-Demand Liquidity (ODL).

XRP Buyers Don’t Purchase The Information

At press time, the market has not reacted to the announcement of the announcement. Quite the opposite, XRP has misplaced key assist at $0.6760 and marked a brand new 3-week low following the abstract judgment within the US Securities and Change Fee (SEC) case.

For now, the worth has discovered assist on the 200 EMA (Exponential Shifting Common) at $0.6543. If this assist breaks as effectively, a plunge in the direction of $0.60 might be on the playing cards. On a bullish word, if Bitstamp’s announcement tomorrow can excite XRP traders, the $0.6760 stage could be the primary resistance. In case of a breakout, a spike as much as $0.7249 is probably going.