Gemini

On the Gemini cryptocurrency exchange, XRP’s price experienced a sharp rise, reaching $50 on Thursday evening. This surge momentarily boosted XRP’s total value significantly. 
<img decoding="async" class="alignnone wp-image-23274 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/08/F3OxrNaXYAARgOD.jpg" alt="" width="536" height="1059" srcset="https://crypto.ro/en/wp-content/uploads/2023/08/F3OxrNaXYAARgOD.jpg 536w, https://crypto.ro/en/wp-content/uploads/2023/08/F3OxrNaXYAARgOD-152x300.jpg 152w, https://crypto.ro/en/wp-content/uploads/2023/08/F3OxrNaXYAARgOD-518x1024.jpg 518w" sizes="(max-width: 536px) 100vw, 536px" title="XRP reaches $50, experiences brief price surge on Gemini 3"> 
However, the spike was short-lived, with prices stabilizing within minutes. This fluctuation was largely due to the limited availability of <a href="https://crypto.ro/en/cryptocurrencies/xrp/" rel="noopener noreferrer nofollow">XRP</a> tokens on Gemini, following its recent relisting. It’s <a href="https://twitter.com/lifebythedrop63/status/1689829842538348545" rel="noopener noreferrer nofollow" target="_blank">believed</a> that a large purchase order might have caused this sudden increase. 
For a brief period, XRP’s price on <a href="https://crypto.ro/en/exchange/gemini/" rel="noopener noreferrer nofollow">Gemini</a> was higher than on other exchanges. Some analysts believe a seller may have set an unrealistic price of $50 for XRP, and a buyer inadvertently agreed to it. 
<img decoding="async" class="alignnone wp-image-23275 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/08/ezgif.com-gif-maker-1.jpg" alt="ezgif.com gif maker 1" width="560" height="418" srcset="https://crypto.ro/en/wp-content/uploads/2023/08/ezgif.com-gif-maker-1.jpg 560w, https://crypto.ro/en/wp-content/uploads/2023/08/ezgif.com-gif-maker-1-300x224.jpg 300w" sizes="(max-width: 560px) 100vw, 560px" title="XRP reaches $50, experiences brief price surge on Gemini 4"> 
When comparing the liquidity on Gemini with that of Binance, another major exchange, it’s evident that price shifts for XRP are more sensitive on Gemini. Specifically, a $37,000 trade can alter the price by 2% on Gemini, while a hefty $2.2 million trade is needed to achieve the same effect on Binance. 
The reintroduction of XRP on Gemini followed a court decision that cleared Ripple Labs (the company associated with XRP) of certain accusations. The company had been previously criticized for selling XRP in the U.S. without the necessary approvals. 
Currently, XRP is trading at a more consistent rate of 63 cents.

XRP reaches $50, experiences brief price surge on Gemini

crypto.ro global

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