Uphold's announcement that the XRP cryptocurrency is listed and available for trading on the platform has left the community confused.
The fact that it was accompanied by the #relistXRP hashtag led to some speculation about whether or not the exchange enabled trading for the controversial cryptocurrency.
Popular community member @XRP_Productions went semi-viral with a tweet claiming that Uphold relisted XRP, stressing the significance of such a move.
However, the community members were bewildered as they claimed that XRP was already listed and available for trading.
This led to various reactions on Twitter, with one community member sarcastically remarking that "ain't nobody got time for research!" One person stated they were "just here for the comments" with a popcorn emoji. Some members also joked that the original poster was "hungry for engagement."
Alex DovbnyaUphold's announcement comes at a time when XRP is facing a lawsuit from the SEC, alleging that XRP is, in fact, security and that Ripple's sales of the asset were illegal.
The price of XRP dropped sharply in December 2020 after the lawsuit was originally announced in December 2020, with major exchanges such as Coinbase ditching the controversial cryptocurrency.
However, Uphold decided to stand by XRP, setting itself apart from other US crypto exchanges that moved to limit or remove XRP trading.
JP Thieriot, Uphold's CEO, opined that the actions of the U.S. Securities and Exchange Commission could have dire consequences for the crypto market as a whole.
Uphold's decision to keep XRP listed on its platform was then perceived as a show of confidence in the asset's future. However, it is not clear what was the purpose behind the most recent announcement.
It remains to be seen how the SEC's lawsuit will affect XRP's future and whether Uphold's decision will impact the asset's value in the long term.
Arman Shirinyan
Yuri Molchan
Dan Burgin
Vladislav Sopov