Uphold, the New York-based cryptocurrency exchange, has revealed that it never delisted XRP from its platform and is still supporting the embattled cryptocurrency despite the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC).
In a tweet, Uphold stated its unwavering support for the XRP community and its commitment to offering users a wide range of digital assets, including XRP, for trading and investment purposes.
The statement refers to the recent requests for American crypto companies to reintroduce XRP on their platforms. The price of Ripple’s cryptocurrency was significantly impacted in December 2020 due to the prolonged legal dispute between Ripple and the SEC.
According to the SEC, certain executives at Ripple violated American securities regulations by selling XRP without registration. Nevertheless, Ripple argued that XRP is a cryptocurrency not classified as a security.
Afterward, certain cryptocurrency exchanges removed XRP from their listings or suspended their services for digital assets. Nonetheless, XRP has been relisted, and some exchanges, including Newton, have re-enabled services for the cryptocurrency.
Responding to the current scenario on Twitter, John Deaton praised Uphold for their support of XRP. He said the crypto exchange had made a shrewd business move by allowing XRP trading to continue until the outcome of the litigation.
Deaton also claimed that Uphold gained significantly from not delisting XRP between January 2021 and December 2023. He said the proportion of the exchange’s trading fees that came from XRP trading volume increased.
