Key Takeaways
- Gemini users in Singapore can now deposit and withdraw XRP directly through the XRP Ledger.
- XRP gained approximately $0.52, or 52.9%, between Aug. 17 and Aug. 23.
- Bitwise’s $29.32 target is a maximum-case scenario that requires XRP to reach a market capitalization of roughly $2.9 trillion.
Gemini has expanded its XRP infrastructure in Singapore, prompting CEO Tyler Winklevoss to celebrate what he described as “big news” for Ripple’s Asian community.
The exchange now allows customers in Singapore to deposit and withdraw XRP directly via the XRP Ledger, providing a native route to move tokens between Gemini and compatible external wallets.
The development arrives days after XRP rebounded nearly 53% from below $1, placing Bitwise’s most optimistic $29.32 XRP price scenario back under the spotlight.
Tyler Winklevoss Celebrates ‘Ripple Army’ Expansion
In an Aug. 24 post on X, Winklevoss announced the new functionality directly to XRP supporters.
“Big news for the Ripple Army in Asia. Gemini users in Singapore can now deposit and withdraw XRP over the XRPL network.”
The integration means eligible users are no longer limited to buying, selling, or holding XRP within Gemini.
They can deposit tokens from supported external wallets and withdraw them directly to compatible XRP Ledger addresses.
Although the change does not constitute a new institutional partnership, it removes friction for Singapore customers who want to move XRP on-chain rather than leave it in Gemini’s custody.
The announcement also extends a broader expansion of XRP-related services at the exchange.
Gemini added XRP as eligible cross-collateral for derivatives trading in July 2025, allowing qualifying traders to use the token alongside Bitcoin and Ethereum to support leveraged positions.
One month later, Gemini and Ripple introduced an XRP edition of the Gemini Credit Card, offering up to 4% back in XRP on eligible fuel and rideshare spending.
The exchange subsequently enabled RLUSD deposits and withdrawals through XRPL in December 2025.
Winklevoss’s increasingly supportive tone represents a notable shift from 2020, when he clashed with XRP supporters online and described some community members as “dumb trolls.”
XRP Adds $0.52 During Six-Day Rally
Gemini’s announcement follows a dramatic recovery in XRP’s price.
The token fell to a cycle low of $0.9877 on Aug. 17 before reaching approximately $1.51 on Aug. 23.
That represents an increase of $0.5223 per token, equivalent to roughly a 52.9% gain in less than a week.
Over the same period, XRP’s market capitalization increased from approximately $62 billion to around $94 billion, adding roughly $32 billion.
The rebound began before Gemini’s Singapore announcement.
On Aug. 19, the US Treasury announced that it would at least double the maximum size of its longer-term bond buybacks from $2 billion to $4 billion per operation, beginning Sept. 9.
Long-term Treasury yields fell immediately following the announcement, while the dollar weakened.
The developments encouraged traders to move back into riskier assets, contributing to sharp gains across Bitcoin, Ethereum, and XRP.
XRP also benefited from traders being forced to close bearish positions as prices rose.
Meanwhile, US spot XRP ETFs registered approximately $39.78 million of inflows during the week ending Aug. 21, their strongest weekly result since May.
That included a record $18.38 million inflow on Aug. 21.
Institutional Momentum Revives Bitwise’s $29 XRP Price Scenario
The combination of expanding exchange infrastructure, improving ETF flows and XRP’s sharp recovery has renewed attention around Bitwise’s long-term valuation model.
In its investment case for XRP, the asset manager presented three possible paths for the token through 2030.
Its maximum-case scenario projects XRP’s price to reach $6.53 in 2026, $9.50 in 2027, $13.84 in 2028, and $20.14 in 2029, before climbing to $29.32 in 2030.
Even measured from XRP’s recent rally high of $1.51, the final target would require another $27.81 increase.
That would make XRP approximately 19.4 times more valuable, representing a gain of roughly 1,842%.
Bitwise’s more measured bull case puts XRP at $4.94 in 2026 and $12.68 by 2030.
Its bear model, meanwhile, assumes the token eventually collapses to $0.13.
Senior Bitwise Investment Strategist Juan Leon has argued that XRP’s investment case is improving as its earlier regulatory problems fade.
During an interview with Paul Barron, Leon said much of XRP’s historical volatility had been driven by uncertainty surrounding its regulatory and legal status.
With that uncertainty “mostly resolved,” Leon said Ripple’s growing partnerships and business revenue could provide further support.
“As we see more partnerships and more of those revenues start flowing, all of that should drive the price,” he said.
However, Leon did not specifically predict that XRP would reach $29.32.
His near-term argument was that a renewed crypto bull market could allow crypto to challenge previous record highs over the following 12 to 18 months.
Could XRP Price Realistically Reach $29?
Bitwise’s $29.32 figure is not impossible, but even its own report presents the target as an extreme scenario rather than the most likely outcome.
The model assumes Bitcoin reaches $1 million, giving it a market capitalization of approximately $21 trillion.
It also assumes XRP captures a meaningful share of the payments and tokenization industries and eventually reaches a market capitalization of around $2.9 trillion.
Bitwise estimated that the tokenization market could grow beyond $10.9 trillion by 2030, arguing that XRPL capturing even 1% to 2% of that opportunity could materially increase network activity.
However, network adoption does not automatically create proportional demand for XRP.
The XRP Ledger can host stablecoins and other currencies without requiring XRP to serve as the principal settlement asset.
XRP is still required for fees and account reserves, but those requirements remain extremely small.
Gemini’s Singapore integration, therefore, represents a genuine improvement in XRP accessibility, but it is only one step toward the scale of adoption required by the $29 scenario.
Ex-Ripple CTO Unconvinced on Extreme Targets
Former Ripple CTO David Schwartz believes extreme XRP targets are unlikely without major, currently unpredictable catalysts.
When asked whether XRP could reach between $50 and $100, the former Ripple executive said he did not consider such prices likely.
Schwartz argued that if large numbers of rational investors genuinely believed XRP had a meaningful chance of reaching $100 within several years, they would aggressively accumulate the token while it remained below $10.
A considerably lower market price, therefore, reflects how much confidence investors are currently willing to place in that outcome.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
