One of the major cryptocurrency exchanges, BitMEX, has sparked excitement in the XRP community with a cryptic post hinting at a Ripple-related update. The exchange teased that its upcoming announcement will create a “ripple effect” across the market, directly tagging Ripple, the well-known San Francisco-based blockchain company.
Interestingly, this post comes just days before CME Group is set to launch its regulated XRP futures on May 19.
BitMEX had already introduced an XRP perpetual swap (XRPUSD) back in February 2020 and launched its spot exchange in May 2022. As one of the top names in crypto derivatives, BitMEX’s involvement with XRP always grabs attention.
Some believe the upcoming news might involve Ripple USD, the stablecoin that Ripple launched in late 2024. This dollar-backed coin has already been listed on several major exchanges.
XRP Price Struggles to Gain Momentum
Despite all the hype, XRP’s price has not shown much strength lately. After a strong rally in late 2024 and early 2025, the coin’s momentum seems to be fading. Over the past week, XRP has only gone up by 0.3%, leaving many investors disappointed.
Many in the XRP community doubt that BitMEX’s mysterious announcement will bring any major changes to the market.
On top of that, Ripple is also dealing with legal issues. A U.S. district court recently rejected a joint motion for an indicative ruling and did not approve the previously agreed settlement with the SEC. Pro-XRP lawyer John Deaton called this legal twist a major “curveball” for Ripple supporters.