Gemini Relists XRP Token
Gemini relisted the XRP token after three years, allowing trading for USD, GBP, and EUR currencies. The exchange announced support for the XRP Ledger blockchain and opened Gemini API/FIX and ActiveTrader applications for XRP/USD trading pairs. The XRP price showed little reaction to the relisting news, as excitement died down in July 2023 due to Coinbase and Kraken resuming trade.
Gemini has made the XRP Ledger available for deposits on its platform, allowing trading for USD, GBP, EUR, CAD, SGD, HKD, and AUD pairs. The Gemini mobile app and website now support XRP trading for 14 blockchain networks, including Bitcoin, Ethereum, Solana, Dogecoin, and Litecoin. The native XRP token supports the XRP Ledger’s peer-to-peer network of nodes run by Ripple, which aims to reduce cross-border transactions and remittances costs. Ripple’s crypto solutions business uses the XRP token as a bridge currency, settling transactions in multiple fiat currencies for financial institutions.
(With inputs from Shikha Singh)
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