- XRP has gained more than 4% after crypto exchange Gemini hinted at relisting the token.
- Gemini initially stated that it was considering relisting XRP after the summary judgment in SEC v Ripple.
- XRP was delisted from Gemini after the SEC sued Ripple in December 2020.
Gemini has teased relisting Ripple’s (XRP) in a recent post on X (Twitter). The crypto exchange has shared two different tweets hinting at relisting XRP on its online trading platform. Gemini previously stated that it was exploring relisting the token following Ripple’s major victory in the lawsuit brought by the U.S. Securities and Exchange Commission (SEC).
Gemini’s official X handle initially tweeted a meme that loosely translated to the potential relisting of XRP. This was followed by another tweet a few hours later, which read “xpressing xcitement about xrp.” The crypto community on X was convinced that the overpowering XRP pun pointed to the relisting of XRP on Gemini soon.
The vague XRP hints came nearly a month after the judge overseeing the SEC’s lawsuit against Ripple ruled that the XRP sold on secondary markets did not qualify as securities. This ended the years-long dispute over the security status of XRP and established a critical legal precedent for other tokens.
When the SEC sued Ripple in December 2020, it alleged that the firm had raised funds by offering XRP, which was allegedly a security. This led to XRP’s delisting from top crypto exchanges like Coinbase and Gemini. Following the ruling, multiple crypto exchanges, including Coinbase, Crypto.com, and Kraken, stated that they would relist XRP. At the time, Gemini told its followers on Twitter that it would explore relisting the token on its trading platform.
The latest developments led to an increase of over 4% in XRP’s price. Data from CoinMarketCap showed that the crypto went from $0.61 to $0.64, leading to considerable growth in its market capitalization. Furthermore, on-chain data showed that XRP’s recent rally caused short positions worth over $2.4 million to get liquidated over the past 24 hours.
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