XRP Soars 33.58% as Gemini Enables Direct Token Deposits in Singapore

Ripple's native XRP token has seen significant gains over the past month, rising by 33.58% in value. The surge in price can be attributed to increased activity on the XRP Ledger, which has reached a quarterly high for active crypto wallet addresses.

Recently, Gemini announced that its customers in Singapore can now easily deposit and withdraw XRP tokens directly on the native XRP Ledger, enabling seamless transactions between self-custodial wallets and client balances on-site. This move is seen as a significant development for the Ripple community in Asia.

According to Santiment's blockchain data, daily active addresses on the XRP Ledger have risen from 47,180 to 356,070 in a short period. Analysts are expecting drastic price fluctuations due to this increased activity, with some predicting another major price swing in the near future.