Uphold Stands Firm: XRP Will Not Be Delisted Amid SEC Lawsuit

Uphold Keeps XRP On Its Menu

In a move that might surprise some crypto enthusiasts, Uphold has officially declared that it will not remove XRP from its platform for now. In an announcement reminiscent of hopeful sports commentary, the exchange emphasized that it’s sticking by Ripple’s XRP until the SEC lawsuit sees its day in court.

The SEC Showdown

The statement reads like a suspenseful plot twist — Uphold is holding firm until the allegations from the U.S. Securities and Exchange Commission (SEC) are formally adjudicated. They made it clear that the exchange will continue listing XRP until the court rules in favor of the SEC or until trading volume drops to a non-viable level.

“We trust that other Exchanges will adopt a similar stance rather than rushing to judgment ahead of the Court’s decision.”

Ripple Takes the Heat

The lawsuit against Ripple and its executives has caused quite the ruckus, leading to a dramatic price drop for XRP. From a comfortable $0.57, it plummeted to a stark $0.23. Just imagine trying to defend your prized ice cream cone while an unexpected ice storm hits!

Rinks of Delisting

Exchanges, including well-known names like Bitstamp and Coinbase, have jumped on the delisting bandwagon. Major players such as Binance.US and eToro have also abandoned ship, likely to shield themselves from regulatory ripples. It’s like watching a game of musical chairs, but each time the music stops, another exchange bows out.

Ripple’s Response

On the defense side of the court, Ripple isn’t sitting quietly. The company is rallying support from the community, utilizing petitions and class-action motions as ammunition. They’re determined to stand their ground, almost like a football team rallying for a final touchdown.

What Lies Ahead?

The lawsuit has just kicked off, with a pre-trial virtual hearing set for February 22. As the saga unfolds, only time will tell if Uphold’s gamble will pay off, or if they end up caught in the crosshairs of an angry regulatory agency.

Conclusion

In the wild west of cryptocurrency, Uphold’s firm stance on XRP might just make them the bravest cowboy at the round-up. Keep your eyes peeled as the courtroom drama continues playing out!