Gemini Adds RLUSD Support on XRPL as XRP Faces Volatility

• Gemini RLUSD XRPL support allows seamless cross-chain transfers and staking rewards.

• The integration stems from a November collaboration aimed at faster blockchain-based fiat settlements.

• RLUSD’s market cap stands at $1.02 billion, reflecting 1,200% year-to-date growth since its December 2024 launch.

Gemini RLUSD XRPL support boosts stablecoin adoption with instant settlements and staking yields. Explore how this partnership enhances crypto payments and prediction markets for US users today.

What is Gemini’s RLUSD Support on the XRP Ledger?

Gemini RLUSD XRPL support refers to the recent addition of Ripple’s RLUSD stablecoin to the US-based exchange’s platform, specifically on the XRP Ledger. This integration allows users to deposit RLUSD via XRPL and withdraw it on either XRPL or Ethereum, while also offering staking options with yields up to 4% APY. The move enhances transaction efficiency by providing near-instant settlements and reduced fees, aligning with growing demand for reliable stablecoin services.

How Does the Ripple-Gemini-Mastercard Partnership Work?

The partnership between Ripple, Gemini, Mastercard, and WebBank, announced in early November, focuses on leveraging the XRP Ledger for efficient fiat currency settlements. Through the Gemini Credit Card issued by WebBank, RLUSD facilitates blockchain-based transactions, bridging digital assets with everyday consumer payments. Dan Chen, Chief Financial Officer at Gemini, stated, “Through the Gemini Credit Card, we’re advancing the way that digital assets are integrated into everyday spending. In this next phase of the collaboration, we’re demonstrating how stablecoin settlement can be applied to an active card program, connecting blockchain innovation to real consumer payments.”

This collaboration simplifies cross-chain transfers, enabling RLUSD holders to move funds seamlessly across networks. It supports Ripple’s broader strategy to expand stablecoin adoption amid increasing market needs for faster, more cost-effective settlements. As of recent data, RLUSD ranks eighth among stablecoins on CoinMarketCap with a market capitalization of $1.02 billion, showcasing a remarkable 1,200% year-to-date growth. The stablecoin achieved $500 million in market cap within its first seven months since launching in December 2024, underscoring its rapid traction in the ecosystem.

Regulatory oversight has been pivotal, ensuring compliance while fostering innovation. The initiative not only streamlines payments but also positions RLUSD as a competitive option in the stablecoin space, backed by Ripple’s established infrastructure on the XRPL.

Frequently Asked Questions

What Benefits Does Gemini RLUSD XRPL Support Offer Users?

Gemini RLUSD XRPL support provides users with near-instant deposits and withdrawals on the XRP Ledger or Ethereum, plus staking yields up to 4% APY. It reduces transaction fees and enables seamless cross-chain movements, making RLUSD more accessible for everyday crypto activities and fiat settlements through integrated card programs.

Can US Gemini Customers Access Prediction Markets Now?

Yes, following the CFTC’s approval of a Designated Contract Market license for Gemini Titan, US customers can trade event contracts in prediction markets using USD from their accounts via the web interface. Mobile app support will follow soon, offering features similar to platforms like Kalshi and Polymarket.

Key Takeaways

• Gemini RLUSD Integration: Enhances stablecoin utility on XRPL with staking and low-fee transfers, driving adoption through partnerships.
• Regulatory Milestone: The CFTC license opens prediction markets to US users, marking five years of effort and boosting Gemini’s innovation edge.
• XRP Market Volatility: Despite positive developments, XRP dropped 4.3% to $2.02 amid post-FOMC instability; monitor supports at $1.90 for potential rebounds.

Conclusion

Gemini RLUSD XRPL support represents a significant step in merging stablecoins with practical payment solutions, supported by collaborations with Ripple, Mastercard, and WebBank. As RLUSD’s market cap surges and regulatory approvals like the CFTC’s DCM license expand services to prediction markets, the ecosystem continues to mature. Looking ahead, this integration could further stabilize and accelerate crypto adoption, encouraging users to explore these enhanced features for efficient, secure transactions.

US-based cryptocurrency exchange Gemini has added support for Ripple’s stablecoin, RLUSD, on the XRP Ledger. This development follows regulatory approval for a joint effort with Mastercard and WebBank to integrate RLUSD for fiat settlements via Ripple’s blockchain technology.

Gemini reports that the integration allows users to deposit RLUSD on the XRPL and withdraw it on either the XRPL or Ethereum network. Additionally, it supports staking with potential yields of up to 4% APY. In a statement shared on X on Wednesday, Gemini highlighted that the update delivers “near-instant settlement and lower fees.”

Ripple, Gemini, Mastercard, and WebBank Collaboration Delivers Results

This announcement concludes a partnership initially disclosed in early November, uniting Ripple, Mastercard, WebBank, and Gemini to develop faster settlement methods for fiat currencies using the XRPL blockchain.

According to a press statement from Mastercard, the project incorporates RLUSD to enable blockchain-based settlements for transactions on the Gemini Credit Card, provided through WebBank.

“Through the Gemini Credit Card, we’re advancing the way that digital assets are integrated into everyday spending. In this next phase of the collaboration, we’re demonstrating how stablecoin settlement can be applied to an active card program, connecting blockchain innovation to real consumer payments,” remarked Dan Chen, Chief Financial Officer at Gemini.

Gemini anticipates that incorporating RLUSD with XRPL compatibility will streamline cross-chain transfers, allowing holders to navigate the stablecoin effortlessly across preferred blockchains. The exchange notes this aligns with Ripple’s push to broaden stablecoin usage and address demands for quicker transaction processing.

At the time of reporting, RLUSD holds the eighth position in CoinMarketCap’s stablecoin rankings, with a market cap of $1.02 billion and a 1,200% year-to-date growth rate. It hit $500 million in market cap just seven months after its December 2024 debut.

Regulatory Approval Broadens Gemini’s Offerings to Prediction Markets

Beyond the RLUSD XRPL integration, Gemini Space Station revealed that its affiliate, Gemini Titan, has secured a Designated Contract Market (DCM) license from the Commodity Futures Trading Commission (CFTC).

Per reports from Cryptopolitan, this approval followed a rigorous five-year process and permits Gemini to introduce prediction markets for US clients, akin to those on Kalshi and Polymarket.

“Today’s approval marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini,” commented Gemini CEO Tyler Winklevoss. “It’s incredibly refreshing and invigorating to have a President and a financial regulator who are pro crypto, pro innovation, and pro America.”

US Gemini users will soon access prediction market event contracts directly on the exchange’s web platform using USD balances. Mobile app functionality for these contracts is slated for a forthcoming launch.

XRP Experiences 3% Decline Despite Positive ETF Inflows

The advancements in Gemini and RLUSD provided a brief uplift for XRP enthusiasts on Tuesday, pushing the price toward $2.1. However, gains evaporated by Wednesday’s US market close. XRP fell from $2.17 to $2.02 over the past 48 hours, resulting in a 4.3% decline.

Market observers attribute the rejection at $2.12 to a surge in trading volume to 172.8 million tokens, exceeding the daily average by over 205%, with institutional activity outpacing retail.

“As usual, markets are experiencing volatility post FOMC, creating widespread instability in the short-term. With the RSI in compression, and the Stoch RSI sitting in oversold territory, any further sweeps or downside activity towards the $1.90 TR support is welcomed,” noted analyst ChartReaderTA in a post on X.

Session trading volume was 54% above the seven-day average, and exchange balances have decreased notably over the last 60 days, from 3.95 billion to 2.6 billion tokens. This supply compression persists even as XRP struggles to maintain a breakout.

Attempts to surpass the $2.09-$2.10 range triggered intense selling, pulling the price back to $2.05 multiple times during Thursday’s early sessions. Meanwhile, US spot XRP ETFs recorded over $170 million in weekly inflows, continuing a streak without outflows.