Gemini to Offer XRP Perpetual Contracts
The US-based cryptocurrency exchange, Gemini, has announced that it will soon be offering XRP perpetual contracts to its customers. These contracts allow traders to speculate on the future price of XRP without an expiration date.
Hinting at Ripple’s Token
Gemini’s announcement comes after a series of cryptic tweets that mentioned Ripple’s token. The tweets included phrases like “Don’t forget about xrp” and “xcited about xrp,” leading the crypto community to speculate on what move Gemini might be making. Some have suggested that filing for a spot XRP ETF could be a possibility.
Previous Riddles and Relisting
This isn’t the first time Gemini has posted such riddles related to XRP. In August last year, shortly after Ripple’s court victory against the SEC, Gemini re-listed XRP on its platform along with other exchanges like Kraken, Coinbase, Crypto.com, and Bitstamp.
XRP Slump and Market Correction
Despite Gemini’s announcement, XRP has been experiencing a decline recently. It has dropped 3% in the last 24 hours and nearly 10% over the past week. This slump aligns with the broader market correction that has affected major cryptocurrencies like Bitcoin, Ethereum, Solana, and Cardano.
Hot Take: Gemini Expands XRP Services Amid Market Downturn
Gemini’s decision to offer XRP perpetual contracts comes at a time when the cryptocurrency market is experiencing a downturn. While this move may seem counterintuitive, it could present an opportunity for traders looking to speculate on XRP’s future price. By expanding its services involving XRP, Gemini is positioning itself to cater to the demand for XRP trading despite the current market conditions. This move could potentially attract more users to the platform and contribute to the growth of the XRP ecosystem.
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