Key figures within the XRP community are increasingly hopeful about the potential of XRP being listed on the well-known American exchange Robinhood, which is known for its stringent listing criteria.
Major U.S.-based exchanges like Coinbase, Gemini, and Kraken have already resumed trading services for XRP following Ripple’s legal victory against the SEC about a year ago. Despite the court ruling that XRP is not a security, Robinhood has remained cautious about the cryptocurrency.
Currently, Robinhood only provides real-time market data for XRP. This service is extended to more than 50 other digital assets that are not available for trading on the platform, such as BNB, Cardano (ADA), and Solana (SOL). However, Robinhood has hinted at the possibility of enabling buying and selling of XRP and these additional tokens in the future.
On a related note, the XRP community is optimistic about the potential listing of XRP on Robinhood following the announcement of Robinhood’s intention to acquire Bitstamp, a global cryptocurrency exchange that supports XRP.
The acquisition of Bitstamp by Robinhood will involve integrating Bitstamp’s vast crypto exchange operations into Robinhood’s platform, catering to both retail and institutional clients across various regions. The deal is anticipated to be finalized in the first half of 2025, subject to standard closing conditions and regulatory approvals.
One of the reasons supporting XRP’s potential listing on Robinhood post-acquisition is Bitstamp’s robust backing of the XRP Ledger, evident in the issuance of stablecoins for multiple fiat currencies on the XRP Ledger.
Vet, a validator of the XRPL dUNL, highlighted this aspect following the acquisition news, suggesting that Robinhood will inherit the necessary technology to list tokens issued on the XRPL. With Bitstamp already facilitating XRP trading, Vet implied that Robinhood could seamlessly continue this practice.
Additionally, Bitstamp’s extensive regulatory approvals globally, exceeding 50 active licenses and registrations, provide Robinhood with the necessary clearance to continue supporting XRP after the acquisition. With Ripple’s stake in Bitstamp, there is optimism within the community about the potential listing of not only XRP but also Ripple’s upcoming stablecoin RLUSD on Robinhood.
While some community members share this positive outlook, others like Mr. Huber are more skeptical, suggesting that Robinhood may delist XRP from Bitstamp’s platform after the acquisition is finalized.
It is important to note that this content is for informational purposes and should not be construed as financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic holds no responsibility for any financial losses incurred.
