Key figures within the XRP community are growing increasingly hopeful about the prospect of XRP being listed on the prestigious American exchange, Robinhood, known for its stringent listing criteria.
Major U.S.-based exchanges such as Coinbase, Gemini, and Kraken have already shown their support for XRP by offering trading services after Ripple emerged victorious in a lawsuit against the SEC approximately a year ago. Despite the ruling that XRP is not a security, Robinhood has remained hesitant to associate itself with XRP.
Currently, Robinhood only provides real-time market data for XRP. This service is extended to more than 50 cryptocurrencies that the exchange does not currently allow for trading, including BNB, Cardano (ADA), and Solana (SOL). However, Robinhood has left the door open to potentially enabling the buying and selling of XRP and the other 50 tokens in the future.
Meanwhile, the XRP community is buzzing with excitement as Robinhood recently announced its intention to acquire Bitstamp, a global cryptocurrency exchange that fully supports XRP. The acquisition will see Bitstamp’s extensive operations integrated into Robinhood’s platform, catering to retail and institutional clients across several regions.
The deal is anticipated to be finalized in the first half of 2025, subject to meeting standard closing conditions and securing the necessary regulatory approvals.
One of the main arguments in favor of XRP being listed on Robinhood post-acquisition is Bitstamp’s robust backing of the XRP Ledger. Notably, Bitstamp has issued stablecoins for various fiat currencies on the XRP Ledger, which has caught the attention of the XRP Army.
Vet, a reputable XRPL dUNL Validator, highlighted the significance of this development, suggesting that Robinhood would inherit the required technical infrastructure to list tokens issued on the XRPL. Furthermore, with Bitstamp already facilitating XRP trading, Vet proposed that Robinhood could seamlessly continue this practice.
Moreover, with Bitstamp holding over 50 active licenses and registrations globally, Robinhood would have the necessary regulatory clearance to continue supporting XRP post-acquisition. Some community members are optimistic about the potential listing of XRP, especially considering Ripple’s stake in Bitstamp. There are even speculations that Robinhood might consider listing Ripple’s upcoming RLUSD stablecoin.
While some, like the crypto sleuth Mr. Huber, remain cautious about the acquisition, suggesting that Robinhood could potentially delist XRP from Bitstamp’s platform in the future.
It is important to note that this content is for informational purposes only 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 Crypto Basic’s views. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.
