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Previously bitcoin known for its stance against XRP, the US-based cryptocurrency exchange Gemini has recently made multiple social media posts that have excited the XRP community. The increase in activities related to XRP began with a post by Gemini that highlighted the altcoin. This was followed by a surge in comments from investors and analysts. A cryptic hint in a campaign announcement about something “coming soon” specific to XRP has sparked rumors about Gemini’s intentions.
Gemini and XRP Plan
Following Gemini’s mysterious post, several well-known XRP supporters on YouTube, including Eri, started to quickly develop theories about the matter.
Eri pointed out that Gemini was recently recognized as the responsible entity for VanEck’s Bitcoin ETF and was also granted the ability to operate as a Digital Asset Service Provider in France. Consequently, the analyst believes that an XRP-related ETF might be among the upcoming significant developments.
Another prominent figure, Ashley Prosper, speculated that Gemini might soon be starting preparations to promote the token on the newly launched French crypto platform.
While Gemini’s campaign has reignited investor interest in XRP, asset management giant BlackRock recently stated that they have no plans to launch an XRP ETF.
BlackRock’s statement reflects the lack of trust due to the ongoing SEC v. Ripple case and regulatory uncertainties about whether XRP is a “security.” BlackRock’s approach to XRP mirrors the current climate of uncertainty surrounding the altcoin.
SEC and Ripple Case
As the calendar shows the year 2024, the case between the SEC and Ripple has been ongoing for over three years and continues to play a significant role in the future of XRP.
The outcome of the case is expected to influence major investments by large asset management firms like BlackRock and could also shape the future of the token.
In addition to these events, Gemini’s latest post contained a riddle that subtly referenced XRP, further fueling rumors among community members.
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