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- Robinhood’s relisting of XRP is seen as a major vote of confidence in the cryptocurrency’s future.
- Ripple’s legal victory has boosted optimism, driving wider adoption of XRP through platforms like Robinhood.
Robinhood has made a significant move by officially relisting XRP on its platform. This move enables over 23 million Robinhood users to trade XRP, dramatically enhancing the token’s prominence and accessibility.
The relisting is especially noteworthy given XRP’s earlier delisting from various platforms as a result of Ripple’s legal battle with the United States Securities and Exchange Commission (SEC). Robinhood’s move is now viewed as a watershed moment for XRP, indicating increased trust in the token’s future as it regains market momentum.
Looks like Robinhood just listed #XRP !@RobinhoodApp please make the following change:
XRP Ledger (XRP), instead of Ripple (XRP).
Ripple is the company, not the network 🤗 pic.twitter.com/rbbMNCthLB
— Vet 🏴☠️ (@Vet_X0) September 14, 2024
Relisting Follows Ripple’s Legal Triumph, Boosting Confidence in XRP
The timing of this relisting couldn’t be better. Ripple’s partial triumph in court earlier this year, in which it successfully contended that XRP was not a security under certain conditions, has given the cryptocurrency a renewed sense of legal clarity.
This court verdict not only served to reestablish trust in XRP but also created the framework for its comeback on conventional trading platforms. Robinhood’s move to relist XRP is currently considered a significant vote of confidence in the coin, perhaps encouraging other platforms to reconsider their stance on XRP.
For traders and investors, this might signal the start of a wider acceptance of XRP, especially considering the token’s potential for worldwide payments and cross-border transactions.
Other significant developments in the cryptocurrency industry have increased the enthusiasm surrounding XRP’s relisting. As we previously reported, one example is the establishment of Grayscale’s XRP Trust, an investment vehicle designed to offer institutional investors exposure to XRP.
This move is intended to provide more chances for institutional investors to contribute to the expansion of the XRP ecosystem.
Furthermore, improvements in decentralized finance (DeFi) are projected to promote further use cases for XRP, bolstering its position in the crypto sector. As XRP gains traction, its relisting on Robinhood could be a critical trigger for its widespread adoption and use.
Meanwhile, Robinhood has made waves for its increased support for other major cryptocurrencies. On August, Robinhood Wallet launched support for Solana, enabling millions of users to send, receive, and save SOL tokens.
This move positioned Solana with other popular cryptocurrencies offered by Robinhood Wallet, including Bitcoin, Ethereum, and Polygon. Robinhood’s expansion of its service to include Solana demonstrates its dedication to embracing a wide spectrum of blockchain technology and responding to its users different interests.
As of this writing, XRP is trading at approximately $0.5868, slightly down 0.24% over the last 24 hours. This small fall comes after a big gain over the few days.
