Uphold, a top crypto exchange headquartered in New York is among the few digital asset trading platforms that continued to support XRP irrespective of the heated Ripple-SEC legal battle over the categorization of the XRP Ledger native token.
Per a Tuesday tweet, Uphold revealed that XRP was never delisted from its trading platform amid the SEC claiming that the crypto asset is a security, not a commodity. In addition, the United States-based exchange affirmed its support for the XRP community.
“Uphold never delisted XRP. We’ve always been there for the XRP community,” the team wrote.
PSA: Uphold never delisted $XRP 😎
We've always been there for the #XRP community 💚#UpholdXRP #relistXRP
— Uphold (@UpholdInc) April 4, 2023
Reacting to this, John Deaton, the attorney representing over 75k XRP holders in the Ripple-SEC hailed the exchange for taking advantage of the opportunity to make gains from XRP trades.
Deaton wrote, “Between January 2021 and January 2023, I bet XRP represents a healthy percentage of trading fees earned at Uphold. Very smart business decision to not suspend trading and wait until the decision comes down by the Court.”
Meanwhile, some U.S.-based crypto exchanges including Coinbase ceased support for XRP following the SEC case against Ripple. As published, the “RelistXRP” hashtag got trending on Twitter a couple of weeks ago as community members joined voices to pressure Coinbase.
It bears noting that the reserves of Uphold currently hold about 2.1 billion XRP which is worth $1,079,850,490 ($1.07 billion) at the time of writing. Accordingly, XRP is one of the single largest holdings on Uphold, surpassing that of Bitcoin (BTC). Per the exchange’s Proof of Reserve (PoR) data, Uphold has only $131.1 million worth of BTC.
Recall also that XRP trading volume overshadowed that of Bitcoin across the top 4 South Korean crypto exchanges including Upbit, Coinone, Korbit, and Bithumb. Going by the analysis from top TA experts, XRP might be in for a big rally if the SEC v. Ripple lawsuit ends in favor of the asset.
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