XRP has achieved another major milestone with a new listing from Robinhood, one of the top American financial services companies. This move comes on the heels of Garyscale’s launch of an XRP trust and is expected to boost XRP’s global exposure, potentially triggering a price rally above $1.
XRP Secures Robinhood Listing
The inclusion of XRP on Robinhood is a major achievement for the popular cryptocurrency and the broader crypto community. After gaining legal clarity from the court case between Ripple and the United States Securities and Exchange Commission (SEC), XRP has recently acquired a more favorable outlook from various crypto-focused companies.
XRP, being one of the most widely used cryptocurrency payment methods, will now expand its services to new audiences in Europe. The cryptocurrency has been listed on the European version of Robinhood and is set to benefit from the popularity and support of the platform.
Robinhood Europe is known for its commission-free trading services and a wide variety of listed cryptocurrencies. Through this platform, investors in Europe will be able to trade one of the most popular cryptocurrencies without incurring lofty transaction fees, and ultimately increasing adoption for XRP.
Following the announcement of this major milestone, many in the XRP community have voiced their support and appreciation. This excitement has been further fueled by Grayscale’s recent launch of an XRP Trust in the US.
“Relisting XRP is a huge win for the community. Combine that with the Bitstamp acquisition and Grayscale’s new XRP Trust—this is just the beginning!,” an XRP community member stated.
The potential introduction of an XRP Exchange Traded Fund (ETF) in the wake of Grayscale’s Trust launch has also caused a notable price surge, with XRP increasing by over 8% in the previous week. With the new listing on Robinhood and Grayscale’s XRP trust now in play, the price of the cryptocurrency may be gearing up for a major rally soon.
Will New Listing Push XRP’s Price To Over $1?
The price of XRP has been consolidating around the $0.5 mark for years, leading some investors to believe the cryptocurrency might be intentionally suppressed. While other altcoins rallied this year, XRP failed to maintain a steady momentum.
However, XRP may be showing promising signs of recovery, with a recent 7.5% rally over the past week, driven by Grayscale’s XRP trust launch. This momentum, coupled with Robinhood’s new listing hints at a potential price boost for XRP.
As European investors begin using XRP Robinhood to trade XRP, the increase in demand for the cryptocurrency could potentially catalyze a price increase above $1. As of writing, the cryptocurrency is trading at $0.57, marking a slight decrease of 2.6%, according to CoinMarketCap.
Many XRP supporters are also optimistic about the cryptocurrency’s future outlook, expecting more bullish milestones before the end of the year.
Featured image created with Dall.E, chart from Tradingview.com