In a groundbreaking update, Robinhood, the popular crypto-friendly trading app, has expanded its altcoin offerings by adding Ripple’s XRP, Solana (SOL), Cardano’s ADA, and PEPE for its United States customers. This new listing has generated excitement across the crypto community, as Robinhood’s platform provides extensive exposure for these altcoins, potentially sparking a surge in their popularity and value.
This major expansion of Robinhood’s crypto offerings comes just a week after Donald Trump’s reelection as U.S. president, which many believe could usher in a friendlier regulatory environment for cryptocurrencies. Trump’s stance on promoting crypto growth and pledges to reform the SEC have created a wave of optimism within the industry, as his administration is anticipated to establish more supportive policies.
According to Johann Kerbrat, Robinhood Crypto’s General Manager, the platform is committed to meeting customer demand for a diverse crypto selection. He expressed confidence that expanding crypto options offers investment opportunities for those previously underserved by traditional finance, reducing entry barriers and democratizing access to digital assets like XRP, ADA, SOL, and PEPE.
The addition of these tokens comes after Robinhood’s previous decision to remove SOL and ADA when they were classified as unregistered securities in lawsuits from the SEC against Binance and Coinbase. With a potential shift in the SEC’s regulatory stance under Trump, Robinhood appears to have renewed confidence in offering these altcoins to U.S. users.
Ripple’s XRP has been at the center of a prolonged legal battle with the SEC, with a federal judge ruling in 2023 that XRP was not a security when traded on exchanges. This ruling marked a significant victory for Ripple, yet the SEC filed an appeal in October. The favorable listing on Robinhood could be a key moment in XRP’s journey toward mainstream acceptance in the U.S. crypto market.
Robinhood has also encountered its regulatory hurdles, receiving a Wells Notice from the SEC in May 2023. The notice alleged violations of securities laws, intensifying scrutiny on the platform. Despite these regulatory pressures, Robinhood’s decision to add more altcoins suggests it is confident in the evolving regulatory landscape.
Meanwhile, the inclusion of PEPE, a popular meme coin, has sparked excitement among retail investors and meme coin enthusiasts. The frog-themed token saw a 38% price surge following listing announcements on both Robinhood and Coinbase, reaching an all-time high of $0.00002127. This price jump highlights the impact of major platform listings on meme coins’ market performance.
With Trump’s administration expected to overhaul SEC leadership, the prospect of relaxed regulations appears promising for Robinhood and the broader crypto market. Trump has pledged to replace the SEC chairman and introduce a more crypto-friendly framework, a move eagerly awaited by many in the industry.
As Robinhood continues expanding its crypto offerings, the addition of XRP, SOL, ADA, and PEPE could mark the beginning of a new chapter in U.S. crypto trading.