Gemini's XRP-based credit card program has generated excitement and discussion within the Ripple community, raising new questions about trust among XRP investors.
Strong Signals from a 5,000-Participant Survey
An online survey conducted by Dom Kwok revealed how users perceive a credit card offering XRP rewards. Among over 5,000 participants, 94.1% expressed interest in using such a card, indicating a remarkably high acceptance rate in the crypto space. This has also sparked further discussions within the XRP community.
Past Statements Fuel Trust Issues
Gemini's approach to XRP has not been uniformly received within the Ripple community due to previous remarks. Criticisms made by Tyler Winklevoss, one of Gemini's founders, in 2020, remain in the memories of many investors. Although recent statements have been more positive, skepticism remains among many users.
Price Movements and Regulatory Uncertainties Persist
Gemini refrained from listing XRP for an extended period due to Ripple's legal battles with the SEC. However, following Ripple's victory in court in 2023, the exchange decided to relist XRP. Despite this, XRP prices have not shown positive movement, partly due to ongoing uncertainties in the market.
Gemini's new initiative with an XRP-based card may reshape community dynamics, despite current market responses not being positive. User experiences will be crucial in assessing the long-term success of the program.
