Key figures within the XRP community are growing increasingly hopeful about the potential for XRP to be listed on the well-known American exchange, Robinhood, which is famous for its strict listing criteria.
Major U.S.-based exchanges like Coinbase, Gemini, and Kraken have all shown support for XRP by offering trading services for the digital asset. This support was reinstated after Ripple emerged victorious in a lawsuit against the SEC around a year ago, which determined that XRP is not a security. Despite this legal victory, Robinhood has chosen to keep its distance from XRP.
Currently, Robinhood only provides real-time market data for XRP. This service is available for more than 50 cryptocurrencies that the exchange does not currently allow trading for, including BNB, Cardano (ADA), and Solana (SOL). However, Robinhood has left the door open for the possibility of enabling trading for XRP and the other 50 tokens in the future.
The XRP community, known as the XRP Army, is growing more optimistic about the likelihood of XRP being listed on Robinhood following the announcement of Robinhood’s plan to acquire Bitstamp, a global crypto exchange that fully supports XRP.
The acquisition of Bitstamp by Robinhood will see Bitstamp’s extensive crypto exchange operations integrated into Robinhood’s platform, catering to both retail and institutional clients across various regions, including the U.K., U.S., EU, and Asia. The acquisition is expected to be finalized in the first half of 2025, subject to meeting standard closing conditions and obtaining regulatory approvals.
Support for the potential listing of XRP on Robinhood post-acquisition comes from Bitstamp’s robust backing of the XRP Ledger. Bitstamp has issued stablecoins for various currencies on the XRP Ledger, which has been highlighted by the XRPL dUNL Validator.
Bitstamp’s existing support for XRP trading has led to speculation that Robinhood may seamlessly continue this practice once the acquisition is complete. Additionally, Bitstamp’s plethora of global licenses and registrations could provide Robinhood with the necessary regulatory clearance to continue offering support for XRP.
There is also optimism within the community regarding the potential listing of Ripple’s forthcoming RLUSD stablecoin on Robinhood, given Ripple’s stake in Bitstamp. However, some members, like crypto sleuth Mr. Huber, remain cautious, suggesting that Robinhood could choose to delist XRP from Bitstamp’s platform post-acquisition.
It is important to note that this article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic does not take responsibility for any financial losses incurred.