- XRP saw a 7.50% surge after Robinhood quietly relisted XRP for EU customers following the resolution of Ripple’s legal battle with the SEC.
- Following the resolution of the SEC’s lawsuit, XRP has seen a flurry of positive developments, including Grayscale Investments, which recently reintroduced its XRP Trust.
Ripple’s XRP has seen a 7.50% surge in the past week following the quiet relisting on Robinhood. Over the weekend, we saw a deviation from the norm for XRP. The token rallied past the $0.59 mark, nearly reclaiming its July high of $0.6602. This significant surge came on the heels of Robinhood’s decision to reintroduce XRP for trading, though the move is only limited to European Union users for now.
Even though Robinhood has not made any official announcements, its updated asset page confirms that XRP is now available to trade under the name Ripple (XRP). This development has sparked discussions among XRP enthusiasts, who have pointed out that Ripple does not actually run the XRP coin.
Initially, Robinhood listed XRP in January 2018, However together with other crypto exchanges, Robinhood delisted the digital asset when the U.S. Securities and Exchange Commission charged Ripple for violating securities laws through the sale of XRP. As of the time of press, XRP trading is only available to EU-based users. Also, it’s unclear whether this support will stretch to U.S. customers.
The Ripple-SEC showdown stands as a pivotal moment in the evolution of the crypto industry. The legal battle that saw Ripple’s legal team in and out of court doors for almost 4 years now recently concluded with a final judgment effectively ruling in Ripple’s favor. Despite speculations that the SEC would appeal the ruling, recent developments have it that the SEC seemed to have given up an appeal on the XRP ruling after admitting that some listed cryptos in the Binance lawsuit are not securities.
Notably, this pivotal decision has paved the way for XRP’s gradual return to several major exchanges, including Robinhood. The relisting of Robinhood for EU customers signals growing confidence in XRP’s legal status following a lengthy period of uncertainty.
Rumors about Robinhood’s potential relisting of XRP began earlier this year when they acquired Bitstamp, a digital asset exchange valued at $200 million. The acquisition, slated to close in 2025, could provide Robinhood with access to a wider range of cryptocurrencies, including XRP, and potentially cater to institutional investors. Many within the industry interpreted this move as a precursor to Robinhood’s renewed support for XRP.
Following the resolution of the SEC’s lawsuit, XRP has seen a flurry of positive developments, including Grayscale Investments. It is worth noting that Grayscale Investments recently reintroduced its XRP Trust, a crypto product that gives accredited investors access to XRP. This suggests that XRP may see even more support in the coming weeks and months.
