After the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple in 2020, leading to the delisting of XRP on the Gemini Exchange, the cryptocurrency has been relisted today. However, the relisting of XRP on Gemini has not led to any price increase, as XRP has lost nearly 4% in value in the past 24 hours and is currently trading at around $0.63.
Gemini Exchange Relists XRP
Following the SEC’s lawsuit against Ripple in 2020, XRP was delisted from several cryptocurrency exchanges, including Gemini. However, the recent court ruling on the Ripple case has prompted many exchanges to relist XRP, including Gemini.
On July 13th, after a US judge ruled that Ripple’s XRP sales did not qualify as investment contracts, Gemini announced that it was considering relisting XRP and would conduct further research on the matter. Today, XRP has been relisted on the Gemini Exchange.
XRP Continues to Decline Despite Relisting
The cryptocurrency market has experienced a decline this morning, with Bitcoin dropping below $30,000 and causing many altcoins to lose value. The total market capitalization of the crypto ecosystem has fallen to $1.17 trillion, according to CoinMarketCap (CMC). XRP has also experienced a downward trend and lost value.
Despite being relisted on Gemini, XRP has not seen any significant price increase. In the past 24 hours, XRP has lost nearly 5% of its value and is currently trading at around $0.63.
According to CMC data, XRP is among the cryptocurrencies with the highest percentage decrease in market value after the recent declines. Additionally, XRP’s market capitalization has dropped from $44 billion to $33 billion in recent weeks.
