Exciting developments continue to unfold in the crypto world. The XRP community recently discovered that popular commission-free stock and crypto trading platform Robinhood Markets Inc. has added support for XRP. While the company has not made an official announcement, XRP’s appearance on the platform’s supported assets page has created a buzz among the community. However, despite this significant development, there are still some important considerations to keep in mind.
XRP on Robinhood: Opportunity or Limitation?
While Robinhood’s listing of XRP is seen as a major boost for the cryptocurrency, there are certain limitations. According to information on the platform’s support page, XRP is currently only available to customers in the European Union (EU). This means that Robinhood users in the U.S. and other regions are unable to take advantage of this opportunity for the time being.
Robinhood’s addition of XRP brings the coin alongside other major assets already available on the platform, such as Aave, Shiba Inu (SHIB), Bitcoin (BTC), and Ethereum (ETH). This development adds more market makers for XRP, marking an important step in improving liquidity.
Following Bitstamp’s Move
Robinhood’s decision to list XRP follows speculation that arose after the platform acquired Bitstamp earlier this year. Bitstamp is a platform known for supporting XRP, and after the acquisition, there were expectations that Robinhood might also list XRP. However, one of the biggest hurdles in the process had been the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).
Ripple and SEC Battle Comes to an End
As Deythere reported, one of the key developments that paved the way for XRP’s re-listing on Robinhood was the conclusion of the legal battle between Ripple and the SEC. Ripple agreed to pay a $125 million fine to the SEC, bringing the case to a close. However, there is still some speculation that the SEC may appeal the ruling, which could create uncertainty in the future. The conclusion of this legal process has significantly increased interest in XRP, as it is now considered a more attractive asset for exchanges and businesses free from regulatory uncertainty. The impact of this news on the market has been swift.
At the time of writing, XRP was trading at $0.5898, up 3.75% over the past 24 hours. It was the only coin in the top 10 showing positive growth during that time. The Ripple-SEC case dragged on for nearly four years, during which many crypto exchanges removed XRP to avoid legal complications. Now that the case has been resolved, XRP is expected to reappear on many platforms. Robinhood’s listing of XRP is seen as a major step for investors, providing regulated access to this asset.
XRP re-listing, Robinhood, Ripple vs. SEC, crypto market growth
