Gemini hints at XRP listing, but it is unlikely to help it reach $1.00

The price of XRP is rising on rumors of a relisting on the Coinbase crypto exchange.

On Monday, August 7, the Gemini cryptocurrency exchange published a tweet in which it hinted at the listing of the XRP cryptocurrency on its platform. “I, an intern, am patiently waiting for Gemini to list XRP.” wrote Gemini in your tweet.

Shortly after the landmark July 13 Ripple court decision, Gemini expressed interest in a possible listing of XRP, and several other exchanges also took steps to resume trading in the previously disgraced US cryptocurrency.

“Given today’s decision that selling XRP on exchanges is not a security, Gemini is investigating the listing of XRP for both spot trading and derivatives trading,” the exchange previously tweeted.

It’s worth noting that Gemini’s current enthusiasm for XRP contrasts sharply with its past stance. The exchange and its co-founders, the Winklevoss twins, have been historically critical of XRP. The twins have been at odds with the XRP community and there have been occasional controversies on social media.

In 2020, Tyler Winklevoss especially chided some XRP supporters, calling them “stupid trolls”, after they provocatively tagged the SEC on Twitter to take action against Gemini.

That being said, listing on Gemini will most likely not help XRP reach even $1.00.

Shortly after the Ripple court ruling last month, the price of XRP surged almost 100% in a week, hitting a 2023 high of $0.93, but is now trading at $0.64. XRP investors were waiting for the price to reach $1, but now the excitement about Ripple’s victory over the SEC has faded.

Prominent crypto advocate and lawyer John Deaton pointed out the reasons why XRP did not hit $1 despite the coin receiving regulatory clarity thanks to the Ripple v SEC case.

In a recent tweet, lawyer Deaton mentioned that the reason why the price of XRP is not showing strong growth is because Bitcoin has entered into a strong consolidation. He emphasized that bitcoin has a significant impact on the market.

“Like it or not, bitcoin rules this market, IMO,” Deaton said.

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