With the ongoing SEC vs Ripple lawsuit, many-many exchanges started to suspend the trading of XRP until there is some legal clarity on the status of XRP. It was like dominos falling after the first exchange suspended XRP and there seemed to be no hope for an exchange to back Ripple, XRP, or the holders – until Uphold showed some massive backbone. Uphold announced that they would not be closing any trading options for XRP. We covered what the CEO of Uphold had to say regarding this last week, so be sure to check that our here.
As of today Uphold released a statement on their website regarding this ongoing issue. This statement directly disused the ongoing issues which further highlighted Uphold as being the hero for XRP holders. Here are Upholds most recent statements about XRP:
I am not sure where U.S. XRP holders would be without the unprecedented support of Uphold during these precarious times. A notable FinTech lawyer Tweeted this in regards to Upholds bold statement:
There are also notable crypto researchers and commentators public reaching out and giving Uphold a pat on the back for their recent actions:
Although the true gravity of news seems to have gone under the radar, it has not gone unnoticed by the XRPDaily. This is such a bold move because Uphold will likely take the lion’s share of the U.S. XRP holders and traders under their wings. XRP holders are a loyal bunch and this could have a massive upside for Uphold. If/when the SEC lawsuit settles and there is a positive outcome XRP will blast off on a parabolic bull run never seen before. You know who will be there ready and battle-worn to enjoy it with you? Uphold.
Meanwhile other exchanges who did not take such a logical response have lost all their XRP holders and will likely not get them back. Good riddance.
The Treasury OCC News
The news of the OCC releasing massive institutional frame work and the green light for banks to work with privatized blockchain for the U.S. finical system is huge. I will cover this in detail in tomorrows article. The point of me mentioning it in this article is that many XRP are holders are wondering what this does for the SEC vs Ripple lawsuit. The short answer is nothing at all. Ripple will still have to duke it out with the SEC, but when they settle things this OCC news pave the road well for Ripple long term goals to be accelerated.