Robinhood Adds XLM To Crypto Transfers, XRP Next

Robinhood Crypto EU on Wednesday said it has decided to add Stellar (XLM) to crypto transfers, increasing the number of cryptocurrencies supported in the service. XLM price continued to drop as traders considered a broader market sentiment, with price down 1% in the last 24 hours. Will this likely lead to adding XRP next?

Robinhood Crypto Now Supports Stellar (XLM)

Commission-free investing app Robinhood Europe’s crypto arm in an official announcement on October 23 revealed that it has added XLM to cryptocurrencies supported in crypto transfers.

Moreover, users can withdraw and deposit their XLM on the platform for a 1% deposit bonus. It will be available for a limited time.

Crypto transfers allow European customers to deposit and withdraw over 25 cryptocurrencies, including Bitcoin, Ethereum, Solana, and USDC. It offers users control, security, and crime insurance, along with educational program benefits.

This week, the crypto platform also added Solana to crypto transfers as the Solana ETF launch odds buzz in the crypto community. Similarly, a potential launch of XRP ETF has also witnessed rising speculation. Robinhood listed XRP on the platform for trading, but for EU users only.

As CoinGape reported, the company excluded tokens from the crypto transfer feature launched earlier this month. These are Ripple’s XRP, zkSync (ZK), Wormhole (W), Arbitrum (ARB), Cosmos (ATOM), Polkadot (DOT), EOS, Fantom (FTM), Jupiter (JUP), Near Protocol (NEAR), Optimism (OP), Celestia (TIA), Toncoin (TON).

“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers,” said Johann Kerbrat, VP and GM of Robinhood Crypto.

XLM Price Fails to Rebound

Traders didn’t respond to the announcement by Robinhood. XLM price continues to trade 1% lower in the last 24 hours. XLM price currently trades at $0.09429. The 24-hour low and high are $0.09434 and $0.09663, respectively. However, the trading volume has increased by 17% in the last 24 hours, indicating interest among traders.

On the contrary, the derivatives market has seen positive buying in the last 24 hours. Total XLM futures OI jumped over 3% to 320.31 million valued at $30.18 million, as per Coinglass data.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.