Ripple News Today: Gemini Fuels 20% XRP Price Rally

XRP has recently become the talk of the crypto community, attracting the attention of the prominent U.S. exchange Gemini. Yesterday, XRP hit a three-month high with a nearly 20% price surge, briefly reaching $0.6366, marking a more than 60% increase since the bearish trend reversed on July 5.

Although XRP has corrected some gains, stabilizing around $0.5823, it remains the top-performing cryptocurrency among the top 10 assets over the past week.

XRP’s Potential in International Money Transfers

XRP enthusiast Alex Cobb has shared fascinating insights into how XRP could revolutionize international money transfers, posing a significant threat to traditional systems.

In a recent post, he asked the XRP community for their views on XRP amid its resurgence and received overwhelmingly bullish responses. Gemini joined the conversation, expressing their excitement about XRP and celebrating its 30% 7-day gains with a “to the moon” video and the message, “Rise and vibe, XRP fam.”

Shift in Perspective

Gemini listed XRP for the first time in August 2023 following a lawsuit victory confirming XRP is not a security. Since then, Gemini has actively supported XRP through various promotional activities, such as offering XRP rewards on everyday purchases with the Gemini Credit Card and the “XRP Faucet” campaign, which provided users with 20 XRP daily for a week. Gemini’s enthusiasm and efforts have significantly increased the bullish sentiment around XRP, making it a standout in the current crypto market.

XRP ETF On the Way?

Gemini’s recent focus on XRP has sparked speculation about a potential XRP exchange-traded fund (ETF). Such an ETF could enhance the asset’s legitimacy among institutional and retail investors, adding excitement to the community’s discussions. Many are exploring the reasons behind Gemini’s sudden embrace of XRP, considering the possibility of an XRP ETF as a significant development.

Read Also: Ripple News : XRP Price Corrects After Large Transactions: What Lies Ahead?

XRP is on fire. Will the rally continue? Let us know your thoughts.