The XRP community has voiced notable dissatisfaction with Gemini’s newly introduced derivative product, highlighting deeper frustrations around the exchange’s ongoing treatment of Ripple’s native token. While crypto investors generally welcome new listings and financial instruments, Gemini’s latest move has sparked criticism rather than celebration from XRP supporters.

Gemini Launches XRP Derivatives Amid Mixed Reaction

Earlier this week, Gemini unveiled perpetual futures contracts for various cryptocurrencies, including XRP. This fits into a broader effort by the exchange to expand tradable derivatives and capture growing market interest. But for many XRP enthusiasts, the announcement falls short of expectations.

Gemini’s listing includes perpetual futures tied to XRP prices, catering primarily to institutional and sophisticated retail investors. These instruments allow traders to take leveraged long or short positions without an expiration date. While this type of product is welcomed for market liquidity, many XRP fans see it as a lukewarm gesture rather than a commitment to properly list the token on Gemini’s spot market.

Spot Market Absence Sparks Frustration

The core issue for XRP holders is that Gemini still does not support XRP in its spot trading market. Even though it briefly relisted the token after Judge Analisa Torres ruled in 2023 that XRP was not a security for retail investors, the reintroduction was short-lived. The lack of full spot trading support contrasts with how Gemini continues to treat other popular tokens like Bitcoin and Ethereum.

An active XRP community member mocked the move by stating that a derivatives listing without spot access was like opening a “random casino game,” clearly skeptical of Gemini’s intentions. Many in the community share this sentiment, arguing that the exchange is attempting to profit from XRP’s volatility without supporting the asset in a meaningful way.

Tension Between Gemini and XRP Supporters Persists

This is not the first time Gemini has faced backlash from the XRP community. After the exchange initially resumed XRP spot trading following Ripple’s partial legal victory, it later reversed the decision quietly. This inconsistent support has fueled a narrative that Gemini holds a dismissive or even antagonistic stance toward Ripple’s ecosystem.

Community frustrations have also been amplified by comparisons with other major exchanges, such as Binance and Kraken, which have reinstated spot trading for XRP and actively support liquidity options. For many analysts and retail traders, the absence of spot markets on Gemini makes the futures product feel incomplete and more like a symbolic gesture than genuine engagement.

Caption: XRP’s derivatives launch on Gemini has drawn criticism from token supporters due to the lack of spot trading support.

What This Means for Ripple and the Broader Market

Despite the pushback, Gemini’s derivative listing still underscores the continued demand for XRP trading instruments. The move highlights the asset’s relevance in crypto markets, especially among speculative traders and institutions looking to hedge or gain leveraged exposure. However, without full spot access, Gemini may have a hard time winning over one of the most vocal and organized communities in digital finance.

Ripple, the company behind XRP, has not made a public statement regarding Gemini’s latest offering. Still, industry observers suggest that exchanges that fully embrace spot and derivative products for XRP stand to benefit from its fiercely loyal user base.

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Until then, the tension between centralized platforms and the XRP community is likely to continue, especially when actions are perceived as half-measures rather than full support.