Bitstamp Preps Major XRP Announcement Following Ripple Lawsuit

Bitstamp’s upcoming XRP announcement sparks anticipation following Ripple’s stake acquisition and court ruling’s impact.

News boy spreading the word on the street for XRP, Brad Garlinghouse is happy.
Created by Kornelija Poderskytė from DailyCoin
  • A favorable court ruling against the SEC has led to XRP’s relisting on multiple exchanges.
  • Bitstamp has expanded its services related to XRP.
  • Anticipation has been mounting over Bitstamp’s upcoming announcement on XRP.

Bitstamp, the first exchange to delist XRP following the Ripple lawsuit in December 2020, is now gearing up to reveal a momentous update concerning the cryptocurrency. This comes in the wake of a renewed surge in interest for XRP, thanks to a favorable court ruling against the Securities and Exchange Commission (SEC). 

As a result of this ruling, various other exchanges, such as Coinbase and Kraken, have relisted XRP alongside Bitstamp. 

XRP Community Buzzes with Anticipation for Upcoming Bitstamp Announcement

Earlier this year, Bitstamp took strides to bolster its services related to XRP. The exchange took a momentous step by announcing its support for Euro-backed IOUs on the XRP Ledger, furthering its commitment to facilitating international transactions through XRP. 

As part of this initiative, Bitstamp enticed its users with a limited-time promotion, allowing them to conduct IOU transfers with zero transfer fees from Jan. 26 to March 27, encouraging the adoption and utilization of this novel functionality.

Given this series of noteworthy developments, the upcoming announcement from Bitstamp regarding XRP has generated palpable excitement within the XRP community. 

Ripple Labs Strengthens Its Position with Stake in Bitstamp

Ripple Labs, the entity behind XRP, recently acquired a minority stake in Bitstamp. This move, brought to light by blockchain investment firm Galaxy Digital, aligns with Ripple’s broader vision of fortifying its presence within the digital asset exchange landscape. The acquisition was made from Pantera Capital, a crypto-focused hedge fund.

While the specific details of the announcement remain shrouded in uncertainty, one thing is evident: Bitstamp’s relationship with XRP has undergone a substantial transformation since it decided to delist the cryptocurrency back in late 2020. 

On the Flipside

  • The court ruling might have prompted relisting on various exchanges, including Bitstamp, but the legal journey for XRP is far from over.
  • This journey from delisting to potential groundbreaking news highlights the cryptocurrency landscape’s dynamic and sometimes unpredictable nature.

Why This Matters

As one of Europe’s leading digital asset exchanges, Bitstamp’s evolving relationship with XRP signals a potential shift in the perception of the cryptocurrency within the industry. Therefore, Bitstamp’s imminent announcement regarding XRP holds paramount importance for the crypto ecosystem.

To learn more about Ripple CEO’s reflections on transparency and its implications amidst the SEC case, read here:

Ripple’s CEO Reflects on Transparency as a Double-Edged Sword Amid SEC Case

To debunk misconceptions surrounding the recent SEC vs. XRP ruling, check out this informative report by Ripple:

Ripple Debunks Misconceptions Surrounding SEC vs XRP Ruling in Report

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.