Gemini Teases Potential Relisting of Ripple’s XRP, Ignites Enthusiasm

XRP Wins Legal Battle Against SEC, Gemini Hints at Relisting

XRP, the digital asset associated with Ripple, has scored a significant victory in its legal battle against the U.S. Securities and Exchange Commission (SEC). This landmark ruling has revived interest in the coin, attracting institutional investors back into the market. Gemini, a renowned U.S. cryptocurrency exchange, has dropped hints about relisting XRP on its platform.

For a while, there has been ongoing controversy surrounding the classification of XRP as a security, leading to its delisting from several major crypto exchanges. This uncertainty has unsettled investors and traders. However, this all changed on July 13, 2023, when Judge Analisa Torres issued a Summary Judgment, declaring that XRP’s sale did not fall under the category of securities. This ruling sparked a surge of positivity in the market, with Coinbase and Kraken quickly reinstating XRP trading.

Now, all eyes are on Gemini as it prepares to reintroduce XRP trading on its platform. Following the court’s favorable ruling for Ripple, Gemini has hinted at the possibility of listing XRP for both spot and derivatives trading. In response to a query about the potential relisting, Gemini’s official Twitter account replied with a suggestive ‘Thinking Face’ emoji, generating excitement among XRP supporters and investors.

The relisting of XRP on major exchanges like Coinbase and Kraken has already brought greater stability and reliability to the token’s trading environment. This increased accessibility is expected to promote long-term price stability, reducing the extreme fluctuations seen during the period of delistings.

If Gemini proceeds with the relisting, it could have a significant impact on XRP’s trading volumes and price. Since the legal victory, the token has already experienced a notable surge of nearly 60%, and a relisting on a prominent exchange like Gemini would undoubtedly boost its market appeal.

However, the SEC’s recent announcement of its intention to appeal Judge Torres’s ruling has introduced fresh uncertainty, causing XRP’s price to retreat from its post-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 is crucial to closely monitor the latest developments surrounding the coin. The situation remains dynamic and could shift based on further legal and market changes.

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

With Gemini hinting at relisting XRP, the future looks promising for the digital asset, provided it navigates through the prevailing market uncertainties.