Breaking: Gemini Relists XRP Token, Opens Support For XRP Ledger (XRPL)
Crypto News: After three years, crypto exchange Gemini on Thursday relisted XRP token and trading is active for several pairs including USD, GBP and EUR currencies. The exchange announced support for the XRP Ledger blockchain, with the Gemini API/FIX and ActiveTrader applications open for XRP/USD trading pairs. Meanwhile, the XRP price did not show much reaction to the relisting news, as the relisting excitement died down in July 2023 following the resumption of trade by United States based Coinbase and Kraken.
Also Read: XRP Advocate Deaton Challenges SEC’s Ripple Verdict Appeal Igniting Legal Debate
XRP Trading Pairs On Gemini
Earlier on Thursday, CoinGape reported that the token was made available for deposits on the platform. The Gemini team released a statement on the relisting announcement, stating that the Gemini mobile app and website now supports XRP trading for USD, GBP, EUR, CAD, SGD, HKD, and AUD pairs. The tokens can be stored in Gemini exchange wallet but is not yet available in Gemini Custody, it said.
Gemini XRP Trading Active
The support for XRP Ledger now makes Gemini a platform with compatibility for 14 blockchain networks, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC). With a peer-to-peer network of nodes run by Ripple, the XRP Ledger is supported by the native XRP token. Ripple, armed by XRP, has a range of products in its crypto solutions business. The Ripple products work on reducing the cost and time taken for cross-border transactions and remittances while the token works as a bridge currency. The XRP token is used to settle transactions in multiple fiat currencies for financial institutions.
The XRP relisting by US based exchanges reopens a new chapter for Ripple’s partnerships in the country. Recently, the company’s officials revealed they have been re-exploring opportunities following the historic Summary Judgment in the Ripple Vs SEC lawsuit handing it a relief when it comes to retail sale of the tokens.
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