Rumors of Robinhood XRP Listing Sparks Community Speculation

XRP community members are buzzing with curiosity and excitement following rumors that American financial trading giant Robinhood may soon list the coin on its platform. 

According to rumors making the rounds within the XRP community, the leading trading platform may list XRP by the first quarter of 2024. 

Rumor About XRP Listing on Robinhood 

The fresh rumor surfaced yesterday and was first shared on X (formerly Twitter) by a crypto enthusiast who goes by the username @UniverseTweenty.  

JUST IN 🚨🚨 Rumours In The #XRPCommunity That Robinhood Will List #XRP In Q1 Of 2024.💥💥🚀🚀🚀 pic.twitter.com/XPlhzPe7sM

— XRP CAPTAIN (@UniverseTwenty) November 21, 2023

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As expected, the rumors of the Robinhood potential listing have sent ripples through the XRP community as cryptocurrency enthusiasts take to the X platform to express their opinions regarding the speculation. 

XRP Plunges Over 3% in 24 Hours

It is worth mentioning that the rumors did not positively impact the price of XRP. At the time of writing this line, XRP was down 3.1% over the past 24 hours to $0.591. 

However, XRP’s recent dip is attributed to the massive price swing of Bitcoin (BTC) yesterday, which saw the top asset slump from over $37,400 to around $35,788. Bitcoin is currently changing hands at $36,500 at press time. 

Robinhood Listing Process 

Robinhood has always taken a meticulous process when listing any crypto asset on its trading platform. Interestingly, it does not take anything for Robinhood to delist any token subject to regulatory scrutiny. 

In June, the trading platform ended support for SOL, MATIC, and ADA due to the SEC classifying all coins as unregistered securities. 

As a result of Robinhood’s decision against SOL, MATIC, and ADA, it is evident that the trading platform has refused to enable support for XRP due to the ongoing SEC v. Ripple lawsuit. 

Although a New York federal court declared in July that XRP in itself is not a security, Robinhood has maintained silence on the potential listing of the coin. 

Despite the declaration, the SEC v. Ripple lawsuit still has other pending issues, especially the remedies proceeding. Additionally, the SEC could appeal the court’s July 13 ruling after the remedies briefing, which could further hinder the chances of XRP listing on Robinhood in the future.  

Notably, Robinhood still tracks the price performance of the fifth-largest cryptocurrency by market cap on its platform.  

Meanwhile, several rumors have emerged, suggesting that Robinhood is seriously considering listing XRP. In August, rumors surfaced that XRP would be listed on Robinhood by year’s end. Now, some users are speculating that the listing will take place in Q1 2024. It remains to be seen whether these rumors will come to fruition.