Prominent figures in the XRP community have become increasingly optimistic about the possibility of XRP listing on the American exchange Robinhood, renowned for its strict listing policies.
Notably, leading U.S.-based exchanges such as Coinbase, Gemini, and Kraken support trading services for XRP, having relisted it after Ripple secured a lawsuit victory against the SEC about a year ago. Despite the ruling that XRP is not a security, Robinhood has continued to distance itself from XRP.
At present, Robinhood only supports XRP’s real-time market data. This service is available to over 50 crypto assets the exchange does not approve for trading, including BNB, Cardano (ADA), and Solana (SOL). Robinhood has maintained that it may add support for buying and selling XRP and the other 50 tokens in the future.
Robinhood Acquires Pro-XRP Exchange
Meanwhile, the XRP Army believes this day is now closer than expected amid Robinhood’s announced plan to acquire Bitstamp, a global crypto exchange that supports XRP.
According to the official notification, Robinhood’s acquisition of Bitstamp will integrate Bitstamp’s extensive crypto exchange operations into Robinhood’s platform, serving retail and institutional clients across the U.K., U.S., E.U., and Asia.
The deal is expected to be completed in the first half of 2025, pending the satisfaction of standard closing conditions and obtaining the necessary regulatory approvals.
Notably, arguments supporting XRP’s potential listing on Robinhood following this acquisition include Bitstamp’s strong support for the XRP Ledger. For instance, Bitstamp issued stablecoins for USD, EUR, JPY, GBP, AUD, and CHF on the XRP Ledger.
Vet, an XRPL dUNL Validator, highlighted this point following the acquisition news. He noted that Robinhood will inherit the necessary technical infrastructure to list tokens issued on the XRPL.
Moreover, given that Bitstamp already facilitates XRP trading, Vet suggested that Robinhood could seamlessly continue this practice.
Interesting fact, Bitstamp has the following stablecoins already issued on the XRP Ledger
– USD
– EUR
– JPY
– GBP
– AUD
– CHFRobinhood now also has the tech infrastructure to list XRPL issued tokens. https://t.co/eAUlC9A8ui pic.twitter.com/kFJHtum4cv
— Vet 🏴☠️ (@Vet_X0) June 6, 2024
Optimism for Listing of XRP and Ripple’s Stablecoin
Furthermore, Bitstamp holds over 50 active licenses and registrations globally, providing Robinhood with ample regulatory clearance to continue support for XRP upon acquisition.
Other community members are also optimistic about the potential XRP listing due to Ripple’s stake in Bitstamp. Pseudonymous community member XRP DROPZ argued that with the acquisition, Robinhood might even list Ripple’s forthcoming RLUSD stablecoin.
Echoing this sentiment, the XRPL dUNL Validator emphasized that both XRP and Ripple’s stablecoin have strong chances of being listed, bolstered by Bitstamp’s support for the XRP Ledger.
Meanwhile, crypto sleuth Mr. Huber is less optimistic. Reacting to the upcoming acquisition, he suggested that Robinhood could delist XRP from Bitstamp’s platform when the deal goes through.
Oh boy, XRP delisting incoming. https://t.co/sLZYYIxVZ7
— Mr. Huber🔥🦅🔥 (@Leerzeit) June 6, 2024
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
