Price Predictions for XRP Appear Largely Bullish Amid Outlook for ‘$50 Price’ Following Gemini Glitch ⋆ ZyCrypto

Gemini Cryptocurrency exchange has officially listed XRP on its platform. 

The New York-based exchange made this known on Thursday in an official announcement. XRP holders can access USD trading pairs on its API/FIX and ActiveTrader application.

“We are delighted to announce support for XRP Ledger (XRP), adding a new blockchain to Gemini’s growing list of supported networks! XRP is now available for trading on our API/FIX and ActiveTrader applications for USD trading pairs and on the Gemini Mobile App and website for USD, GBP, EUR, CAD, SGD, HKD, and AUD pairs!” The announcement read. 

Notably, the recent addition has increased the number of Gemini exchange blockchains to 13. The numbers will likely increase as Gemini continues to expand its network.

“With the addition of XRP Ledger, Gemini is now compatible with 13 blockchain networks, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), Bitcoin Cash (BCH), Polkadot (DOT), Avalanche (AVAX), Cosmos (ATOM), Zcash (ZEC), Filecoin (FIL), Dogecoin (DOGE), and Tezos (XTZ).” The announcement read. 

It is worth noting that while XRP can be stored on Gemini’s exchange wallet, it is not yet available in Gemini Custody.

XRP records price jump following Gemini’s announcement

After Gemini announced its support for the XRP Ledger, XRP saw a wild upswing in its price on the exchange. XRP’s price skyrocketed to $50 on the exchange; however, the price rally was short-lived. 

One XRP user took to social media to explain that the price surge resulted from a glitch on the Gemini Crypto exchange. Meanwhile, at report time, XRP is trading for $0.63.

Price predictions for XRP are still primarily bullish, as some market players expect the asset to hit a new all-time high in the near term. One popular XRP proponent who seems to share this bullish sentiment has predicted that the asset could surge to $1,896. 

Although the XRP proponent did not share a timeframe for his bullish call, he cites Ripple’s addition to the International Swaps and Derivatives Association (ISDA) as a catalyst for the expected price pump.

“Now that Ripple has joined ISDA, take a look at the possibilities for XRP Price and adoption. $1,896.23 per XRP. It’s always been about how much adoption, what Percentage will Ripple and XRP get from the remittance/clearing/settling derivatives market?” He wrote.