The post Uphold Bets Big on XRP: $1.28B Investment Signals Bullish Outlook appeared first on Coinpedia Fintech News The crypto world is a fascinating place indeed and Uphold’s partnership with Ripple is a significant milestone. The decision to introduce Ripple Payments (ODL) Serv...
The post Uphold Bets Big on XRP: $1.28B Investment Signals Bullish Outlook appeared first on Coinpedia Fintech News
The crypto world is a fascinating place indeed and Uphold’s partnership with Ripple is a significant milestone.
The decision to introduce Ripple Payments (ODL) Services in the United States highlights Uphold’s forward-thinking approach, aimed at improving the broader financial landscape. This bold move shows Uphold’s strong commitment to nurturing innovation and supporting technologies that could change traditional finance.
Strong Backing for XRP
Despite regulatory challenges and other US-based exchanges delisting XRP, Uphold’s support for XRP remains strong. It’s not just talk – Uphold holds a remarkable $1.28 billion worth of XRP, making up 62.21% of its total crypto assets. Uphold’s transparency portal emphasizes their dedication to XRP and its future.
Dominating on Uphold’s Platform
What’s fascinating is that even when you consider major cryptocurrencies like Bitcoin, Ethereum, Stellar Lumens, Cardano, and Shiba Inu together, they make up less than 10% of Uphold’s cryptocurrency holdings. For instance, Ethereum accounts for only 3.84% of Uphold’s crypto assets, valued at $78,482,133 in ETH. In contrast, XLM, a competitor to XRP, makes up less than 3%, totaling $52,595,396 in tokens. This huge difference underscores Uphold’s massive 2,400% more XRP holdings compared to XLM. Cardano and Shiba Inu together make up less than 2% of Uphold’s reserves.
This highlights the strong presence of XRP on Uphold’s platform, even drawing praise from notable figures like John Deaton, the Pro XRP Lawyer, who believes XRP could outperform BTC – could this be the beginning of that journey?
Read More: Did Uphold’s Tweets on XRP Reaching $1000 Hint at Future Partnership? Communities in Split
Ethics Come First
Following FTX’s example, Uphold is committed to ethical conduct. They promise to source XRP from the open market, without using customer funds for Ripple Payments, which shows their commitment to transparency and customer-focused operations
Uphold is setting a high standard for the industry, ensuring customers’ interests are protected while supporting the growth of the XRP ecosystem.
The Game Changer We Needed
Despite the challenges facing XRP, there’s excitement about its potential surge to $1,000. The crypto market is always changing, and Uphold’s connection with XRP has sparked curiosity about what the future holds. It’s an exciting time for XRP enthusiasts!