As a seasoned crypto investor with a keen interest in XRP, I find the recent cryptic post by Luxembourg-based exchange Bitstamp intriguing. The image of the full moon with the XRP logo superimposed on it and the caption “I took this picture of the moon last night” has left many in the community puzzling over its meaning.
Bitstamp, the cryptocurrency exchange based in Luxembourg, has left the XRP community perplexed by posting an enigmatic image on their social media platforms. The intriguing snapshot features the XRP symbol overlaid on a radiant full moon.
The exchange captioned their post with “This is a photo of the moon I took last night.”
As a researcher studying the cryptocurrency market, I’ve noticed that the term “to the moon” is frequently used in this community to express strong optimism about a potential price surge. This colloquial expression signifies the belief that the value of a particular crypto asset is about to experience significant and rapid appreciation.
The source of this term isn’t definitively known as it wasn’t exclusively coined in cryptocurrency circles, but it is widely assumed that it was initially employed in this context in a 2013 post on the renowned Bitcointalk forum.
In December 2020, Bitstamp was the first significant cryptocurrency exchange to halt XRP trading due to Ripple‘s ongoing legal disputes with the U.S. Securities and Exchange Commission (SEC). Subsequently, in July 2021, following Judge Analisa Torres’ decision that secondary sales of XRP were not classified as securities, Bitstamp restored trading for the token.
As an XRP investor, I can tell you that the term “mooning” might be unfamiliar to us given the lackluster performance of our token over the past year. After a short-lived surge following the Torres ruling, there has been no clear signs of bullish momentum. The current price is still a stark 87% below its all-time high which was achieved in early 2018.
Last year, Ripple purchased a share in the globe’s longest-operating exchange to broaden its business scope and enhance Ripple’s global profile.
As a financial analyst, I’d rephrase it like this: Lately, Bitrue, an exchange favorable to XRP, caused quite a stir by urging their users to heavily invest in the Ripple-linked token during a market downturn.
In other news, commission-free Robinhood announced that it would acquire Bitstamp in 2025.
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2024-07-08 18:22