XRP, the fifth-largest cryptocurrency by market cap, has finally been listed on Gemini, a leading US-based cryptocurrency exchange.
The new development was announced a while ago via the official Twitter handle of the exchange. According to the report, XRP is now available for deposits on Gemini, while trading support follows as determined by the exchange.
We have xciting news!
XRP is now available for deposits on Gemini. Trading support will follow xtra soon. 🤝 pic.twitter.com/f2EjxewRm0
— Gemini (@Gemini) August 10, 2023
Read Also: Just In: Coinbase to Relist XRP Following Ripple and XRP Big Win Against the SEC
The listing was hinted at via a cryptic tweet on the exchange’s official Twitter handle on August 9th. The tweet denoted Gemini’s excitement about XRP, which gave many enthusiasts the expectation of an upcoming listing.
Significant Feat For XRP Community
Obviously, this is a significant development for XRP and the community of members behind it, as it will now be available to trade on one of the most reputable and well-regulated cryptocurrency exchanges in the world.
Gemini Exchange is known for its strict compliance standards, and its listing of XRP is a vote of confidence in the cryptocurrency. This is likely to further boost XRP’s adoption by institutional investors and financial institutions.
The listing of XRP on Gemini Exchange is also a major coup for Ripple. The company has been working hard to gain acceptance from the traditional financial world, and this listing is a sign that its efforts are paying off.
With XRP now available on Gemini Exchange, it is poised to reach a wider audience of investors and traders. This is expected to lead to increased liquidity and trading volume for the cryptocurrency.
Read Also: Top U.S. Attorney Shares What Coinbase Stands to Lose If It Relists XRP Now
Listing On Gemini Not A Coincidence
This listing came in the middle of a lawsuit meant to determine the security status of XRP. Following the July 13th ruling that went in favor of XRP, several top crypto exchanges that initially delisted the digital token, including Coinbase, went on a relisting spree.
It’s worth noting that this is the first time XRP is being traded on Gemini, indicating that the listing is not just a coincidence, but a predetermined listing due to the asset’s regulatory clarity.
Although there is still a trial related to XRP security status between Ripple Labs and the U.S. SEC, the fact that XRP sales on exchanges have been declared not a security serves as confidence that resulted in the number of listings and relisting in recent weeks.
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