By Michael Scott
US-based crypto platform Robinhood relists XRP, Solana, and Cardano while adding PEPE memecoin as regulatory concerns subsides.
A Wednesday, November 13 update by Robinhood confirmed the reintroduction of XRP, Cardano (ADA), and Solana (SOL). Their relisting coincides with the addition of Pepecoin (PEPE) for trading in the US, as the country’s regulatory tensions seem to subside following the GOP’s victory via Donald Trump.
The California-based crypto exchange informed the crypto community that the platform added support for three altcoins. This development is a key win for memecoin, as Robinhood added its maiden support for PEPE.
The support eliminates the barriers that deny the US clients access to the crypto assets via the platform. The latest listing elevates the cryptocurrencies that US clients can access via Robinhood to 19. Adding PEPE adds to the existing memecoin pair including Shina Inu (SHIB) and Dogecoin (DOGE).
Robinhood Avail XRP, ADA, and SOL Despite Regulatory Uncertainties
Robinhood is availing Cardano, Solana, and XRP despite earlier delisting them citing regulatory uncertainties. The Robinhood platform appears convinced that no sanctions from the Securities and Exchange Commission (SEC) are forthcoming as it adds altcoins long profiled as securities by the agency.
The crypto exchange platform delisted the XRP four years ago following the charges leveled by the SEC against Ripple Labs. The Wall Street regulator alleged Ripple offered XRP to the US investors despite the native token being unregistered security.
Robinhood in mid-2023 confirmed it would delist SOL and ADA alongside other tokens amid regulatory uncertainty.
The SEC classified several altcoins as unregistered securities in the lawsuit filed against crypto exchanges Binance and Coinbase. The move compelled Robinhood to delist the altcoins as a precautionary initiative.
The XRP relisting on Wednesday for the US clients came barely two months after the platform quietly reintroduced the seventh-ranked crypto by value to the European market. The addition has elevated XRP by 2.7% in the last 24 hours and 32.0% in the seven-day run to change hands at $0.7254.
Altcoins React to Re-listing on Robinhood
The relisting of Solana triggered a 3% rebound to reclaim the $215 similarly as XRP and ADA received substantial boosts to appreciate 5% and 4.5%, respectively. The former has registered an elevated market cap at $41 billion while ADA has reclaimed the $19.74 billion value.
Pepecoin registered the largest boost with an 18.8% intraday gain and 115% in the past week. The memecoin is exchanging hands at $0.00002136 with its market cap rising to $8.963 billion.
Expert Bullish on XRP Amid Robinhood Listing
Legendary analyst Armando Pantoja highlighted the substantial upside potential for the XRP price. The Angel investor believes Ripple’s token could blast to $8 in the short term and $30 in the long run.
The bullish prediction emerges amid the meticulous rally registered by XRP as Robinhood reversed the delisting decision to include its support. The XRP listing catapulted the crypto into the broader movement across trading platforms. Notably, Coinbase, which was already supporting the assets re-listed by Robinhood, confirmed the addition of PEPE and WIF. The move delivers broader access for retail investors across leading exchanges.
Pantoja illustrates a technical pattern that would replicate past price surges that lifted the XRP from cents to trade above $3. The analyst considers a repeat rally is likely to test even an ambitious target in the range of $8-$30. The analyst urges investors into action to leverage the final lap to acquire XRP under $1.
The move by Robinhood to make crypto available to US users follows the recent elections that analysts credit as the birth of a friendlier stance in the Trump-led administration.
Robinhood vice president for crypto Johann Kerbrat admitted responding to customers’ desire for more access to digital assets. The executive explained that Robinhood would expand the crypto offering as part of the ongoing response to the clients’ demand.
Editorial credit: gguy / Shutterstock.com