Uphold, a major cryptocurrency trading platform, has reaffirmed its support for $XRP, the native token of the XRP Ledger.
Despite being delisted from several exchanges after the U.S. Securities and Exchange Commission (SEC) sued Ripple Labs over the sale of XRP, Uphold has maintained its support for the token.
Reacting to a trend on Twitter where users called for trading platforms to relist XRP, Uphold pointed out that XRP is listed on its platform and has never been delisted.
The platform has committed to maintaining XRP listed until the SEC’s lawsuit against Ripple Labs is resolved and legally determines that the token is a security.
Uphold has also called on other cryptocurrency exchanges to adopt a similar stance and wait for the court’s decision rather than rush to judgment.
Uphold believes that the SEC’s goal is to protect consumers and that a judgment rendering XRP worthless would inflict billions of dollars of losses on retail investors, which would not align with the regulator’s goal.
The platform has launched a new crypto-linked debit card for customers in the United Kingdom, offering reward rates of up to 4% in XRP. The cryptocurrency community expects the price of XRP to experience a slight upward movement during the month of March as regulatory clarity is awaited.
Uphold’s commitment to supporting XRP has been welcomed by many in the cryptocurrency community who believe that the SEC’s lawsuit against Ripple Labs is without merit.
Uphold’s decision to stand by XRP until the court’s decision is also seen as a vote of confidence in the token’s future.