Leading cryptocurrency exchange Bitstamp is planning to make a significant announcement for XRP.
Bitstamp, a Luxembourg-based cryptocurrency exchange, has indicated plans to make a major announcement for XRP later today.
Bitstamp Teases Major Announcement for XRP
The leading crypto exchange posted a tweet with the caption “tomorrow.” It added several XRP-related hashtags, including XRP Ledger (XRPL).
Tomorrow.#XRP #XRPL #XRPLedger pic.twitter.com/aZrKAjXK5j
— Bitstamp (@Bitstamp) August 2, 2023
Interestingly, Bitstamp also attached a short video clip to the tweet, highlighting the exchange’s plans to take XRP to the next level. The video also displayed an XRP rocket making an upward movement.
This suggests that the announcement, once unveiled, could propel the price of XRP to spike tremendously. Meanwhile, Bitstamp did not drop further hints on what XRP community members should expect.
XRP Enthusiasts Guess
However, XRP enthusiasts have taken to the comment section to guess what the announcement is about.
Commenting on the development, Panos, the founder of Digital Generation Finance, speculated that Bitstamp may be planning to announce a full XRPL integration.
Full XRPL integration, DEX connected to your order book and with on/off fiat ramps with a focus payments?
— Panos ? {X} ? (@panosmek) August 2, 2023
He added that the exchange could announce that DEX has been connected to its order book, with on/off fiat ramps focusing on payments.
Prominent XRP enthusiast and Bitrue Ambassador XRPcryptowolf also suggested that the cryptocurrency exchange could be planning to integrate XRPL into its platform.
#XRP Ledger is coming for all crypto exchanges ?
— XRPcryptowolf (@XRPcryptowolf) August 2, 2023
Meanwhile, a fan of XRP named wEeZiE pointed out that Bitstamp has served as the gateway for facilitating access to the Ripple network.
He, however, suggested that the announcement could be related to Ripple’s minority stake acquisition in Bitstamp.
wEeZiE recounted Ripple president Monica Long’s remark about the company’s recent stake acquisition in Bitstamp. Recall that in May, Ripple acquired a minority stake in Bitstamp to expand its operations.
According to wEeZiE, Long said the acquisition would bolster Ripple’s international presence and diversify its offerings beyond payments.
"@Bitstamp has served as the gateway for facilitating access to the #RippleNet Network"
"@Ripple president Monica Long said the company's recent stake acquisition in European crypto exchange @Bitstamp will help further grow the company's international presence and… https://t.co/ciBL5DDE74
— wEeZiE {X}?FireGaryGensler (@NerdNationUnbox) August 2, 2023
Bitstamp’s Relationship With Ripple
It is worth noting that Bitstamp has served as a major gateway for Ripple, granting clients entry into RippleNet. Bitstamp is a long-standing partner for Ripple’s On-Demand Liquidity (ODL).
Ripple and other whales have moved huge amounts of XRP to and from Bitstamp for ODL-related purposes. As reported in June, Ripple moved 23 million XRP coins to Bitstamp.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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