- Ripple and Gemini launch XRP rewards card, merging crypto with everyday spending.
- Garlinghouse celebrates XRP card debut as adoption milestone with strong community buzz.
- XRP price faces pressure, with $2.85 support seen as key to near-term market outlook.
Ripple’s CEO, Brad Garlinghouse, shared his excitement over the launch of the first-ever XRP rewards credit card, a product developed through a partnership between Ripple, Gemini, WebBank, and Mastercard.
Garlinghouse celebrated the significant achievement with the XRP community, marking a major milestone for the digital asset.
How Does the New XRP Rewards Card Work?
For years, the idea of earning XRP rewards on a credit card was just a concept. The new Gemini XRP Credit Card makes it a reality. The card allows users to receive up to 4% back in XRP on everyday purchases, giving consumers a direct way to accumulate cryptocurrency through normal spending.
Brad Garlinghouse, celebrating the launch, tweeted to the community, “What a time to be alive, XRP family.”
The credit card represents a tangible way to integrate XRP into daily financial life and is part of a larger strategy to drive mainstream adoption. Consumers can manage their rewards directly in their Gemini accounts, with the option to hold, trade, or withdraw them.
Why Did Gemini’s Co-Founder Offer Garlinghouse the “Whale Limit”?
In a noteworthy exchange, Gemini co-founder Tyler Winklevoss offered Garlinghouse the card’s “whale limit,” which grants the highest possible daily spending cap. Winklevoss joked that the Ripple CEO was the perfect candidate for this special offer.
Why Is XRP’s Price Down Despite the Gemini News?
Although the credit card launch is a big win for the ecosystem, the token’s price faces significant turbulence. At press time, XRP trades at $2.92, a slight decline of 0.81% in the last 24 hours and a 2.81% drop over the past week. The token’s market cap sits at approximately $173.6 billion.
Market analyst EGRAG CRYPTO points to critical price levels that could determine XRP’s future. The analyst notes the $2.85 mark is a crucial support level. If it fails to hold, traders should watch for support at $2.73, $2.65, and $2.55.
A rise above $3.22, however, could invalidate these bearish scenarios. The immediate challenge for the market is can XRP hold $2.90 as price compression tightens.
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