Gemini Co-Founder Tyler Winklevoss Announces “Big News” for XRP Community

HIGHLIGHTS Gemini enables direct XRP deposit and withdrawal on the XRP Ledger (XRPL). Crypto exchange's co-founder Tyler Winklevoss said this is big news for XRP Army. XRP price extends rally amid significant ETF inflows. XRP price has rallied more than 50% in a week, supported by significant inflows from retail and institutional investors into spot XRP ETFs. Gemini co-founder Tyler Winklevoss shared another “big news” for XRP Army on Monday that could trigger further upside momentum in XRP price.
Big XRP News from Gemini Co-Founder Tyler Winklevoss
Tyler Winklevoss revealed that Gemini users can now deposit and withdraw XRP directly over the XRP Ledger (XRPL) network in Singapore. “Big news for the Ripple Army in Asia,” he said.

This expands native XRPL support for Singapore-based customers of the regulated cryptocurrency exchange. It is significant because the country is one of Asia’s top financial centers and crypto hubs, under the oversight of the Monetary Authority of Singapore (MAS).

As CoinGape reported recently, Ripple joined Singapore’s MAS BLOOM initiative to test its RLUSD stablecoin. The move intends to analyze whether the stablecoin can speed up cross-border trade by replacing slow, manual payment processes.

Notably, JPMorgan, Ripple, Mastercard, and Ondo Finance completed the first cross-border tokenized treasury settlement using XRP Ledger. The USD was deposited to Ripple’s Singapore bank account.

XRP Ledger is also undergoing a major shift amid growing tokenization and tradFi-crypto industry collaboration. The network has also announced the XRP Ledger 3.3.0 upgrade that brings major amendments to boost institutional adoption.
Price Rally amid Massive ETF Inflows
XRP price has jumped more than 2% in the past 24 hours amid positive news. The price is currently trading at $1.52, with a 24-hour low and high of $1.45 and $1.55, respectively. Furthermore, trading volume has bounced by 15% over the last 24 hours, signaling strong momentum after the US Treasury plans to use its General Account for bond buybacks.

Meanwhile, spot XRP ETFs are witnessing strong inflows from institutions, with $13.82 million on Monday. XRP ETFs saw $97.24 million in trading volume. Bitwise XRP ETF led with $8.25 million in inflows. Notably, XRP is rally since CoinGape reported that Goldman Sachs re-entered XRP ETFs to become the top holder again.

Meanwhile, XRP futures open interest has climbed further by almost 6% to $3.81 billion in the past 24 hours. The 4-hour XRP futures OI also jumped nearly 0.30% amid bullish news. The futures OI surged 18% on CME but dropped 1.32% on Binance in the last 24 hours.

Traders looking to capitalize on this momentum can compare features on the best crypto derivative futures trading platforms.