Robinhood Is Bringing Ripple’s RLUSD to Millions of Users. Could XRP Get Back to $3?

Ripple has strengthened its partnership with Robinhood (NASDAQ:HOOD | HOOD Price Prediction) by integrating Ripple’s stablecoin, Ripple USD (CRYPTO:RLUSD), into their platform. The Robinhood RLUSD deal also includes Ripple Prime, a brokerage service, and Ripple Treasury, a suite designed to help manage funds.

Robinhood plans to use RLUSD to settle institutional trades and automate treasury operations, while gaining greater access to crypto trading and financing through Ripple Prime and Bitstamp, the exchange Robinhood acquired. However, Robinhood has not made specific details about financial commitments or transaction volumes public.

Later this year, Robinhood intends to offer RLUSD to retail customers, even though it previously helped launch a competing dollar stablecoin, Global Dollar (CRYPTO:USDG). Ripple and Robinhood have not announced a specific launch date for RLUSD’s retail offering.

XRP (CRYPTO:XRP) is trading at $1.32, up 2.0% over the last 24 hours after a 13.0% drop over the past month. XRP remains 63.8% below its all-time high of $3.65 from July 17, 2025, and would need a 127.3% rise to reclaim the $3 mark. Ahead of its third-quarter earnings report, Robinhood’s stock jumped by about 2.9% to $96, with analysts projecting earnings of about 55 cents a share.

Robinhood Welcomes RLUSD, Ripple Prime, and Ripple Treasury

RLUSD is a stablecoin designed to maintain a steady value of $1. It operates on both the XRP Ledger and Ethereum and has a market capitalization of about $2.61 billion, placing it 41st among crypto assets. Furthermore, Ripple has received approval from the Office of the Comptroller of the Currency to operate Ripple National Trust Bank.

Ripple Prime, previously known as Hidden Road, is a prime brokerage service that Ripple acquired. This service lends money to hedge funds and trading firms, clears their trades, and holds their collateral, allowing them to trade across multiple exchanges through a single account. Ripple Prime also facilitates over-the-counter trading in both XRP and RLUSD, enabling private transactions between two parties.

Ripple Treasury helps corporate treasury teams manage their cash by displaying balances in XRP, RLUSD, and other tokens alongside traditional cash. This setup lets Robinhood’s finance team conduct and track transactions anytime, including on weekends.

Johann Kerbrat, Robinhood Crypto’s general manager, said, “Bitstamp and Robinhood will have access to RLUSD for institutional settlement, Ripple Treasury for our operations, and Ripple Prime for financing.” All the uses he mentioned are institutional or internal, which underscores the nature of this partnership.

Robinhood’s Crypto Revenue Is Shrinking

While Robinhood generated $1.31 billion in total revenue in the second quarter of 2026—up 32% from the previous year—it still relies largely on trading. This includes $776 million from transaction revenue, led by $342 million from options trading, and $389 million from net interest revenue on customer cash and margin loans.

In contrast, Robinhood’s crypto revenue fell 38% year-over-year to $100 million in the second quarter, down from $268 million in the third quarter of 2025. Despite the drop, Robinhood added nearly 1 million funded customers in the second quarter, the largest quarterly increase since its IPO.

Robinhood Backs a Rival Stablecoin, and XRP Was Left Out

Interestingly, Robinhood is also backing a competing stablecoin. Its in-app lending product, Robinhood Earn, operates on the Robinhood Chain and utilizes USDG, which offers a 7% annual percentage yield. Customers have deposited over $200 million into Earn within a few weeks, suggesting that RLUSD may face stiff competition for users’ funds within Robinhood’s platform. Additionally, Robinhood earns a small percentage from each transaction processed through its Ethereum layer-2 network.

Ripple also faces strong competition from Circle Internet Group (NYSE:CRCL), which is developing a similar business model through the Circle Payments Network, leveraging USD Coin (CRYPTO:USDC), RLUSD’s most significant regulated competitor.

Ripple President Monica Long noted, “Stablecoins have evolved from a crypto trading tool into a critical piece of financial infrastructure.” She said the agreement includes RLUSD settlement on the XRP Ledger, where RLUSD transactions incur minimal fees paid in XRP that are then burned.

However, neither Kerbrat nor Long mentioned XRP as a bridge or settlement asset, and the companies did not provide any minimum transaction volumes or specify any proportions between XRP Ledger and Ethereum activities. Robinhood’s second-quarter earnings call did not mention Ripple, RLUSD, or XRP. This implies Robinhood can use RLUSD without any obligation to buy XRP.

Can the RLUSD Partnership Drive XRP Back to $3?

The short answer is no, at least not alone. The Robinhood RLUSD partnership primarily generates demand for RLUSD, while distribution, financing, and treasury services mainly benefit Ripple. XRP may earn some small transaction fees when RLUSD settles on its ledger, but this alone is unlikely to propel XRP back to the $3 mark.

XRP’s 2025 run to $3.65 came as the SEC’s lawsuit against Ripple wound down and asset managers filed for spot XRP ETFs. So a return to $3 could take a catalyst that big, such as sustained ETF inflows or banks using XRP as a bridge currency in volume. Our view could change if Robinhood or Ripple names XRP as a settlement asset for RLUSD flows.

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