The Gemini exchange has recently recognized the leading digital currency by listing the XRP and GUSD pairs.
Gemini, the cryptocurrency exchange founded by the Winklevoss brothers, has declared its intention to add new XRP trading pairs to its platform.
Recent Update to the Gemini XRP Listing
The XRP/GUSD perpetual contract was reportedly added to the Gemini Foundation’s list on Friday, indicating the increasing attention directed toward the Ripple-associated ecosystem.
As a result, Gemini users across more than 30 countries will have the ability to utilize this service for risk management, return generation, and directional exposure.
This recent Gemini development further supports the notion that XRP relisting is in progress. Significantly, an earlier lawsuit filed by Ripple Labs Inc. against the United States Securities and Exchange Commission (SEC) impeded XRP’s presence on trading platforms.
In 2020, Ripple was subject to enforcement action by the regulator on the grounds that it had sold XRP as investment contracts; the ensuing lawsuit led to the platform’s delisting from multiple platforms.
Since then, the XRP ecosystem has attempted to operate beyond regulatory obstacles but has encountered additional obstacles. In contrast, Judge Analisa Torres ruled in July 2023 that the token does not qualify as a security, marking a turning point for XRP listing.
Multiple XRP Relisting Continues
Following a ruling stating that trading would recommence “if liquidity conditions are met,” Coinbase relisted the token. A phased introduction of trading on our XRP-USD, XRP-USDT, and XRP-EUR trading pairs will occur once an adequate supply of this asset has been established. There may be restrictions on XRP support in certain supported jurisdictions.
Gemini, Binance U.S., Kraken, and Crypto.com joined shortly after to relist XRP. Gemini introduced USD, GBP, EUR, CAD, SGD, HKD, and AUD XRP pairs upon relisting the XRP token; however, trading was not immediately enabled. In addition to other cryptocurrencies, leading cryptocurrency exchange Binance has announced intentions to offer spot trading pairs for XRP.
Gemini’s listing of XRP Perpetuals represents the most recent ecosystem development. Following the announcement of the listing, the price of XRP has increased substantially. As of the moment of composing this text, the token associated with Ripple was trading at $0.52, reflecting a 24-hour increase of 1.67%.
Anticipations are that the coin will experience improved performance in the coming weeks, as the parabolic price increase is said to begin in February.
