Key points:
Gemini leapfrogged Coinbase in U.S. App Store finance rankings after launching its XRP rewards credit card with Ripple and Mastercard.
The move strengthens Gemini’s consumer-facing presence as it prepares for a Nasdaq IPO under ticker GEMI.
News - Gemini, the exchange founded by Cameron and Tyler Winklevoss, has overtaken Coinbase on the U.S. App Store finance rankings following the launch of its XRP rewards credit card. The limited-edition card, developed in partnership with Ripple Labs and Mastercard, offers up to 4% cashback in XRP across categories like fuel, EV charging, dining, and groceries.
According to Sensor Tower data, Gemini climbed as high as 11th place in the finance category while Coinbase slipped to 20th, despite Coinbase’s daily trading volumes being more than triple Gemini’s. Ripple CEO Brad Garlinghouse hailed the launch as a milestone, calling it “a great time to be alive for the XRP family.”
A strategic push for market share - The card launch has quickly become a differentiator for Gemini in the crowded exchange space. With instant XRP rewards and no waiting period, Gemini is directly targeting the XRP community while showcasing real-world crypto utility. The addition of merchant deals offering up to 10% back in XRP further boosts its appeal.
Ripple partnership and IPO momentum - The timing coincides with Gemini’s IPO filing under the ticker GEMI. Ripple extended a $75 million credit facility to support Gemini’s listing, potentially expanding to $150 million, while also pushing its RLUSD stablecoin for U.S. spot trading. With Goldman Sachs, Morgan Stanley, and Citigroup leading the syndicate, Gemini is positioning itself to become the third U.S. exchange to go public.
XRP price volatility lingers - XRP itself has struggled to hold above $3.00, sliding 3.2% to $2.91 during the August 25–26 window before rebounding modestly. Analysts flagged $2.84 as near-term support, while resistance at $2.96 could cap gains unless institutional inflows build.$XRP
