The XRP cryptocurrency managed to outperform the broader cryptocurrency market earlier today, surging by more than 4%.
Notably, XRP ended up being the only top 10 cryptocurrency in the green.
XRP's recent price spike is likely related to the Robinhood relisting rumors that recently spread within the community.
Vet, the operator of the XRP Ledger dUNL validator, commented that the popular trading and investment app recently listed XRP. However, he urged the company to clarify that the token is not run by Ripple.
Alex DovbnyaHowever, multiple social media users were complaining that they still could not buy XRP with the help of the app. So far, it seems like the token is only available for eligible EU residents.
Robinhood has not made any official announcement regarding its plan to list the XRP cryptocurrency. All the way back in January 2018, Robinhood announced that its users could start checking market data and create price alerts for a slew of cryptocurrencies, including XRP.
The rumored Robinhood listing comes after Grayscale, the leading cryptocurrency asset manager in the world, announced the launch of an XRP Trust. Back in 2021, Grayscale liquidated such a product following the SEC's famous lawsuit against Ripple. Now that the XRP token has gained some legal clarity, Grayscale is comfortable with giving XRP another go.
Of course, it should also be noted that Coinbase and other exchanges relisted XRP in 2023.
Back in June, Chicago-based derivatives trading behemoth CME also added support for the XRP pricing index, further legitimizing the cryptocurrency.
Godfrey Benjamin
Dan Burgin
Vladislav Sopov