XRP re-listing on Robinhood could fuel a double-digit price rally, pushing XRP to $0.66

• Robinhood, the commission-free exchange platform relists XRP, on the official website.
• Users cannot trade XRP Ledger’s native token on the exchange yet, XRP is back above $0.59 on Sunday.
• XRP eyes gains of nearly 12%, targets July 2024 peak of $0.6602.

Ripple (XRP) is back on the commission-free exchange Robinhood on the platform’s official website. Currently, users can track the XRP price chart, the altcoin has not yet been listed for trading.

XRP bounced back above the key resistance at $0.5900 and is poised for a return to the July 2024 peak of $0.6602.

Robinhood is bringing back XRP to its platform

The commission-free exchange has brought back Ripple’s XRP token on its platform, however users have to wait longer before they can start trading the altcoin. In July 2023, the XRP Ledger’s native token gained legal clarity and was re-listed on major crypto exchanges around the world.

Robinhood relists XRP

Robinhood has finally listed XRP on its zero-fee exchange and is showing off its price tracker. The website shows that traders can track XRP and trade other cryptocurrencies. XRP holders are keeping their eyes peeled for the exchange’s announcement to start trading the XRP Ledger’s native token.

In recent news, asset management giant Grayscale has announced a single asset investment fund focused on XRP. The development increases the likelihood of greater institutional capital flow and the utility of XRP, which could contribute to the asset’s gains.

XRP could rise to $0.6602

XRP has been in a multi-month downtrend since its July 2023 peak of $0.9380, as seen on the XRP/USDT daily chart. The altcoin is likely poised for double-digit gains, up 11.91% to the 50% Fibonacci retracement of the decline from $0.9380 in July 2023 to $0.3823 in July 2024.

The MACD (Moving Average Convergence Divergence) momentum indicator is flashing green histogram bars above the neutral line, which means there is underlying positive momentum in the XRP price trend.

XRP could face resistance at the psychologically important $0.60 level and $0.6217, the lowest since July 31 for the altcoin.

XRP/USDT Daily Chart

Looking to the downside, XRP could find support in the fair value gap (FVG) between $0.5745 and $0.5854.