Many of the investors and traders of cryptocurrency have incurred numerous reasons for celebration during the month of December 2020 and this new year. However, the XRP token of the Ripple firm is still trying to grapple with the lawsuit filed by the SEC accusing Ripple of indulging in illegal sales of assets.
From the time the lawsuit was filed and made public 2 weeks back, the XRP price has sharply declined. This happened when this crypto asset seemed to have recovered from its worst-ever position for the past 2 years.
XRP Gets Surprise Support
The several US registered crypto exchanges like Binance and Coinbase have already delisted or barred the trading of the tokens. On the other hand, this crypto asset has received surprising support from Uphold who is seemingly bucking the delisting trend.
Uphold is an exchange site that has conducted cumulative transaction volume that totals almost $8 billion. Recently, Uphold has made it quite clear that they will not be taking any debarring action against the transaction of XRP until they see a conclusive decision for it. The firm has also said that by lending support and allowing the transactions, they are also trying to encourage other exchanges to reflect on their decision to prohibit XRP.
The company has released a statement today where they extended their support to XRP till a final legal judgment regarding their future is passed. They have also criticized the SEC for alleged illegal actions by Ripple that might have an adverse effect on crypto investors.
Other than Uphold, a few other trading platforms in the US are waiting to see the final results of the lawsuit before taking any definitive action against the token.
