Gemini Now Opens Ripple Deposits, Trading Support Will Be Activated Soon

Key Points:

• Gemini relists XRP after Ripple’s legal victory against the SEC.
• Other U.S. exchanges like Coinbase, Kraken, and Crypto.com quickly resumed XRP trading post-court ruling.
• While Gemini cautiously allows XRP deposits, its measured approach aligns with evolving regulations, reflecting the industry’s adaptability.

In a significant development for the cryptocurrency market, Gemini, the crypto exchange co-founded by the Winklevoss twins, has announced the relisting of the XRP token.

This move comes in the wake of the recent legal triumph of Ripple against the U.S. Securities and Exchange Commission (SEC). While the relisting is awaited by enthusiasts, the exchange’s approach has been somewhat more measured than its counterparts.

Gemini’s decision to reintroduce XRP is a notable step forward, although it comes slightly after similar moves by other major U.S. crypto exchanges like Coinbase, Kraken, and Crypto.com.

These platforms promptly re-enabled XRP trading following the court’s verdict that XRP is not a security. This distinction was crucial, as the court clarified that the distribution of Ripple’s XRP did not equate to the sale of investment contracts.

However, caution was advised, given that institutional XRP sales could still potentially violate securities regulations.

While Gemini has currently opened the doors for XRP deposits, trading support for the XRP/USD pair is set to be activated in the near future. This approach, though measured, demonstrates a deliberate approach to ensuring regulatory alignment and compliance.

The Southern District Court of New York’s ruling has paved the way for XRP’s resurgence, confirming its non-security status. Judge Analisa Torres has also indicated the potential for a jury trial in the second quarter of 2024, underscoring the ongoing legal significance surrounding cryptocurrencies.

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