Bitstamp, Europe’s leading cryptocurrency exchange, has sparked speculation among the XRP community with a cryptic announcement related to the token. The Luxembourg-based exchange made this announcement via a tweet that simply said “tomorrow,” accompanied by the XRP-related hashtags #XRP, #XRPL, and #XRPLedger, as well as a suggestive video.
The video, a short animation showing an ascending XRP rocket, suggests that the upcoming announcement could potentially lead to significant news for the XRP Ledger and ultimately drive the price up. However, Bitstamp refrained from providing explicit hints about what this announcement could entail, leaving the community in eager anticipation.
XRP supporters quickly responded, sharing their theories about what Bitstamp’s upcoming announcement could involve. Panos, the founder of Digital Generation Finance, expressed his belief that Bitstamp could be ready to announce a full integration with the XRP Ledger (XRPL). “The announcement could reveal that DEX is connected to Bitstamp’s order book, with a focus on fiat ramps for payments,” speculated Panos.
This idea was supported by prominent XRP community member @XRPcryptowolf, who also postulated that Bitstamp could be planning an XRPL integration.
Meanwhile, another XRP fan named @wEeZiE suggested that Bitstamp’s announcement could be related to Ripple’s recent minority stake acquisition in the exchange. Back in May, Ripple acquired a stake in Bitstamp to expand its international operations and diversify its offerings beyond payments.
A transcript of the Galaxy shareholder conference at the time revealed that Ripple had acquired shares from Pantera Capital, another US-based crypto investment firm. Pantera was one of the largest shareholders in Bitstamp until it was acquired by Belgian investment firm NXMH in 2018. However, it is unclear how much Ripple paid for the acquisition or how the deal was structured.
“wEeZiE” explained, “Recall Ripple President Monica Long’s comment on Ripple’s recent stake acquisition in Bitstamp. She mentioned that the move would strengthen Ripple’s international presence and diversify its offerings beyond payments. Maybe Bitstamp’s teasing is related to that?”
Notably, Bitstamp has been a major Ripple gateway provider for years, granting customers access to RippleNet and serving as a key partner for Ripple’s On-Demand Liquidity (ODL).
At the time of writing, the market has not reacted to the announcement. On the contrary, XRP has lost significant support at $0.6760 and marked a new three-week low following the summary judgment in the US Securities and Exchange Commission’s (SEC) case.
Currently, the price has found support at the 200 EMA (Exponential Moving Average) at $0.6543. Should this support be breached as well, a crash towards $0.60 could be on the horizon. From an optimistic standpoint, if tomorrow’s announcement from Bitstamp can excite XRP investors, the $0.6760 level would be the first resistance. In the event of a breakout, a rise to as high as $0.7249 is likely.
Overall, the XRP community eagerly awaits Bitstamp’s announcement, hoping for positive news that could potentially influence the token’s price and provide further insights into its future trajectory.
