- Robinhood has added XRP, signaling a potential market shift.
- U.S. users have seemingly been left out as XRP remains unavailable.
- XRP’s future has remained tied to ongoing regulatory uncertainty.
Robinhood, the popular commission-free brokerage, appears to have quietly added XRP to its list of supported cryptocurrencies, signaling a potential shift in the coin’s market visibility. While the brokerage has not officially confirmed the addition, XRP is featured on Robinhood’s updated assets page alongside other major digital currencies.
This listing comes with a key limitation: it is currently only available to users in the European Union. Including the token on Robinhood is a noteworthy development for the cryptocurrency community, especially given Ripple Labs and XRP’s regulatory challenges in recent years.
Is XRP Ready for a Robinhood Listing?
Speculation about XRP’s potential listing gained traction after Robinhood acquired Bitstamp, a trading platform that supports the token. Many saw the acquisition as a strategic move that would allow Robinhood to offer XRP, but the legal battle between Ripple Labs and the U.S. SEC had long been a roadblock.
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That legal uncertainty was partly resolved when a court ordered Ripple Labs to pay $125 million in fines, clearing some of the hurdles that had kept the token off major exchanges. The case’s conclusion has positively affected XRP’s market performance, with the coin seeing a 1.3% increase in value over the past 24 hours, trading at $0.588.
XRP’s Positive Growth Amidst SEC Settlement
This makes XRP the only cryptocurrency among the top 10 to post positive growth during this period. The token’s previous delistings from many U.S.-based exchanges were largely due to concerns about regulatory compliance amid the SEC’s lawsuit.
Now that the case is settled, there is growing anticipation that more platforms, particularly in the U.S., will begin supporting the cryptocurrency once again. Despite geographic limits, Robinhood’s addition of XRP marks a key step in expanding its accessibility and market presence.
On the Flipside
- Despite the listing, XRP remains inaccessible to many of Robinhood’s user base, especially in the United States.
- Despite the SEC lawsuit’s settlement, the broader regulatory outlook for cryptocurrencies like XRP remains uncertain, affecting future listings and trading.
Why This Matters
The Robinhood listing of the token, while currently limited to the EU, signifies a potential turning point for cryptocurrency. The listing not only expands accessibility but also underscores a growing trend of mainstream financial platforms embracing digital assets, suggesting a shift in the overall crypto market landscape.
To learn more about the impact of Ripple’s XRPL technology on Bitstamp’s new derivatives exchange, read here:
Ripple’s XRPL Set to Boost Bitstamp’s New Derivatives Exchange
To learn more about the recent developments in the SEC lawsuit against Ripple and its implications for the token, read here:
XRP Lawsuit: SEC Hints at No Appeal, Ripple Remains Optimistic
