Gemini Hints At Major XRP News: What’s In Store?

10 months ago 57

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Crypto exchange Gemini has set the crypto community abuzz with a series of enigmatic tweets heavily laced with references to XRP, inciting widespread speculation and eagerness among investors and traders. Notably, these tweets interwove the letters “X” and “R”, with phrases such as “Don’t forget about XRP,” “xcited about XRP,” and “xrriving shortly,” signaling possible new developments.

One tweet in particular, presenting a riddle, intensified the intrigue: “Can you solve this riddle? In the land of giants, I’m swift and small, when I run I don’t stall. Across borders, I freely roam, in markets near and far from home. What am I? The answer will be posted in 24 hours.”

Can you solve this riddle?

In the land of giants, I'm swift and small, when I run I don't stall. Across borders, I freely roam, in markets near and far from home. What am I?

The answer will be posted in 24 hours.

— Gemini (@Gemini) January 22, 2024

What Is The Solution To The XRP Riddle?

The riddle is widely interpreted by the community as describing XRP. The reference to being “swift and small” in the “land of giants” likely denotes the cryptocurrency’s notable speed and efficiency in the vast and competitive financial sector. The line “when I run I don’t stall” aligns with cryptocurrency’s reputation for fast, reliable transaction processing, often completed within seconds.

The phrase “Across borders, I freely roam” resonates with the cryptocurrency’s primary application in facilitating swift, cost-effective cross-border transactions. Finally, “in markets near and far from home” accentuates crypto’s extensive global reach, being utilized in diverse markets and nations worldwide.

Notably, the burgeoning anticipation is not without precedent. In August 2023, following Ripple Labs’ partial victory against the US Securities and Exchange Commission (SEC), Gemini reinstated XRP deposits and enabled trading, allowing transactions in various currency pairs, including USD, GBP, and EUR, although not offering custody for the asset.

Influential figures in the community, like Crypto Eri, have posited theories about Gemini’s cryptic communications. Eri speculated about the potential establishment of a new European Union joint venture for a spot XRP ETF, given Gemini’s recent authorization as a Digital Asset Service Provider (DASP) in France and its role as custodian for VanEck’s newly launched Spot Bitcoin ETF.

Eri conveyed through X, “All this business from Gemini. My guess (Let’s see how close I get) Fact: Gemini Named as Custodian / VanEck’s Newly Launched Spot Bitcoin ETF Fact: Gemini approved 5 Days ago in France as a Digital Asset Service Provider (DASP). A Guess: New EU JV for Spot XRP ETF.”

The community also drew parallels between the recent tweets and those from August 2023, which preceded the relisting of the crypto asset on Gemini, thereby reinforcing the anticipation of further enhancements to trading options.

Another theory is that Ripple could be teaming up with Gemini for a potential new partnership akin to other crypto exchanges like Bitso or Bitstamp. The exchange founded by the Winklevoss twins could be facilitating XRP transfers via Ripple Payments.

If the tweet of the riddle is decisive, the answer to the riddle could be announced tomorrow around 6:24 am UTC (1:24 ET). If the first tweet is the determining factor for the 24-hour deadline, the solution could be announced as early as 5:10 pm UTC (12:10 pm ET) today.

At press time, XRP traded at $0.52844.