Key figures within the XRP community are growing more hopeful about the potential for XRP to be listed on the prestigious American exchange Robinhood, known for its stringent listing criteria.
While major U.S.-based exchanges like Coinbase, Gemini, and Kraken have already reinstated XRP trading services following Ripple’s legal victory against the SEC approximately a year ago, Robinhood has remained aloof from XRP despite the ruling that it is not a security.
Currently, Robinhood only offers real-time market data for XRP, along with more than 50 other cryptocurrencies that are not approved for trading on the platform, such as BNB, Cardano (ADA), and Solana (SOL). However, Robinhood has hinted at the possibility of enabling the buying and selling of XRP and the other restricted 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, especially after Robinhood revealed its intentions to acquire Bitstamp, a global cryptocurrency exchange that supports XRP.
The acquisition of Bitstamp by Robinhood is expected to bring Bitstamp’s extensive operations 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 customary closing conditions and securing regulatory approvals.
One compelling reason for anticipating XRP’s listing on Robinhood post-acquisition is Bitstamp’s robust backing of the XRP Ledger, evident from its issuance of stablecoins for various currencies on the ledger.
Vet, a prominent XRPL dUNL Validator, underscored this point, suggesting that Robinhood would gain the necessary technical infrastructure to list tokens issued on the XRPL through the acquisition. Additionally, considering Bitstamp’s existing support for XRP trading, Vet proposed that Robinhood could seamlessly continue this practice.
In addition, Bitstamp’s possession of over 50 active licenses and registrations globally would provide Robinhood with the regulatory clearance needed to continue supporting XRP after the acquisition. Some community members are also optimistic about the possibility of XRP being listed due to Ripple’s stake in Bitstamp, speculating that Robinhood might even include Ripple’s upcoming RLUSD stablecoin in its offerings.
Despite the positive outlook within the community, some, like crypto investigator Mr. Huber, remain cautious, suggesting that Robinhood could potentially delist XRP from Bitstamp’s platform post-acquisition.
This article is for informational purposes only and should not be interpreted as financial advice. The opinions expressed are solely those of the author and do not represent the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, as The Crypto Basic does not assume responsibility for any financial losses incurred.