Key figures within the XRP community are growing increasingly positive about the potential for XRP to be listed on the well-known American exchange Robinhood, which is recognized for its stringent listing criteria.
Major U.S.-based exchanges like Coinbase, Gemini, and Kraken have all shown their support for trading XRP, having reinstated it following Ripple’s legal victory against the SEC about a year ago. Despite the determination that XRP is not a security, Robinhood has chosen to keep its distance from the cryptocurrency.
Currently, Robinhood only offers real-time market data for XRP. This service is extended to more than 50 cryptocurrencies that the exchange does not currently allow for trading, such as BNB, Cardano (ADA), and Solana (SOL). Robinhood has left the door open to potentially enabling the purchase and sale of XRP and these other tokens in the future.
The XRP community, known as the XRP Army, is optimistic that the day when XRP is listed on Robinhood is fast approaching, following Robinhood’s announcement of its intention to acquire Bitstamp, a global crypto exchange that supports XRP.
With the acquisition, Bitstamp’s robust support for the XRP Ledger is seen as a key factor that could lead to XRP being listed on Robinhood. Bitstamp has issued stablecoins in various fiat currencies on the XRP Ledger, which is a positive sign for XRP’s potential listing on Robinhood.
Vet, a prominent XRPL dUNL Validator, highlighted the technical infrastructure that Robinhood will inherit through the acquisition, which could facilitate the listing of tokens issued on the XRP Ledger. There is hope that with Bitstamp’s existing support for XRP trading, Robinhood could seamlessly continue this practice.
Moreover, Bitstamp’s extensive regulatory licenses and registrations globally provide Robinhood with the necessary regulatory clearance to support XRP post-acquisition. This, combined with Ripple’s stake in Bitstamp, has raised hopes within the community that Robinhood may even consider listing Ripple’s upcoming RLUSD stablecoin.
While some members of the community remain cautious about the outcome of the acquisition, there is a prevailing sense of optimism that both XRP and Ripple’s stablecoin have a strong chance of being listed on Robinhood, backed by Bitstamp’s support for the XRP Ledger.
As the acquisition progresses, there are differing opinions within the community about the potential outcomes, with some expressing concerns about the possibility of XRP being delisted from Bitstamp’s platform once the deal is finalized.
Please note that the information provided in this article is for informational purposes only and should not be construed as financial advice. The opinions expressed 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, as The Crypto Basic is not liable for any financial losses incurred.