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 known for its strict listing criteria.
Notably, major U.S.-based exchanges such as Coinbase, Gemini, and Kraken have begun offering trading services for XRP again following Ripple’s legal victory against the SEC approximately a year ago. Despite the ruling that XRP is not a security, Robinhood has chosen to keep its distance from the cryptocurrency.
Currently, Robinhood only provides real-time market data for XRP. This service is accessible for over 50 different cryptocurrencies that the exchange does not currently allow for trading, including BNB, Cardano (ADA), and Solana (SOL). However, Robinhood has left the door open for potentially enabling the buying and selling of XRP and these other tokens in the future.
In a major development, the XRP community, often referred to as the XRP Army, sees hope on the horizon with the announcement that Robinhood plans to acquire Bitstamp, a global crypto exchange that supports XRP trading.
According to the official announcement, Robinhood’s acquisition of Bitstamp will merge Bitstamp’s extensive crypto exchange operations into Robinhood’s platform, catering to retail and institutional clients across the U.K., U.S., E.U., and Asia. The deal is expected to be finalized in the first half of 2025, subject to standard closing conditions and regulatory approvals.
Supporters of XRP’s potential listing on Robinhood following this acquisition point to Bitstamp’s strong backing of the XRP Ledger. For example, Bitstamp has issued stablecoins for various currencies on the XRP Ledger, which could be a promising sign for XRP’s future on Robinhood.
In addition, the XRPL dUNL Validator has highlighted that Robinhood will inherit the necessary technical infrastructure to list tokens issued on the XRP Ledger through this acquisition. With Bitstamp already facilitating XRP trading, there is optimism that Robinhood could seamlessly continue this practice.
Furthermore, Bitstamp’s extensive regulatory licenses globally could pave the way for Robinhood to continue supporting XRP post-acquisition. Some community members even speculate that Ripple’s forthcoming stablecoin, RLUSD, could also find its way onto Robinhood’s platform in the future.
While there is optimism within the XRP community about the potential listing of both XRP and Ripple’s stablecoin on Robinhood, there are some skeptics as well. It remains to be seen how this acquisition will impact the future of XRP trading on Robinhood’s platform.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The opinions expressed are solely 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 holds no responsibility for any financial losses incurred.