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- BitMEX tags Ripple in a cryptic post hinting at a major XRP-related update ahead of CME’s XRP futures launch.
- Speculation grows as Ripple USD stablecoin may be part of BitMEX’s upcoming announcement.
- Despite the buzz, XRP’s price remains flat as legal uncertainties continue to weigh on investor sentiment
Many in the XRP community are now speculating after BitMEX shared a message that hints at a critical Ripple development. The exchange mentioned that their upcoming reveal would cause a “ripple effect” on the market and mentioned Ripple in the post, leading to much immediate interest.
Given that CME is supposed to launch its regulated XRP futures on May 19, this message is intriguing. Analysts suggest that BitMEX may be working hard to outrun the rising desire to trade XRP derivatives.
The exchange, BitMEX, was involved with XRP in the past. In February 2020, it introduced a continuous contract for shopping and trading and, in May 2022, moved into spot trading. Investors now wonder if Ripple’s integration might go further by including its Ripple USD offering and other related products.
By late 2024, the Ripple stablecoin had made progress by appearing on various crypto exchanges. Many theorize that BitMEX will add new stablecoin pairs or include them in listings since its announcement came after the Ripple teaser.
Market Unmoved as Community Awaits Clearer Signals
While many are excited about XRP, its price does not reflect the energy. Over the last seven days, the token rose just 0.3 percent, showing that it has lost steam since its impressive growth late last year and early this year.
Many people who own XRP do not believe that BitMEX’s announcement will change the token’s price. In the past few days, a U.S. district court decision denied a motion to dismiss the SEC’s lawsuit against Ripple. With the sudden denial of protection, the market’s trust in legal matters declined.
BitMEX’s teaser has attracted considerable attention, particularly because it appeared at the right moment and mentioned Ripple. But as CME prepares to roll out XRP futures, traders are observing to determine whether this will significantly affect the XRP market.
Before CME’s XRP futures launch, BitMEX’s teaser about Ripple boosted speculation in the market. The crypto community hopes the exchange’s announcement is more than a buzz.
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