The cryptocurrency trading platform Gemini has recently been dropping hints on social media that have sparked speculation about potential support for XRP, the digital token associated with the Ripple payment network. Over the past few days, Gemini has posted several cryptic tweets containing variations of the letters “X” and “R”, which followers took as strong clues pointing to XRP. The most recent tweet posed a riddle, asking,
“In the land of giants, I’m swift and small, when I run I don’t stall. Across borders, I freely roam, in markets near and far from home. What am I?”
This fueled rumors across social media ahead of the 24-hour deadline for Gemini to reveal the true meaning behind the teasers. Many wondered if the exchange was planning to re-list XRP trading pairs, after having removed support back in 2020 due to regulatory uncertainty surrounding Ripple and XRP at the time.
However, Gemini has now announced that rather than directly trading XRP, they intend to launch perpetual futures contracts that will allow leveraged trading based on the price of XRP. This revives the connection between the exchange and the XRP ecosystem for the first time in almost three years. The move comes as XRP has seen a string of legal victories that appear to be clearing the way for mainstream financial services to resume full support. By offering derivatives contracts tracking XRP price, Gemini is now re-opening ties in a way that likely avoids the previous regulatory complications. The new offering will give traders another way to gain exposure to XRP price action.
