Gemini Deepens XRP Support in Singapore Amid Token's Price Surge

Gemini has expanded its support for XRP in Singapore by allowing direct deposits and withdrawals of the token through the XRP Ledger. The exchange, which already supports over 70 cryptocurrencies for local customers, now enables users to move XRP directly without relying on another blockchain.

This development comes after a year of Gemini widening its XRP support. In July, the exchange allowed traders to use XRP as collateral for derivatives positions alongside other assets. It also launched an XRP version of the Gemini Credit Card, which lets eligible users earn up to 4% back in XRP rewards.

The move has been seen as a positive sign for XRP, which has gained over 50% in value over the past week and is trading around $1.47 to $1.52. The exchange's expansion of XRP services comes amid a sharp increase in spot ETF inflows and large-wallet accumulation of roughly 642 million XRP.