battle is whether XRP is a security or not. Ripple Labs has maintained that XRP is a currency and not a security, and therefore not subject to SEC regulation.
Despite the ongoing legal battle, Uphold has decided to stand by XRP and its users. In a statement, the company said, “Uphold has always been committed to providing our users with access to a wide range of digital assets, including XRP. We believe in the potential of XRP and its ability to revolutionize the way we move money across borders.”
The decision by Uphold to support XRP is a significant boost for the digital asset, which has seen its value plummet since the SEC lawsuit. XRP was trading at around $0.60 before the lawsuit was filed, but it has since dropped to around $0.30.
The social media campaign to relist XRP on Uphold gained momentum after the recent ruling by Judge Sarah Netburn, who granted Ripple Labs access to SEC documents related to Bitcoin and Ethereum. The ruling is seen as a positive development for Ripple Labs, as it could help the company prove that XRP is not a security.
The Uphold statement also noted that the company is closely monitoring the legal proceedings and will continue to support XRP as long as it remains a viable digital asset. The company added that it is committed to complying with all regulatory requirements and will take appropriate action if necessary.
The decision by Uphold to support XRP is a positive development for the digital asset, which has been under pressure since the SEC lawsuit. It remains to be seen how the legal battle will play out, but Uphold’s support for XRP is a sign that the digital asset still has a future in the crypto world.
