Gemini Relists XRP Following Ripple's Legal Progress

Following Ripple's recent legal triumph, cryptocurrency exchange Gemini has officially relisted XRP for deposits, sparking anticipation of broader trading support. The confirmation came after days of speculation prompted by a cryptic tweet from Gemini's verified X account, featuring a thinking face emoji in response to a query about XRP relisting by crypto journalist David Gokhstein. In its announcement, Gemini clarified that, initially, it will solely accept XRP deposits. However, the exchange revealed plans to introduce XRP-related trading pairs in the near future. To access the new feature, users were urged to update their mobile apps. Gemini's decision aligns with a trend of crypto exchanges reinstating XRP after Ripple's partial court victory against the U.S. Securities and Exchange Commission (SEC). The July 14 ruling by Judge Analisa Torres indicated that XRP might not be categorized as a security when traded on secondary markets. This outcome prompted exchanges like Kraken, Bitstamp, and Crypto.com to re-enable XRP trading. However, a fresh development emerged as the SEC expressed its intent to challenge Judge Torres' ruling. The regulatory body filed an appeal on August 9, introducing a new layer of uncertainty to XRP's regulatory status. Ripple, the company behind XRP, has also achieved recognition in the traditional financial sphere. Ripple has become a member of the Bank for International Settlements (BIS) cross-border payments taskforce. This committee, comprising 33 members and overseen by BIS, signifies Ripple's growing acceptance within mainstream financial circles, potentially attributed to its legal victory against the SEC. As the cryptocurrency landscape continues to evolve and regulatory dynamics shift, Ripple's progress and Gemini's decision to relist XRP underscore the ongoing interplay between legal developments and market responses in the cryptocurrency sector.