The cryptocurrency exchange Gemini, founded by the Winklevoss twins, has announced the addition of new XRP trading pairs to its platform. This move highlights the growing demand for Ripple’s native token and its expanding ecosystem.
Gemini’s Latest XRP Listing Announcement
In a recent update, Gemini revealed the listing of the XRP/GUSD perpetual contract on its Gemini Foundation platform. This enables users across 30+ countries to:
- Manage investment risks
- Generate potential returns
- Gain directional exposure to XRP
This development underscores the ongoing efforts to reintegrate XRP into major exchanges after years of regulatory challenges.
XRP’s Regulatory Journey
The token faced significant hurdles when the U.S. SEC sued Ripple Labs in 2020, alleging XRP was an unregistered security. This led to widespread delistings. However, a pivotal ruling in July 2023 by Judge Analisa Torres declared XRP non-security, reigniting exchange support.
👉 Discover how regulatory clarity impacts crypto markets
XRP Relisting Momentum Gains Traction
Following the court ruling, major platforms resumed XRP trading:
| Exchange | Key Actions |
|---|---|
| Coinbase | Relisted XRP with USD, USDT, and EUR pairs |
| Binance.US | Added XRP trading options alongside Kraken and Crypto.com |
| Gemini | Launched XRP pairs in USD, GBP, EUR, CAD, SGD, HKD, and AUD |
Gemini’s latest XRP perpetuals listing further solidifies this trend.
Price Impact of the Listing
Post-announcement, XRP’s price surged:
– Current price: $0.52 (+1.67% in 24 hours)
– Anticipated growth: Analysts predict a bullish rally in February 2024, driven by whale activity and exchange support.
👉 Explore trading strategies for XRP’s volatility
FAQs About Gemini’s XRP Listing
1. Which countries support XRP trading on Gemini?
Gemini offers XRP trading in 30+ jurisdictions, excluding regions with regulatory restrictions.
2. Why was XRP delisted previously?
The SEC’s lawsuit classified XRP as a security, prompting exchanges to halt trading until the 2023 court ruling clarified its status.
3. What are perpetual contracts?
Perpetual contracts are derivatives allowing traders to speculate on XRP’s price without expiration dates, using leverage.
4. How does relisting affect XRP’s price?
Increased exchange access typically boosts liquidity and demand, often leading to price appreciation.
5. Which other exchanges support XRP?
Major platforms like Binance, Kraken, and Crypto.com now offer XRP trading pairs.
6. Is XRP a good investment in 2024?
While market conditions vary, XRP’s relisting momentum and ecosystem growth suggest long-term potential.
Conclusion
Gemini’s XRP listing marks another milestone in the token’s recovery, reflecting broader market confidence. With regulatory clarity and expanding exchange support, XRP’s trajectory remains a key focus for crypto investors.
For real-time updates, traders can monitor Gemini’s official announcements and market trends.