Gemini, a leading cryptocurrency exchange, has officially announced support for the XRP Ledger (XRPL), marking a significant milestone for the XRP community. The exchange has enabled XRP token deposits, with trading expected to commence shortly.
Current XRP Market Status
- Price: $0.6294 (down 3.97% in 24 hours).
- Deposits: Only XRP deposits are live at this stage.
- Trading: Gemini confirmed trading will "follow soon."
"We have exciting news! XRP is now available for deposits on Gemini. Trading support will follow extra soon."
— Gemini (@Gemini)
Despite the listing, XRP’s price continues a bearish trend, dropping 6% over the past week.
Why Gemini’s Listing Matters for XRP
XRP faced widespread delistings after the SEC’s 2020 lawsuit against Ripple Labs, alleging unregistered securities sales. Exchanges began relisting XRP following Ripple’s landmark legal victory in July 2023, where a court ruled XRP is not a security.
Gemini’s rigorous listing standards make this a notable endorsement for XRP’s legitimacy. The exchange’s move could:
- Boost Liquidity: Attract institutional and retail traders.
- Expand Adoption: Increase visibility in traditional finance sectors.
- Counter Uncertainty: Despite potential SEC appeals, the listing reinforces market confidence.
Ripple’s Strategic Growth
Ripple has aggressively pursued partnerships in both crypto and traditional finance. Its cross-border payment solutions are gaining traction, positioning XRP as a bridge currency for global transactions.
FAQ: Gemini’s XRP Listing
Q1: When will XRP trading start on Gemini?
A: Gemini has not specified a date but confirmed trading will begin "soon."
Q2: Why did XRP’s price drop despite the listing?
A: Broader market trends and profit-taking after Ripple’s legal win likely contributed.
Q3: Could the SEC appeal impact XRP’s listing?
A: Unlikely. Exchanges relisting XRP signal confidence in its non-security status.
Q4: How does Gemini’s listing benefit XRP holders?
A: Higher liquidity, new trading pairs, and enhanced credibility.
Q5: Is XRP available for withdrawal on Gemini?
A: Not yet. Only deposits are live; withdrawals will follow trading.
👉 Explore XRP’s latest developments
Key Terms: XRP Ledger, Ripple Labs, SEC lawsuit, cryptocurrency exchange, liquidity, relisting.