The crypto community is currently buzzing with excitement and curiosity following rumors of Robinhood potentially listing XRP. These rumors come as the XRP price falls to pre-judgment levels, sparking hope that it could trigger a reversal.
XRP Rumors Has Crypto Twitter In A Frenzy
Rumor has it that an anonymous insider has confirmed the potential listing of XRP, the native token of Ripple, on Robinhood, an American financial trading platform, before the end of 2023. The rumor was started on August 22 by a crypto user on X (formerly Twitter) who goes by the username @25hoursawake.
The whispers of Robinhood listing XRP have sent shockwaves in the crypto community and numerous crypto investors and enthusiasts have taken to Twitter to air out their respective views and opinions on the speculation.
Robinhood is renowned for its meticulous listing process, and according to an X user Crypto Asset Guy, Robinhood has a reputation for not just listing any type of cryptocurrency. The trading platform puts considerable effort and time into its crypto listing procedure to ensure only the highest-qualified cryptocurrencies according to their standards are integrated into its platform.
Alternatively, the crypto and stock trading platform is also known for delisting cryptocurrencies without a second thought, if said cryptocurrency faces any form of regulatory or significant market challenges.
As the crypto space eagerly discusses the ramifications of Robinhood potentially listing XRP, some enthusiasts argue that integrating XRP tokens into the platform would have a positive outlook, exposing the digital asset to a wider audience and increasing investments in Robinhood.
Token price falls to levels before Judge Torres's ruling | Source: XRPUSD on Tradingview.com
Other individuals have pointed out Robinhood’s affinity for restricting trades and transactions during high market volatility. This has led to doubts about the platform’s ability to provide uninterrupted access to XRP users’ digital assets.
Commenting on the rumors of Robinhood listing XRP, Crypto Assets Guy stated that if the speculations prove to be true, then the crypto community should look forward to a surge in investments and market trends. He emphasized that Robinhood may have insights on XRP, unbeknownst to the public.
“If the rumors are true and Robinhood lists $XRP by the end of the year then prepare for a MASSIVE uptrend. Robinhood is known for being very tedious when selecting which crypto to list. So if they are getting ready to list XRP they must know something,” he said.
Additionally, the outcome would undoubtedly increase the cryptocurrency’s mainstream adoption.
Analyzing The Potential Effect Of A Robinhood Listing
Ripple has been in an ongoing lawsuit with the United States Securities and Exchange Commission (SEC) for almost three years now. The lawsuit was thought to be finalized after XRP took a win following Judge Analisa Torres’s ruling which stated that programmatic XRP sales are not to be considered a security.
However, the SEC has recently issued an interlocutory appeal to reevaluate the case. This move has pushed XRP back to a potentially red zone in terms of regulatory challenges. If the SEC were to emerge victorious, then it could impact the potential listing of XRP on a platform such as Robinhood.
Featured image from Coinmarketcap, chart from Tradingview.com
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