Robinhood Lists XRP as it Gains Regulatory Clarity

🚀 Stay Ahead with AltcoinDaily.co! 🌐

By relisting it, financial market leader Robinhood Markets Inc. reinstated its support for the Ripple-associated XRP coin. Noteworthy, the brokerage firm is still waiting to announce the new development officially. However, a glance through its supported assets page confirms that XRP is now on the list alongside Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Toncoin (TON) and even Dogwifhat (WIF)

Potential XRP Price Boost

In light of the gradually increasing clarity regarding the regulation of Ripple-associated XRP, the Layer-1 coin has begun to gain positive traction. The XRP community is excited about this listing, especially given its potential. Listings on such top trading platforms often significantly boost the market outlook of crypto assets in question.

Furthermore, it is a huge win that Robinhood is bringing XRP access to its customers in the European Union. At the time of this writing, XRP traded at $0.5915, corresponding to a 3.78% increase in the last 24 hours. This makes it the only coin with positive gains in the top 10 of all assets.

🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

Robinhood Acquires Bitstamp

As far back as June, many analysts and market observers suspected the potential listing of the XRP coin. They linked it to the acquisition of fellow crypto exchange Bitstamp, which was still under consideration. Bitstamp is an XRP Ledger-friendly platform. Acquiring Bitstamp in a 200 million cash deal marks a significant expansion of the company’s foray into the digital asset space.

It is Robinhood’s chance to enhance its digital asset offerings and solidify its position in the rapidly growing crypto market. In addition, it put Robinhood in direct competition with prominent exchanges like Coinbase and Binance.

Grayscale Introduces XRP Trust

Apart from the support from Robinhood and other exchanges, Ripple’s XRP caught the attention of investment asset management firm Grayscale. A few days ago, the asset manager announced plans to launch a closed-end fund focused on XRP. This new XRP Trust offering will allow investors to gain direct exposure to XRP, which has seen renewed interest following recent legal developments.

🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

Grayscale previously offered this product but shuttered it in 2021 after the U.S. Securities and Exchange Commission (SEC) went after XRP over its securities status.