This is why after Uphold’s announcement, the XRP community was in turmoil
The community is perplexed by Uphold’s revelation that the XRP cryptocurrency is listed and accessible for trading on the platform.
🎥 How to buy $XRP on Uphold 💚https://t.co/LSVI9oYJ0a
— Uphold (@UpholdInc) March 1, 2023
It was assumed that the exchange allowed trade for the contentious cryptocurrency because the hashtag # relistXRP followed it.
Prominent community member @XRP Productions gained some notoriety after he tweeted that Uphold has relisted XRP and emphasized the importance of the action. However, they claimed that XRP was already listed and available for trading, which perplexed the community members.
BREAKING NEWS! 😮@UpholdInc officially reports that they have RELISTED #XRP!
💥💥💥 HUGE!!!!! 💥💥💥 pic.twitter.com/aQDkVWmD26
— XRPP 🚀💰🤑🫰🌕 (@XRP_Productions) March 1, 2023
This sparked various responses on Twitter, with one community member jokingly stating, “Ain’t nobody got time for research!” One user indicated they were “only here for the comments” with a popcorn emoji.
Other participants also made light of the original poster’s apparent “hunger for engagement.”
On the other hand, several community residents reacted more seriously and dubbed the statement “stupid.” The SEC has filed a lawsuit against XRP, claiming that it is a security and that Ripple’s asset sales were unlawful. Uphold’s statement comes at this time.
Once the lawsuit was initially revealed in December 2020, the price of XRP fell precipitously as big exchanges like Coinbase abandoned the contentious cryptocurrency. Nonetheless, Uphold made the decision to stand behind XRP, differentiating itself from other US cryptocurrency exchanges that took action to restrict or eliminate XRP trading.
The CEO of Uphold, JP Thieriot, said that the U.S. Securities and Exchange Commission’s actions might severely harm the cryptocurrency industry as a whole. The choice by Uphold to keep XRP listed on its platform was interpreted at that point as a vote of confidence in the future of the asset.
The motivation behind the most recent announcement, though, remains unclear. It is unclear how the SEC’s action will influence XRP going forward and whether Uphold’s ruling will have a long-term effect on the asset’s value.
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