XRP surged $0.52 in a week as Gemini expanded direct XRP Ledger deposits and withdrawals for Singapore users.
Gemini has activated direct XRP Ledger deposits and withdrawals for customers in Singapore, removing prior restrictions on moving tokens off-platform. The move follows a 52.9% rally in XRP, which climbed from below $1 to $0.52 between August 17 and 23.
The exchange’s CEO, Tyler Winklevoss, highlighted the update as a win for Ripple’s Asian user base, though it does not involve new institutional partnerships. Bitwise’s $29.32 price target for XRP, requiring a $2.9 trillion market cap, resurfaced amid the rebound.
Singapore users can now transfer XRP between Gemini and compatible external wallets without holding tokens exclusively on the exchange. The feature aligns with broader efforts to streamline on-chain transactions for retail investors.