Robinhood Adds UNI, XLM, and XTZ for NY Users XRP Listing Could Be Next After EU Debut

The lawsuit frightened XRP investors, making them believe they could hold a security. Many XRP maximalists tried to calm the market by stating that most XRP trading was outside the US. Hence, the SEC’s jurisdiction had no bearing on them and wouldn’t affect the price. XRP lost almost 70% of its value in days following the SEC’s lawsuit announcement. Securities and Exchange Commission announced that it had filed a lawsuit against Ripple Labs Inc. and two of its executives, who are also large security holders.

The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community. Some wallets also facilitate buying XRP directly, but the fees might be higher using them. XRP Ledger does not have a native wallet that allows you to buy XRP directly. However, several third-party wallets support XRP purchases directly within them, and some mobile wallets allow you to buy XRP and store the keys on your phone.

• Community is at the heart of the Rollblock offer, with generous staking rewards being powered by a unique revenue-sharing scheme that will see token balances on exchanges decline at a rate of knots.
• Investing in Ethereum through an ETF is an accessible way for those who want exposure to Ethereum without directly purchasing the cryptocurrency.
• Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.
• If the SEC were to emerge victorious, then it could impact the potential listing of XRP on a platform such as Robinhood.
• The author has not received compensation for writing this article, other than from FXStreet.
• After peaking at $0.75, XRP price has retraced mildly to consolidate above the $0.73 level at press time on Thursday.

Users can currently watch XRP price chart, the altcoin is yet to be listed for trading. However, P2P services may have lower liquidity and higher transaction costs compared to centralized exchanges. Additionally, due to the privacy they provide, how to start and run an insurance brokerage firm they might be under surveillance by authorities interested in finding money laundering schemes. You could unknowingly and quickly become part of an illegal transaction and find yourself in some legal trouble. XRP can also be earned inactively from lending, liquidity provision, and rewards programs but not from staking. Staking is the process of locking up or holding a certain amount of cryptocurrency to participate in the validation of transactions on a blockchain network.

The XRP cryptocurrency managed to outperform the broader cryptocurrency market earlier today, surging by more than 4%. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. As discussed, there are a number of reasons why you might want to purchase XRP, and if you do, there different options for where to buy it, depending on your priorities and experience.

So, if you’re in the US, we think it’s already clear why you can’t buy XRP. On the other hand, if Ripple wins, the CFTC’s lighter regulations would likely apply, and blockchain technology would be freer to develop. By the way, a potential downside would be the lack of legal safeguards against criminal activity. Though many states that the potential for something to be used in a crime doesn’t justify regulating fair use.

Coinbase vs. Robinhood: Fees

Always confirm important product information with the relevant provider and read the relevant disclosure documents and terms and conditions before making a decision. Compare today’s price of Ripple ($1.10 USD) against its all-time high (ATH) price of $3.40 USD on January 07, 2018. The closer the bar is to 100%, the closer XRP is to reaching its ATH again. You’ll find the spot market under a “Trade” or “Spot” heading on the site or app menu of the platform you’ve chosen to use.

Where do I purchase XRP?

Robinhood listing XRP adds a layer of credibility to the token, especially after Ripple’s legal issues with the SEC . While some exchanges were hesitant to list it, Robinhood’s decision signals trust in XRP’s future. The SEC looks to be undergoing a defeat in its recent appeal of last year’s court decision around the sale of illegal securities on US exchanges. Ripple has won a legal victory, narrowing class claims in Ripple’s favor. The court has dismissed class union machine learning for industrial applications suits over Ripple’s securities status. This has given Ripple Labs huge confidence in a favorable outcome for the case as it prepares to launch its RLUSD stablecoin in the weeks ahead.

And Still, Why Can’t I Buy XRP?

Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

You can also buy and sell XRP much more frequently to generate returns more often, taking advantage of the XRP price volatility. People who trade XRP often use skills such as technical analysis best white label forex brokers and providers 2023 to identify the best times to buy and sell. Some cryptocurrency exchanges or brokers, such as Capital.com, facilitate the trading of XRP derivatives, like CFDs, enabling traders to profit from XRP price movement without actually owning it. Coinbase keeps 98% of digital assets in air-gapped cold storage and holds an insurance policy to cover potential breaches of cryptocurrencies held in hot wallets. While crypto exchanges will often support a panoply of assets, Robinhood’s roster of available assets has been comparatively limited.

Today’s Ripple price versus ATH

This cross-chain compatibility allows users to diversify their investments without having to use multiple wallets or exchanges, which makes Lunex ideal for traders who seek convenience and efficiency. Lunex Network also has enticing financial rewards for those who own $LNEX tokens. Ripple is a payments company that specializes in cross-border remittance. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. Crypto ATMs are kiosks that allow users to buy and sell cryptocurrencies using cash or debit cards.