As a seasoned crypto investor with a few battle scars from the volatile market, I’ve witnessed my fair share of price surges and dips. The recent rally of XRP, however, has been nothing short of breathtaking.
Cryptocurrency trading platform Gemini recently highlighted XRP‘s stunning price growth.
As a crypto investor, I’m thrilled to be part of the XRP community and share in our recent price surge. Just announced on the X social media platform, the exchange has reported that the value of Ripple‘s associated cryptocurrency has seen a significant boost, climbing approximately 30% over the past week. Let’s keep the positive energy flowing!
XRP’s massive rally
As a seasoned cryptocurrency analyst with over a decade of experience in the industry, I have witnessed countless market fluctuations and trends. This past Wednesday, I was particularly intrigued by the remarkable performance of XRP. Having closely monitored its price movements throughout the year, I was thrilled to observe it reach a year-to-date high of $0.632, as reported by CoinGecko.
According to U.Today’s report, the Ripple-linked token has been showing signs of fear of missing out (FOMO) among investors lately.
Despite this, the token’s current value represents a significant decrease of approximately 82% compared to its all-time high, which was reached as far back as 2018.
Mending fences
The cryptocurrency exchange led by the contentious Winklevoss brothers, known as Gemini, has a complex past with Ripple’s associated digital asset. In 2020, Tyler Winklevoss, CEO of Gemini, criticized XRP supporters as “unintelligent internet trolls.” This followed accusations towards Gemini for potential market manipulation due to their consistent refusal to include the token in their platform.
The trading platform eventually became supportive of XRP. In August 2023, it included the cryptocurrency in its listings following Ripple’s major triumph against the U.S. Securities and Exchange Commission. This victory meant that secondary sales of XRP tokens were no longer classified as unregistered securities.
After the listing, Gemini has reached out to the XRP community with fresh initiatives. Subsequently, they plan to distribute some XRP tokens through a faucet.
In January, the exchange rolled out XRP/GUSD perpetual futures on Gemini Foundation.
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2024-07-17 21:40