Robinhood re-lists XRP following Ripple’s legal win, boosting confidence among investors and expanding the coin's visibility on the platform.
XRP is now available to trade on Robinhood's platform for eligible EU users, signaling a cautious re-entry into the broader market.
Following the re-listing, XRP’s price saw volatility, spiking by 4% before retracting, while analysts predict further market fluctuations.
Robinhood has re-listed XRP as a tradable asset, signaling a new phase for the cryptocurrency after a lengthy legal battle between Ripple and the Securities and Exchange Commission (SEC). This update has excited the XRP community, as the popular investment platform had previously distanced itself from the asset due to legal uncertainties.
The decision comes after a significant legal win for Ripple, clarifying XRP’s regulatory status. Although other major exchanges, such as Coinbase and Kraken, had reintroduced the coin earlier, Robinhood was slower to follow. Its addition to XRP has generated renewed optimism, especially given the increased visibility the coin will now receive on a platform with millions of users.
XRP Listed on Robinhood’s Tradable Assets Page
Though Robinhood has not made an official statement regarding the XRP re-listing, users noticed its addition to the platform’s “About” page. XRP now joins a group of other supported cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). The inclusion has caught the attention of investors who are hopeful that the expanded audience could influence XRP’s market activity.
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However, the platform notes that cryptocurrency services are currently limited to users in the European Union. According to the updated information on Robinhood’s website, only eligible EU customers can access XRP trading services, through Robinhood Europe, UAB. This could limit the immediate impact on the U.S. market.
Ripple’s Legal Battle Resolution Drives Re-Listing
Robinhood’s decision to re-list XRP follows the official resolution of Ripple’s legal dispute with the SEC. Ripple is set to pay a $125 million civil penalty for violating securities laws, marking the end of a long regulatory battle. The clarity achieved through this legal conclusion is likely what has encouraged Robinhood to reintroduce XRP to its platform, as confidence in the coin’s future has significantly increased.
Previously, Robinhood’s hesitation may have been due to the ongoing legal issues that kept other platforms from listing the coin. Now, the broader market is opening up to XRP, with investors expecting more exchanges to follow suit.
XRP Price Shows Volatility Following the Re-Listing
The re-listing has also affected XRP’s price. Shortly after the update, XRP saw a 4% spike, reaching $0.596. However, it quickly retreated, with the price currently down by 2.58% to $0.5724. Technical indicators show new support levels forming at $0.5734, and analysts are watching closely to see if the price will either dip to $0.562 or rally toward the $0.61 mark.
The re-listing on Robinhood has sparked optimism that other platforms might reintroduce XRP, increasing its accessibility and possibly driving its price higher.
