Crypto News: XRP Relisted on Gemini
After three years, crypto exchange Gemini has relisted the XRP token, allowing trading for several currency pairs. The exchange now supports the XRP Ledger blockchain, with trading pairs available for USD, GBP, and EUR. Despite the relisting, the XRP price did not show much reaction, as excitement had already died down after Coinbase and Kraken resumed trading in July 2023.
Main Breakdowns:
- Gemini relists XRP token after three years
- XRP trading pairs available for USD, GBP, and EUR
- XRP price unaffected by relisting
- Gemini supports 14 blockchain networks, including XRP Ledger
- Ripple’s partnerships in the US may expand following the relisting
Earlier on Thursday, the XRP token became available for deposits on the Gemini platform. The exchange announced that its mobile app and website now support XRP trading for multiple currency pairs, including USD, GBP, EUR, CAD, SGD, HKD, and AUD. While users can store XRP in the Gemini exchange wallet, it is not yet available in Gemini Custody.
The XRP Ledger is supported by Ripple, which has a range of products aimed at reducing the cost and time of cross-border transactions. XRP serves as a bridge currency and is used to settle transactions in multiple fiat currencies for financial institutions. The relisting of XRP by US-based exchanges opens up new opportunities for Ripple’s partnerships in the country, following a favorable ruling in the Ripple Vs SEC lawsuit.
Hot Take:
The relisting of XRP on Gemini provides renewed hope for Ripple’s future in the US market. With the support of major exchanges, Ripple can continue to expand its partnerships and offer solutions for faster and cheaper cross-border transactions. While the XRP price did not immediately react to the relisting, it signifies a step forward in the recovery of the token’s reputation and market presence.
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