Robinhood Adds UNI, XLM, And XTZ For NY Users; Is XRP Next?

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As a seasoned analyst with over two decades of experience in the financial markets, I find the recent developments at Robinhood particularly intriguing. The addition of Uniswap (UNI), Stellar (XLM), and Tezos (XTZ) for New York users is a strategic move that underscores the platform’s growing focus on the digital assets space.

Robinhood, a well-known commission-free trading platform for stocks and cryptocurrencies, has disclosed that New York users will soon have access to three new digital currencies: Uniswap (UNI), Stellar (XLM), and Tezos (XTZ). This move indicates Robinhood’s increasing attention towards the crypto market. Furthermore, there are rumors circulating that XRP might be the next cryptocurrency added for New York users on the platform.

Robinhood Adds UNI, XLM, and XTZ For NY Users

Based on a recent declaration, Robinhood is expanding its offerings to include Uniswap, Stellar, and Tezos for New York residents. Over time, this platform has seen significant growth, particularly within the cryptocurrency community, due to its growing emphasis on this specific sector.

As an analyst, I’ve observed that this announcement has sparked conversations about the possible influence of the platform’s involvement with cryptocurrencies. Typically, such listings or endorsements by prominent platforms or leading crypto exchanges can strengthen market confidence, leading to a rise in the value of associated assets.

Simultaneously, with the expectation that the announcement could ignite a surge in the values of the three cryptos, there have been lively debates within the XRP community regarding whether their platform might incorporate XRP as a future asset.

Significantly, the system presently accommodates 14 cryptocurrencies for New York users, encompassing Bitcoin, Ethereum, popular meme coins such as Dogecoin, Shiba Inu, and more. It’s been suggested that the stock and cryptocurrency trading platform may soon incorporate Ripple‘s native currency in its offerings.

Is XRP Next In Line For Listing?

Talks have arisen due to Robinhood’s recent integration of XRP for European users. Despite the absence of an official statement from the platform, their website indicates this addition, which boosted market enthusiasm during the past few weeks.

Furthermore, the outcome of the Ripple vs SEC lawsuit has sparked debate, considering the legal status of cryptocurrency within the region. Now, with talks increasing about a possible US SEC appeal regarding XRP, investors are curious to know if the stock and crypto trading platform plans to offer XRP for traders based in the U.S.

After the announcement of its listing, UNI‘s price increased by 0.73% to reach $6.84, and its trading volume surged by 9%, amounting to $114.47 million. Conversely, XLM‘s price dipped by 0.6% to settle at $0.095, while XTZ remained relatively stable at $0.6974.

At the same time, the value of XRP dropped slightly by approximately 0.37% to reach $0.585. Meanwhile, its daily trading volume saw a drop of nearly 9%, settling at $923.98 million. It’s worth mentioning that within the past day, Ripple’s native cryptocurrency reached a high of $0.5908 and a low of $0.5819.

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2024-09-24 18:13