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XRP, the fifth-largest cryptocurrency by market value, has finally been listed on Gemini, a leading US-based cryptocurrency exchange. The announcement was made through the exchange’s official Twitter account. According to the report, XRP can now be deposited on Gemini and trading support will follow as determined by the exchange.
The listing was hinted at in a cryptic tweet on August 9th from Gemini’s official X (Twitter) account. The tweet showcased Gemini’s excitement about XRP, creating anticipation for an upcoming listing among many enthusiasts.
A Significant Achievement for the XRP Community
Clearly, this listing is a significant development for XRP and its community of supporters, as it can now be traded on one of the world’s most reputable and well-regulated cryptocurrency exchanges. Gemini Exchange is known for its strict compliance standards, and the listing of XRP is a testament to the trust placed in the cryptocurrency. This could further enhance the adoption of XRP by institutional investors and financial institutions.
The listing of XRP on Gemini can also be seen as a major achievement for Ripple. The company has been working hard to gain acceptance from the traditional financial world, and this listing can be interpreted as a validation of their efforts.
With XRP now available on Gemini, it appears to be poised to reach a wider audience of investors and traders. This is expected to lead to increased liquidity and trading volume for the cryptocurrency.
Gemini Listing is Not a Coincidence
This listing comes amidst a lawsuit to determine the security status of XRP. Following a favorable ruling on July 13th in favor of XRP, several top-tier cryptocurrency exchanges, including Coinbase, which initially delisted the cryptocurrency, have embarked on a frenzy of relistings. The fact that XRP is now being traded on Gemini for the first time indicates that the listing was not just a coincidence but a predetermined one due to the regulatory clarity surrounding the asset.
Although there is an ongoing lawsuit between Ripple Labs and the US SEC regarding the security status of XRP, the declaration that XRP sales on exchanges are not securities provides a level of confidence that has resulted in a surge of listings and relistings in recent weeks.
