Gemini, the US-based crypto exchange, announced its support for XRP following Ripple’s recent legal breakthrough. 

Gemini Enables XRP Deposits

Effective immediately, Gemini users can deposit XRP tokens on the platform. This decision comes after a prolonged absence due to the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). 

In December 2020, the SEC filed a lawsuit against Ripple Labs, alleging that the company conducted an unregistered securities offering by selling XRP tokens. 

Consequently, several leading cryptocurrency exchanges, including Gemini, decided to delist XRP from their trading platforms to mitigate any potential regulatory risks. This move left XRP holders and traders uncertain about the future of the digital asset.

However, the recent partial victory achieved by Ripple Labs in the court battle against the SEC has spurred Gemini to reconsider its stance on the token. 

Traders and investors can now engage in XRP trading through various channels offered by Gemini, including the API/FIX and ActiveTrader applications for USD trading pairs, as well as the Gemini Mobile App and website, which support trading pairs in USD, GBP, EUR, CAD, SGD, HKD, and AUD. 

This move broadens the range of available investment options for cryptocurrency enthusiasts and strengthens the overall cryptocurrency ecosystem. XRP’s integration into Gemini’s platform will increase liquidity, trading volume, and market stability for XRP and other cryptocurrencies.

SEC To Appeal Ripple Labs Court Decision

According to a Reuters report, The US SEC has announced its intention to appeal the recent court decision involving Ripple Labs, a setback for the agency’s efforts to exert regulatory authority over the cryptocurrency market. 

The appeal seeks a review of the US District Judge Analisa Torres’
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Author: Ronaldo Marquez

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