Gemini Adds RLUSD Support on XRP Ledger
US-based cryptocurrency exchange Gemini has added support for Ripple’s stablecoin, RLUSD, on the XRP Ledger (XRPL). This development follows regulatory approval for a joint collaboration involving Ripple, Mastercard, and WebBank, aimed at onboarding RLUSD for fiat settlements via Ripple’s blockchain.
According to Gemini, the integration allows users to deposit RLUSD on the XRPL and withdraw it on either the XRPL or Ethereum network. Additionally, RLUSD can be staked, offering yields of up to 4% APY. In a statement posted on X, Gemini highlighted that this update brings “near-instant settlement and lower fees.”
Partnership with Ripple, Mastercard, and WebBank Comes to Fruition
This announcement represents the culmination of a partnership that was initially revealed in early November. At that time, Ripple, Mastercard, WebBank, and Gemini united to explore faster settlement mechanisms for fiat currencies utilizing XRPL’s blockchain technology.
A press statement from Mastercard indicated that the initiative would onboard RLUSD to facilitate blockchain-based settlement for transactions conducted on the Gemini Credit Card, which is issued through WebBank.
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."
Gemini anticipates that the addition of RLUSD with XRPL support will simplify cross-chain transfers, enabling holders to move the stablecoin seamlessly across different blockchain networks. The exchange noted that this development aligns with Ripple’s strategic objective to expand stablecoin adoption and address the market’s demand for expedited transaction settlements.
As of this reporting, RLUSD is ranked eighth among stablecoins on CoinMarketCap, boasting a market capitalization of $1.02 billion. This represents a year-to-date growth rate of 1,200%. The stablecoin reached a market cap of $500 million within its first seven months after its launch in December 2024.
Regulatory Approval Enables Gemini's Entry into Prediction Markets
In addition to the RLUSD XRPL support launch, Gemini Space Station announced that its affiliate, Gemini Titan, has secured a Designated Contract Market (DCM) license from the Commodity Futures Trading Commission (CFTC).
According to a report by Cryptopolitan, this approval was granted after a five-year licensing process and will empower Gemini to introduce prediction markets for its US customers, similar to platforms like Kalshi and Polymarket.
Gemini CEO Tyler Winklevoss commented, “Today’s approval marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini. It’s incredibly refreshing and invigorating to have a President and a financial regulator who are pro crypto, pro innovation, and pro America.”
US-based Gemini customers will soon have the ability to trade event contracts directly within prediction markets through the exchange’s web interface, utilizing USD from their Gemini accounts. Mobile app services for these contracts are expected to launch shortly thereafter.
XRP Price Drops Amid Positive ETF Netflows
The positive news surrounding Gemini and RLUSD initially provided a boost for XRP bulls on Tuesday, leading to a brief price surge to $2.1. However, these gains were reversed by Wednesday's US market trading close. The token experienced a decline from $2.17 to $2.02 within the last 48 hours, marking a 4.3% loss.
Several market observers suggest that the price rejection at $2.12 was influenced by a spike in trading volume to 172.8 million tokens, which is over 205% above the daily average. Institutional activity notably peaked during this period, overshadowing retail participation.
$XRP: As usual, markets are experiencing volatility post FOMC, creating widespread instability in the short-term. With the RSI in compression, and the Stoch RSI sat in oversold territory, any further sweeps or downside activity towards the $1.90 TR support is welcomed. Loading. pic.twitter.com/IFGah9lCNA
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) December 11, 2025
Trading volume for the session exceeded the seven-day average by 54%. Exchange balances have also seen a significant decrease over the past 60 days, dropping from 3.95 billion tokens to 2.6 billion tokens. This reduction in available supply occurred despite XRP's failure to sustain a breakout.
When the token attempted to surpass the $2.09-$2.10 range, considerable selling pressure emerged, pushing it back to $2.05 multiple times during Thursday's early morning sessions. Concurrently, US spot XRP ETFs reported weekly inflows exceeding $170 million, marking another week without any outflows.