Gemini

<div class="watcher-guru"> 
 <p>In July, XRP made headlines attention when the Securities and Exchange Commission [SEC] was unsuccessful in classifying the asset as a security. During this period, the altcoin experienced a significant increase, propelling its value from a low of $0.4702 to a peak of $0.8434. Nonetheless, the bullish trend triggered by the SEC’s actions lost momentum, resulting in XRP witnessing a 10% decrease in value over the course of a week.</p> 
 <p>In the aftermath of the SEC’s legal action against <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a>, numerous exchanges took steps to remove XRP from their platforms, including Gemini. However, as time progressed, a considerable number of these exchanges opted to reintroduce XRP for trading. Following Coinbase’s lead, Kraken, Crypto.com, Bitstamp, and Binance.US also reestablished support for XRP. </p> 
 <p>Gemini was among the platforms that removed XRP from their offerings, although it has not yet reinstated the altcoin. Recently, the exchange hinted at relisting XRP, raising anticipation within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community.</p> 
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    <p lang="en" dir="ltr">Me, the intern, patiently waiting for @Gemini to list XRP. <br>(i want some) pic.twitter.com/I7r7QBjYKR</p>— Gemini (@Gemini) August 7, 2023 
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 <p>Despite this development, the asset’s price remained unaffected. At press time, XRP was trading at a price of $0.6224, showing a 10% decrease in value over the week, but a slight 0.74% increase on a daily basis. Despite expectations surrounding the asset’s official relisting, the network activity of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> has remained lull.</p> 
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 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> CEO Condemns SEC’s Legal Tactics Involving XRP Report</strong></p> 
 <h5 class="wp-block-heading" id="h-xrp-s-stagnant-network-activity">XRP’s stagnant network activity</h5> 
 <p>After the court ruling, XRP experienced a significant increase in its seven-day trading volume. The asset’s market reached $3.9 billion according to Coingecko. This marked a nearly eightfold surge compared to the previous week. However, subsequent to that, the trading volumes have been consistently decreasing. The trading volume dropped to $1.1 billion in the most recent week. The derivatives market also reflects a similar pattern.</p> 
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 <p>As indicated in the above chart, the XRP open interest volume for futures currently stands at $809.64 million. Following the court’s verdict, these futures contracts witnessed a significant upsurge, reaching a peak of $1.19 billion on July 20, which marked the highest point in the past two years.</p> 
 <p><strong>Also Read: XRP to Reach $500 in 7 Months: Wells Fargo Treasury Manager</strong></p> 
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 <p>Additionally, the stagnancy in the asset’s current price and activity could also be related to the overall sentiment of the market.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>crypto</li> 
  <li>GEMINI</li> 
  <li>Ripple</li> 
  <li>xrp</li> 
 </ul> 
</div>

XRP Records 10% Weekly Dip Amidst Gemini Relisting Buzz

TheBitTimes

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