Gemini, a U.S.-based cryptocurrency exchange, has recently launched a series of social media posts that have set the XRP community abuzz. This surge in activity began with a post subtly bringing XRP into the spotlight, followed by increasingly direct messages that have captivated investors and analysts alike. This campaign, marked by the cryptic hint that something exciting related to the token is “arriving shortly,” has led to widespread speculation about what Gemini might unveil.

XRP’s Influencers Weigh In on Gemini’s Focus

In the wake of Gemini’s intriguing posts, notable XRP community members, including Eri, a recognized YouTuber, have quickly offered theories. Eri points to Gemini’s recent designation as the custodian for VanEck’s Bitcoin ETF and its approval to operate as a Digital Asset Service Provider in France as potential indicators of a forthcoming significant development, possibly an XRP-related ETF. Meanwhile, other influencers like Ashley Prosper suggest Gemini might be gearing up to introduce the token on its recently launched French exchange platform.

While Gemini’s campaign indicates a potential pivot towards XRP, BlackRock, the asset management behemoth, has reportedly decided against launching an XRP ETF.

This decision is attributed to the ongoing SEC v. Ripple lawsuit and the resulting regulatory uncertainty surrounding the token despite a ruling that it is not an “investment contract.” BlackRock’s cautious stance underlines the complex regulatory environment in which XRP currently operates.

SEC v. Ripple Legal Battle and Its Implications

The SEC’s lawsuit against Ripple, still ongoing in 2024, plays a significant role in the future of XRP. Ripple’s recent response to the SEC’s motion to compel and the case’s progression is closely watched by the XRP holder community. The lawsuit’s outcome is expected to provide much-needed clarity on the token’s regulatory status, which could influence major investment decisions by firms like BlackRock.

Adding to the intrigue, Gemini‘s latest social media activity included a riddle that subtly referenced XRP, further igniting speculation among community members.

The nature of the riddle, pointing to features characteristic of XRP, suggests that Gemini’s announcement could be closely tied to the digital asset. This approach mirrors Gemini’s past strategies, where social media teasers preceded significant platform updates.

Read Also: Grayscale Brings New Twist to Spot Bitcoin ETF Marketing War

The post XRP Campaign by Gemini Fuels Speculation of Major Development appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am