Gemini, a leading crypto exchange, has posted cryptic messages on social media, hinting at possible developments related to XRP. The XRP community has speculated that Gemini may be planning to launch a Spot XRP ETF in the European market following its approval as a DASP in France and its role as a custodian for VanEck’s Spot Bitcoin ETF.
Gemini has historically been critical of XRP, the native token of the Ripple network, which aims to facilitate cross-border payments and remittances.
In 2020, Tyler Winklevoss publicly clashed with XRP supporters, calling some of them “dumb” trolls. Gemini also delisted XRP from its platform in 2021, following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple, alleging that XRP was an unregistered security.
However, Gemini’s attitude towards XRP seems to have changed in recent months, as the exchange has taken steps to reintegrate XRP into its platform and explore new opportunities in the XRP market.
A New Interest in XRP
Gemini’s recent social media posts have ignited speculation within the XRP community, hinting at potential developments related to the digital asset XRP. While the posts remain cryptic, phrases such as “xrriving shortly” and “xcited about xrp” have triggered significant interest and conjecture among followers and market analysts.
Prominent figures within the XRP community, including influencers like Crypto Eri, have suggested that Gemini’s enigmatic posts could allude to a new joint venture involving XRP and the European Union.
This speculation stems from Gemini’s recent approval as a Digital Asset Service Provider (DASP) in France and its role as a custodian for VanEck’s recently launched Spot Bitcoin ETF.
These developments have led some to speculate that Gemini may be poised to play a pivotal role in creating a Spot XRP ETF within the European market.
Members of the XRP community have drawn comparisons between Gemini’s current social media activity and its actions in August 2023, when the exchange relisted XRP for trading.
This move allowed XRP trading in various currency pairs, including USD, GBP, and EUR, following a favorable Ripple v. SEC case ruling. The community is now abuzz with the expectation that Gemini’s recent approval in France could pave the way for further expansion of XRP trading options on the platform.
While Gemini’s recent social media activity remains cryptic, it has undoubtedly piqued the curiosity of the XRP community. The choice of words and phrases, such as “xrriving shortly” and “xcited about xrp” have sparked widespread speculation and debate.
Some have interpreted the posts as a confirmation that Gemini is planning to launch a Spot XRP ETF in the European market, following the footsteps of VanEck’s Spot Bitcoin ETF, for which Gemini serves as a custodian. A Spot XRP ETF would allow investors to gain exposure to the price of XRP directly without having to deal with the complexities and risks of buying and storing XRP themselves.
Others have taken a more cautious approach, suggesting that the posts could be a marketing strategy to generate hype and attention for Gemini and XRP without any concrete plans or announcements. Some have also pointed out the regulatory hurdles and challenges that Gemini would face in launching a Spot XRP ETF, especially in the U.S., where the SEC has not approved any crypto ETFs yet.
Gemini has not confirmed or denied any of the speculations, leaving the XRP community in suspense and anticipation. The exchange has not revealed the exact meaning or purpose of its cryptic posts nor the date or time of any potential announcements or developments.
The XRP community awaits further clues and updates from Gemini as the exchange continues to tease XRP developments.
