- Robinhood, commission-less exchange platform re-lists XRP, per official website.
- Users cannot trade XRP Ledger’s native token on the exchange yet, XRP is back above $0.59 on Sunday.
- XRP eyes nearly 12% gains, targets July 2024 peak of $0.6602.
Ripple (XRP) is back on the commission-free exchange Robinhood per the official website of the platform. Users can currently watch XRP price chart, the altcoin is yet to be listed for trading.
XRP made a comeback above key resistance at $0.5900 and gears up for a return to its July 2024 peak of $0.6602.
Robinhood brings back XRP to its platform
The commission-free exchange brought back Ripple’s XRP token to its platform however users have to wait longer before they can begin trading in the altcoin. In July 2023, XRP Ledger’s native token gained legal clarity and was re-listed at major crypto exchanges worldwide.
Robinhood relists XRP
Robinhood has finally listed XRP on its zero-commission exchange and shows the price tracker. The website shows traders can watch XRP and trade in other crypto currencies. XRP holders keep their eyes peeled for the exchange’s announcement to kickstart trading in the native token of the XRP Ledger.
In recent news, Grayscale, asset management giant, announced a single asset investment fund focused on XRP. The development boosts the likelihood of higher institutional capital inflow and utility for XRP, could contribute to gains in the asset.
XRP could rally to $0.6602
XRP has been in a multi-month downward trend since its July 2023 top of $0.9380, as seen in the XRP/USDT daily chart. The altcoin is likely primed for double-digit gains, 11.91% rally to the 50% Fibonacci retracement of the decline from July 2023 top of $0.9380 to the July 2024 bottom of $0.3823.
The Moving Average Convergence Divergence (MACD) momentum indicator flashes green histogram bars above the neutral line, meaning there is underlying positive momentum in XRP price trend.
XRP could face resistance at the psychologically important $0.60 level and $0.6217, the July 31 low for the altcoin.
XRP/USDT daily chart
Looking down, XRP could find support in the Fair Value Gap (FVG) between $0.5745 and $0.5854.
Ripple FAQs
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. 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.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: WazirX exploiter moves nearly $12 million Ether to new address, Bitcoin, ETH post gains
Bitcoin trades above $58,000 at the time of writing, adding 2% to its value this week. Ethereum hovers around $2,300 as WazirX exchange exploiter moves 5,000 Ether to a new wallet address and a crypto mixer.
Bitcoin Weekly Forecast: On the road to $60,000
Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.
OpenAI releases new series of models, likely driver of Artificial Intelligence tokens market cap
OpenAI, an American artificial intelligence research organization headed by Sam Altman of the Worldcoin (WLD) project, made a key announcement on September 12.
Bitcoin and Ethereum traders could watch this signal for the next bull run
Crypto mining is the process by which new Bitcoin and Ethereum enter circulation. Data from crypto intelligence tracker shows that wallets of Bitcoin and Ethereum miners noted a decline in their holdings of the assets in the first half of the year.
Bitcoin: On the road to $60,000
Bitcoin (BTC) has risen 6% so far this week, an upward trend that will likely continue following Wednesday’s successful retest of the $56,000 daily support level. A rally towards $60,000 looks likely in the upcoming week as US-listed spot Bition Exchange-traded Funds (ETF) registered net inflows and BTC’s exchange flow balance and supply on exchanges decreased.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.