Gemini has suddenly leapt ahead of rival Coinbase in U.S. App Store rankings after unveiling a new XRP-powered credit card developed with Ripple Labs and Mastercard.
The limited edition metal card, announced Monday, promises up to 4% cashback in XRP that is delivered instantly rather than through delayed rewards.
Gemini Climbs the Charts
Data from Sensor Tower showed Gemini jumping to 16th place in the finance app category, overtaking Coinbase, which sat at 20th. Just weeks ago, on August 6, Gemini was far behind, ranking 117 while Coinbase was at 26, highlighting the scale of the shift.
Tyler Winklevoss, co-founder of Gemini, called the moment “the flippening” on X, suggesting that momentum is tilting away from Coinbase. The move has been echoed across crypto social media, with many pointing to the launch of the card as a symbolic victory.
Ripple and Mastercard Backing Adds Buzz
The card launch quickly drew attention from Ripple supporters as well. Ripple CEO Brad Garlinghouse hailed it as a milestone for the XRP community, celebrating the arrival of an XRP-branded product in mainstream payments. By pairing the initiative with Mastercard, Gemini aimed to showcase its ability to bridge crypto and traditional finance.
Coinbase Still Leads on Trading Volume
Despite the App Store win, Coinbase continues to dominate by size. According to CoinMarketCap, Coinbase recorded over $4.5 billion in trading volume within the past 24 hours, ranking third globally. Gemini, by comparison, handled roughly $382 million, placing it far down the leaderboard at 24th.
This underlines that while app store rankings reflect consumer interest and downloads, they don’t necessarily match up with actual market share in trading activity.
IPO on the Horizon
The momentum comes as Gemini prepares for a bigger move into traditional finance. The exchange has filed for a Nasdaq listing under the ticker GEMI, with Goldman Sachs, Morgan Stanley, and Citigroup among the banks leading the offering. Pricing details remain undisclosed, but the IPO would mark the first time Gemini’s shares become publicly traded.
For Gemini, climbing past Coinbase in app rankings may be temporary. Still, the timing of the surge — on the heels of the XRP rewards card and just before its public listing — suggests the exchange is aiming to build as much visibility as possible ahead of its Wall Street debut.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/gemini-flips-coinbase-in-app-store-rankings-after-xrp-card-launch/