Key figures within the XRP community are growing increasingly hopeful about the potential for XRP to be listed on the prestigious American exchange Robinhood, known for its stringent listing criteria.
Prominent U.S.-based exchanges such as Coinbase, Gemini, and Kraken have shown their support for trading XRP, reinstating it 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 kept its distance from the digital asset.
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). Robinhood has hinted at the possibility of enabling the buying and selling of XRP and these other tokens in the future.
The XRP community, also known as the XRP Army, is hopeful that this day might be approaching sooner than anticipated following Robinhood’s announcement of its intention to acquire Bitstamp, a global cryptocurrency exchange that fully supports XRP.
The acquisition of Bitstamp will see its extensive operations integrated into Robinhood’s platform, catering to both retail and institutional clients in the U.K., U.S., E.U., and Asia. The deal is anticipated to be finalized in the first half of 2025, subject to meeting standard closing conditions and securing necessary regulatory approvals.
A significant argument for XRP’s potential listing on Robinhood post-acquisition is Bitstamp’s robust backing of the XRP Ledger. Bitstamp has issued stablecoins in various fiat currencies on the XRP Ledger, a fact that has been highlighted by Vet, an XRPL dUNL Validator, in response to the acquisition news.
Furthermore, with Bitstamp’s existing support for XRP trading, there is optimism that Robinhood could seamlessly continue this practice.
Additionally, Bitstamp’s extensive licenses and registrations globally provide Robinhood with a solid regulatory foundation to continue supporting XRP following the acquisition. Some community members are even speculating that Robinhood might consider listing Ripple’s upcoming RLUSD stablecoin given Ripple’s stake in Bitstamp.
While some are optimistic about the potential listing of both XRP and Ripple’s stablecoin on Robinhood, others like crypto investigator Mr. Huber are more cautious, suggesting the possibility of XRP being delisted from Bitstamp’s platform post-acquisition.
Please note that this article is for informational purposes only and should not be construed as financial advice. The opinions expressed are those of the author and do not necessarily reflect The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not liable for any financial losses incurred.
