Luxembourg-based cryptocurrency exchange Bitstamp has intrigued the XRP community with a cryptic post featuring the XRP logo superimposed onto a full moon.
Accompanying the image was a caption stating, "I took this picture of the moon last night."
In cryptocurrency circles, "to the moon" is a widely used phrase indicating strong bullish sentiment and expectations of significant price increases.
The origins of this phrase are somewhat obscure, although it gained prominence within the crypto community, possibly originating from discussions on the Bitcointalk forum in 2013.
In December 2020, Bitstamp suspended XRP trading following legal challenges faced by Ripple with the U.S. Securities and Exchange Commission. However, trading resumed after a court ruling clarified XRP's status as non-securities.
For $XRP holders, achieving a "moon" scenario has been elusive, given the token's underperformance relative to the broader market over the past year. Despite a brief surge after regulatory clarity, XRP remains substantially down, approximately 87% from its peak in early 2018.
Ripple's strategic acquisition of a stake in Bitstamp last year aimed to diversify its operations and enhance its global presence.
In a separate development, pro-XRP exchange Bitrue sparked controversy by encouraging its users to heavily invest in the Ripple-affiliated token during a market correction.
In related news, commission-free trading platform Robinhood announced plans to acquire Bitstamp in 2025.
