Gemini, a leading cryptocurrency exchange, has announced support for the XRP Ledger (XRPL), marking a significant step in XRP’s resurgence. The exchange has enabled XRP deposits, with trading expected to launch soon.
Current XRP Market Status
- Price: $0.6294 (3.97% decline in 24 hours).
- Deposits: Only XRP deposits are live; trading pairs will follow.
"XRP is now available for deposits on Gemini. Trading support will follow soon."
— Gemini (@Gemini) August 10, 2023
Despite the listing, XRP’s price remains under bearish pressure, dropping 6% over the past week.
Why the Gemini Listing Matters for XRP
1. Regulatory Clarity Post-SEC Victory
XRP was delisted globally after the SEC’s 2020 lawsuit against Ripple Labs, alleging unregistered securities sales. Gemini’s relisting signals confidence in Ripple’s landmark legal victory, though an SEC appeal remains possible.
2. Gemini’s Rigorous Standards
Known for stringent listing requirements, Gemini’s approval underscores XRP’s compliance and legitimacy, boosting investor trust.
3. Expanded Liquidity and Adoption
The listing exposes XRP to Gemini’s user base, potentially increasing:
- Trading volume and liquidity.
- Institutional interest, aligning with Ripple’s traditional finance partnerships.
👉 Discover how XRP’s technology is transforming cross-border payments
FAQs About Gemini’s XRP Listing
Q1: When will XRP trading go live on Gemini?
A: Gemini confirmed trading will launch "soon" but hasn’t specified a date. Monitor their official channels for updates.
Q2: Does this mean XRP is fully compliant with U.S. regulations?
A: While Ripple’s court victory set a precedent, the SEC may appeal. Gemini’s move reflects cautious optimism.
Q3: How does this benefit long-term XRP holders?
A: Increased exchange support enhances liquidity, price stability, and mainstream adoption potential.
XRP’s Path Forward
Ripple’s focus on real-world utility—like bank partnerships and remittance solutions—complements exchange listings. With Gemini onboard, XRP’s ecosystem gains momentum despite market volatility.
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