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BitMEX, a major cryptocurrency derivatives exchange, has stirred excitement in the XRP community with a cryptic post hinting at a Ripple-related announcement. The exchange stated the news would cause "a ripple effect" and tagged Ripple’s official account, fueling speculation ahead of the CME Group’s launch of regulated XRP futures on May 19.
While the exact nature of BitMEX’s announcement remains unclear, some speculate it may involve Ripple USD, the new dollar-pegged stablecoin launched in late 2024. Ripple USD has already debuted on several exchanges, further adding to the intrigue.
BitMEX has a history with XRP, having introduced a perpetual swap for the token (XRPUSD) in February 2020. The platform, known for its derivatives products, also launched its spot exchange in May 2022. Now, its renewed focus on XRP suggests a potential strategy to leverage renewed interest in the asset.
However, despite the buzz, XRP's price action remains lackluster. After a strong rally in late 2024 and early 2025, the cryptocurrency has lost momentum, recording just a 0.3% gain over the past week. Many holders are skeptical that BitMEX's teaser will result in meaningful market movement.
Adding to XRP’s challenges, Ripple recently faced a legal hurdle. A district court denied a joint motion for an indicative ruling in its ongoing SEC case, casting doubt on a previously agreed settlement. Pro-XRP attorney John Deaton labeled the decision a “curveball,” signaling ongoing uncertainty for the blockchain firm.
As the XRP community awaits further updates, all eyes are on BitMEX and the upcoming CME XRP futures launch to see whether they can revive investor sentiment and trading volume.
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