Gemini’s Hint at Relisting Ripple’s XRP, Sends Waves of Excitement

In a momentous turn of events, XRP, the digital asset associated with Ripple, has achieved a resounding victory in its legal battle against the U.S. Securities and Exchange Commission (SEC). This landmark triumph has breathed new life into the coin, drawing institutional investors back into the fray. One such major player is Gemini, a renowned U.S. crypto exchange, which has dropped hints about relisting the powerful XRP coin on its platform.

Looking Back at the Controversy

For some time, XRP’s classification as a security remained a contentious issue, leading to its delisting from several leading crypto exchanges. This uncertainty rattled investors and traders alike. However, everything changed on July 13, 2023, when Judge Analisa Torres issued a Summary Judgment, ruling that XRP’s sale did not fall under the category of securities. This verdict triggered a surge of positivity in the market, with Coinbase and Kraken quickly reinstating XRP trading.

Now, the spotlight is on Gemini as the exchange gears up to reintroduce XRP trading on its platform. Following the court’s favorable ruling for Ripple, Gemini had hinted at the possibility of listing XRP for both spot and derivatives trading. Recently, the official Twitter account of Gemini responded to a query about the potential relisting with a suggestive ‘Thinking Face Emoji,’ sending waves of excitement among XRP supporters and investors.

Stability Returns!

The relisting of XRP on major exchanges like Coinbase and Kraken has already ushered in a more stable and reliable trading environment for the token. This enhanced accessibility is expected to promote long-term price stability, reducing the extreme price fluctuations experienced during the period of delistings.

Should Gemini proceed with the relisting, it could significantly impact XRP’s trading volumes and price. Following the legal victory, the token has already experienced a noteworthy surge of nearly 60%, and a relisting on a prominent exchange like Gemini would undoubtedly bolster its market appeal.

But Wait…Is SEC Going to Appeal?

However, the SEC’s recent announcement of its intention to appeal Judge Torres’s ruling has injected fresh uncertainty into the market, causing XRP’s price to retreat from its post-SEC vs. Ripple ruling high of $0.9337. Despite this setback, there is a bullish demand for XRP to reach $15 in the coming months, given Ripple’s partial triumph against the SEC.

With XRP currently trading at 0.77285987, it’s essential to closely monitor the latest developments surrounding the coin. The situation remains dynamic and could shift in response to further legal and market developments.

In the midst of these developments, Gemini’s co-founder and CEO, Cameron Winklevoss, has expressed bullish sentiment regarding Bitcoin accumulation. He highlighted a recent flurry of spot Bitcoin ETF filings, signaling a significant increase in Bitcoin acquisition.

With Gemini hinting at relisting the coin, the future of XRP appears promising, provided it navigates through the prevailing market uncertainties.