Luxembourg-based cryptocurrency exchange Bitstamp has sparked excitement in the XRP community with a teaser tweet suggesting a major announcement concerning XRP. The tweet, posted on August 2, features a short video clip with the caption “tomorrow” and XRP-related hashtags, including XRP Ledger (XRPL).
The video clip hints at taking XRP to the next level, with an interesting scene of an XRP rocket moving upward. Many XRP enthusiasts and community members have been speculating about what this announcement could entail.
One member of the XRP community, Panos, the founder of Digital Generation Finance, suspects that Bitstamp may be planning to announce a full integration of XRPL. He also suggests that the exchange could announce the connection of their decentralized exchange (DEX) to order books, along with on/off fiat ramps and a focus on payments.
Bitrue Ambassador XRPcryptowolf, another XRP enthusiast, believes that Bitstamp is integrating XRPL into its platform. This integration would further solidify the partnership between Bitstamp and Ripple, as Bitstamp has previously served as a gateway for facilitating access to the RippleNet network.
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Another user named “wEeZiE” points out that Bitstamp’s teaser may be related to Ripple’s minority stake acquisition in Bitstamp. Ripple president Monica Long has stated that this acquisition will help grow Ripple’s international presence and diversification beyond payments. This suggests a deep relationship between Bitstamp and Ripple.
Bitstamp has certainly played a significant role in the XRP ecosystem, acting as a gateway for Ripple clients to access RippleNet and Ripple’s On-Demand Liquidity (ODL) service. This partnership has seen significant XRP transfers between Bitstamp and Ripple for ODL-related purposes. The movement of 100 million XRP ($51 million at the time) between Bitstamp and Binance before the unlocking of 1 billion tokens in June is just one example.
Despite the anticipation surrounding the announcement, the XRP price has not reacted positively, experiencing a 4.4 percent fall in the last 24 hours, bringing the price to $0.665672. Over the last seven days, XRP has declined by 7 percent. However, it’s worth noting that XRP recently staged a considerable surge to reach $0.93, resulting in a 30-day gain of 36 percent. Currently, XRP has a resistance level of $0.720238 and a support level of $0.635693.
Some analysts believe that XRP could reach a maximum of $1.20 by the end of the year. However, Wells Fargo Treasury Manager Shannon Throp has a more optimistic outlook, suggesting that XRP could trade between $100 and $500 in just seven months.
Overall, the XRP community eagerly awaits Bitstamp’s announcement, hoping that it will bring about positive developments for XRP and the wider ecosystem. Regardless of the outcome, this announcement highlights the deep relationship between Bitstamp and Ripple, and the significant role both entities play in the world of cryptocurrency.
