Community Speculates Robinhood Listing XRP Could Be a Game-Changer Amid Bearish Trend

Community Speculates Robinhood Listing XRP Could Be a Game-Changer Amid Bearish Trend

Time Stamp: August 22, 2023 5:45 AM
Source Node: 2227593

Robinhood is rumored to list XRP before the end of the year, XRP community reacts.

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Like most cryptocurrencies, XRP is down by over 17% in its cumulative seven-day performance. While the digital asset market wallows in the bearish trend, the XRP community is speculating about a move that can potentially shoot up the value of XRP.

In a recent tweet, XRP influencer Crypto Assets Guy exposed the growing discussion surrounding listing XRP on a major exchange. In particular, he highlighted that rumors exist about the US-based exchange Robinhood listing XRP before the end of the year.

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Crypto Assets Guy argued that XRP investors can expect a massive uptrend should Robinhood list XRP on its platform. The influencer based his bullish XRP projection on Robinhood’s long-standing reputation for proper due diligence concerning coin listings.

This view implies Robinhood is known for being very selective when listing cryptocurrencies. Therefore, the platform listing XRP means it must be confident in the potential of the digital asset. In Crypto Assets Guy’s words:

“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.”

Crypto Community Reacts with Skepticism 

Meanwhile, the crypto community expressed varied opinions about the potential listing. A crypto enthusiast alleged that Robinhood is also known for delisting digital assets on the sight of any external pressure. 

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As The Crypto Basic reported, Robhinood delisted Cardano (ADA), Polygon (MATIC), and Solana (SOL) in June. The move came after the US regulator filed lawsuits against Binance and Coinbase, alleging that the cryptocurrencies were unregistered securities.

Meanwhile, another X user lamented the persistent calling of massive pumps on XRP in the light of even ‘small-ish news.’ The commenter expressed concern about how rumors and speculation drive prices, even without real underlying development.

Robinhood Listing XRP

According to a report, Robinhood commands a large user base of crypto traders. The report indicated that Robinhood traders exceeded nine million. Therefore, an XRP listing can potentially impact its price as it would become accessible to investors. 

Notably, the last time the official X handle of Robinhood mentioned XRP in a tweet was five years ago.

Its supported assets include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE),  Litecoin (LTC), and a few others.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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