XRP Rises to $1.52 as Gemini Activates Deposit, Withdrawal on Ledger
Ripple (XRP) price climbed about 3% over the past 24 hours, topping $1.52 on Tuesday as signals of US Treasury liquidity continue to draw investors’ attention across digital assets.
The cryptocurrency market maintained upward momentum with a sustained increase in market capitalisation of all digital assets, settling at $2.72 trillion. Bitcoin is trading at $80,628.71, up 4.55% over the past 24 hours, while Ethereum is at $2,505.73, up 2.94%.
In Sept, a potential $4 billion buyback by the US Treasury is expected to support an expanded bond buyback program as a major macroeconomic liquidity mechanism.
Gemini enabled XRP deposits and withdrawals via the XRP Ledger for customers in Singapore on Aug. 25. The rollout reflects incremental infrastructure growth for XRP in regulated markets.
It gives local users a more direct way to move assets while highlighting Singapore’s ongoing role as a testing ground for the expansion of exchange services.
The update lets users in the city-state send and receive XRP directly on its native blockchain, rather than relying solely on other transfer methods the exchange previously supported.
Eligible users can now deposit XRP from self-custody wallets or other supported platforms and withdraw tokens from Gemini directly to external XRPL addresses, making XRP transferable outside Gemini’s custody infrastructure.
Gemini did not announce new trading pairs, fee changes or minimum transfer amounts alongside the rollout. Gemini Digital Payments Singapore received in-principle approval for a Major Payment Institution license in Oct. 2024.
Meanwhile, XRP spot ETFs have surged, with an astounding $45 million in inflows, igniting renewed fervour around Ripple-associated products. This influx is not just a statistic; it’s a potential turning point, reflecting growing investor interest in the evolving ETF narrative.
