Tuesday, April 23, 2024
HomeAltcoinsCrypto Exchange Gemini relists XRP token

Crypto Exchange Gemini relists XRP token

On 10 August, the cryptocurrency exchange Gemini relisted the XRP token after three years and trading is now open for numerous currency pairs, including the USD, GBP and EUR. 

The exchange also declared support for the XRP Ledger blockchain and the XRP/USD trading pairings are now open on the Gemini API/FIX and ActiveTrader applications. 

XRP price did not respond significantly to the news of the relisting as the news get subsided in July 2023 after Coinbase and Kraken, two American-based exchanges, resumed trading.

As per the latest report, the cryptocurrency was made accessible for deposits on the platform earlier on Thursday. 

Moreover, the Gemini team said in a statement that XRP trading is now supported for USD, GBP, EUR, CAD, SGD, HKD and AUD pairs on the Gemini mobile app and website. The statement stated that the tokens may be kept in the Gemini exchange wallet but yet not accessible in Gemini Custody.

Due to the addition of XRP Ledger, Gemini platform is now compatible with 14 different blockchain networks like Dogecoin (DOGE), Litecoin (LTC), Solana (SOL) and XRP Ledger. 

The native XRP cryptocurrency supports the XRP Ledger through a peer-to-peer network of nodes managed by Ripple. The crypto solutions division of Ripple, powered by XRP, offers a variety of services.

Ripple products reduce the cost and time required for international transfers, while the token serves as a currency bridge. Financial institutions utilise the XRP cryptocurrency to settle transactions in a variety of fiat currencies.

The relisting of XRP by US-based exchanges marks the beginning of a brand-new chapter for Ripple’s collaborations in the nation. 

Moreover, officials from the business recently disclosed that they had been re-examining options, after receiving relief from the historic Summary Judgement in the Ripple v. SEC litigation regarding the retail sale of the tokens.

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