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Following the securities lawsuit filed against Ripple, XRP suffered a significant fall. One reason for this decline was the delisting of XRP by cryptocurrency exchanges due to regulatory concerns. Despite long-awaited Coinbase listing, this lawsuit led XRP to be excluded from Coinbase in a very short time. Currently, Uphold, the only crypto exchange within the US where XRP is still listed, made a crucial statement regarding the issue.
What Will Happen to the XRP Case?
Uphold is known as one of the key cryptocurrency exchanges subject to regulations in the US. Uphold’s CRO, Nancy Beaton, made a critical statement at an event she attended recently. Beaton expressed that the exchange is not siding with anyone in the Ripple vs SEC case, but suggested they maintain the stance that XRP is innocent. While many major crypto exchanges like Coinbase, Kraken, and Binance US swiftly delisted XRP, Uphold did not adopt this approach and kept XRP listed.
The senior executive of Uphold stated that the exchange sets serious standards to list a cryptocurrency, and XRP has met all of them. He said that XRP continues to meet these, which include security, audits, the reliability of the founders, token distribution, and other important factors.
XRP Price After the XRP Case
Beaton pointed out that XRP meets all these criteria while 70% of other cryptocurrencies requesting listing do not. The executive gave a signal for XRP. Uphold’s executive stated that the company’s lawyer also mentioned there is no precedent for XRP and that it could continue to be listed on exchanges. The Ripple and SEC case is still ongoing, but Uphold emphasized that XRP could stay listed on exchanges even if the result is unfavorable. The scenario that XRP will experience if this lawsuit concludes positively is being speculated by many investors.
Paul Grewal, the legal advisor of Coinbase, stated that Coinbase will not immediately relist XRP, indicating they will remain cautious even if the lawsuit concludes positively. However, this statement made by Uphold, which is based in the US, certainly raises expectations for XRP investors.
