TLDR
- Robinhood (HOOD) stock rose about 3% Tuesday to around $95 after announcing a Ripple partnership.
- RLUSD will be listed on Robinhood’s app later this year and used to settle institutional trades.
- Robinhood will also use Ripple Treasury and Ripple Prime for cash management and financing.
- HOOD is down 15% in 2026, on track for its worst year since 2022.
- Third-quarter earnings come after the close Tuesday.
Robinhood (HOOD) stock rose about 3% in Tuesday trading, reaching around $95. The move came after the company announced a deal with Ripple Labs to expand use of Ripple’s RLUSD stablecoin. The gain snapped a three-day losing streak.
Even with the pop, HOOD is down 15% in 2026. That puts it on pace for its worst year since 2022, according to Dow Jones Market Data. Not the comeback story bulls wanted, at least not yet.
The timing is hard to miss. Robinhood reports third-quarter results after the market closes Tuesday, so the Ripple news lands just hours before the numbers.
What the Ripple deal covers
Under the agreement, RLUSD will be available through Robinhood’s investing app later this year. It will also be listed on the trading platform. RLUSD is already available on Bitstamp and on Robinhood Chain.
Robinhood will use RLUSD to settle institutional trades. It will also tap Ripple Treasury to automate its own treasury operations. Ripple Prime will provide financing and digital asset trading access through Bitstamp.
Johann Kerbrat, Robinhood Crypto general manager, said “utility is what moves stablecoins forward.” He added that the deal reflects “a connected, global financial system.”
Ripple President Monica Long said stablecoins have grown from a crypto trading tool into financial infrastructure. She said the Robinhood deal is about “fundamentally changing how money moves and is managed.”
RLUSD launched in December 2024. Its market cap has grown to more than $2.5 billion. The overall stablecoin market now tops $300 billion, with Tether’s USDT and Circle’s USDC still leading.
Circle is also building out services beyond issuing coins. Earlier this year it launched the Circle Payments Network for cross-border payments using USDC. It competes with Ripple Payments, an eight-year-old business.
XRP, Ripple’s native token, rose 0.9% over the past 24 hours to $1.31, according to CoinDesk.
Crypto revenue under pressure
The deal follows other crypto moves by Robinhood. In July, the company launched its own blockchain for tokenized stocks and other assets. It has also expanded crypto trading into the U.K. and added decentralized lending products.
Those steps come as crypto trading has cooled. In the second quarter, crypto revenue fell 38% to $100 million from a year earlier. Trading volume on the app dropped 35% to $18 billion.
Overall revenue told a different story. It rose 32% to a record $1.31 billion, helped by stronger options, stock and prediction-market trading.
Wall Street has turned more upbeat in recent weeks. Rosenblatt analyst Chris Brendler started coverage last week with a Buy rating and a $135 price target. He called Robinhood a “generational growth story.”
J.P. Morgan analysts were more careful. They warned that competition from traditional brokerages and crypto platforms could threaten Robinhood’s growth.
Robinhood reports third-quarter earnings after the close Tuesday. Investors will look for any update on crypto trading volumes.
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