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Saturday, June 8, 2024
HomeCryptoRobinhood May List Ripple's XRP After Acquiring the Exchange

Robinhood May List Ripple’s XRP After Acquiring the Exchange

Robinhood May List Ripple's XRP After Acquiring the Exchange

Cryptocurrency exchange Robinhood has announced that it will acquire cryptocurrency exchange Bitstamp in a cash deal worth $200 million.

This development has led to online speculation whether Ripple’s XRP will eventually be included in Robinhood, as Bitstamp is an XRP Ledger-friendly platform.

The acquisition agreement will integrate Bitstamp’s operations into Robinhood. Furthermore, the acquisition is expected to be completed in the first half of 2025. Bitstamp’s operations include clients from Asia, the United States, the United Kingdom, and the European Union.

According to Johann Kerbrat, General Manager of Robinhood, “The acquisition of Bitstamp is an important step in growing our cryptocurrency business. Bitstamp’s longstanding and trusted global exchange has shown resilience through market cycles. By seamlessly combining customer experience with safety across geographies, the Bitstamp team has built one of the strongest reputations among retail and institutional crypto investors. position .’

Since Bitstamp facilitates the trading of Ripple’s XRP token, this activity could continue after Robinhood’s acquisition. However, some say that the exchange may remove the token from the Bitstamp platform once the transaction is complete.

Will Ripple’s XRP increase in price if listed on Robinhood?

Robinhood is one of the most popular cryptocurrency exchanges in the world. The platform has approximately 23.9 million sponsored customers and 13.7 million monthly active users. If the exchange lists XRP, the asset could see a significant increase in adoption and thus its price.

However, Ripple’s ongoing lawsuit with the SEC (Securities and Exchange Commission) could create hurdles for XRP’s growth. Robinhood may not list the token until the lawsuit is resolved.

Last year, a US district court ruled partially in favor of Ripple. The court held that the sale of XRP to retail customers did not violate securities laws. However, the case has now reached the high court and investors are awaiting a verdict.

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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