Cryptocurrency exchange Gemini has given XRP users in Singapore a major upgrade as Gemini now allows direct XRP deposits and withdrawals through the XRP Ledger (XRPL). The move removes extra steps for users and gives them faster, cheaper access to their XRP.
Following this, the XRP token price spiked 2%, adding to its weekly gain of 50%.
Tyler Winklevoss Announces Direct XRP Transfers
On 25 August, Gemini co-founder Tyler Winklevoss announced the update on X, calling it “Big news for the Ripple Army in Asia.”
Winklevoss said that eligible users in Singapore can now move XRP directly between their Gemini accounts and external XRP Ledger (XRPL) addresses. This means users no longer need to depend only on transfers within the exchange. They can send XRP directly to outside wallets and other XRPL addresses.
The move is especially important for Singapore because the country is a major financial and crypto hub, with digital asset firms operating under the rules of the Monetary Authority of Singapore (MAS).
Crypto researcher Ripple Bull Winkle also welcomed Gemini’s move, calling the new XRP transfer support a positive step for XRP users in Asia.
Direct Benefits for XRP Users
The new XRPL support makes XRP transfers cheaper, faster, and easier for Gemini users in Singapore.
- Lower fees: Users can send XRP directly through XRPL without paying high Ethereum network fees.
- Faster transfers: XRPL transactions can confirm in around 3–5 seconds, allowing users to move funds quickly.
- Fewer extra steps: Users no longer need to convert XRP into another asset before moving funds between platforms, helping reduce extra trading costs.
- More access: Users can send XRP to their own wallets and use services across the XRPL ecosystem, including decentralized exchanges and other applications.
XRP Price Outlook
Over the past week, XRP has gained more than 50%, rising from around $1 to $1.55. The move also comes as U.S. spot XRP ETFs have recorded about $1.55 billion in total inflows, while XRP network activity has jumped sharply.
However, active addresses have risen 654.71%, from 47,180 to 356,070, showing a strong rise in network use.
From a technical view, XRP is trading near $1.51 after a sharp reversal. The chart is showing signs of a possible bullish move.
If buyers break above the current resistance, XRP could move toward the $1.80 zone.
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