While the ongoing bull run turned out to be extremely beneficial for a few coins, XRP garnered nothing but immense loss. As Bitcoin continues to soar past $31K, XRP is being sidelined by the exchanges in the crypto industry. The SEC lawsuit staggered the altcoin’s growth and pushed it down to a new low. Ripple revealed that it has been addressing the ongoing $1.3 billion lawsuit for selling unregistered securities. Crypto exchanges seemed to be taking precautions even before the SEC’s judgment as they temporarily suspended services for the altcoin. However, it seems as though somebody is on XRP’s side as a prominent exchange affirmed that it would prolong its support for XRP throughout the lawsuit.
XRP Trading To Continue In Uphold Until SEC Judgement
In a recent statement, cryptocurrency exchange, Uphold revealed that it would continue listing XRP despite SEC’s allegations against Ripple. The exchange pointed out that XRP was still a cryptocurrency and would remain the same until the SEC’s claim of the altcoin being security is legally affirmed. Apart from this, if in case the trading volume of the altcoin staggers to an unamendable state, then the exchange would say sayonara to the altcoin.
Suggesting that Uphold is awaiting the pre-trial hearing takes place on February 22 before the District Court for the Southern District of New York, the exchange said,
“Today, the SEC’s complaint is an allegation and due process needs to take place through the U.S. courts before any precedential judgment enters the body of U.S. law.”
However, an array of exchanges, including Coinbase, OKCoin, Bittrex, and several others went on to halt support for the asset. Addressing the same, Uphold urged other exchanges to “adopt a similar stance rather than rushing to judgment ahead of the court’s decision.”
XRP during the time of writing seemed to be recovering after experiencing carnage. The asset was trading for $0.2400 with a 7.45% rise over the last 24-hours. While the asset managed to maintain its place as the third-largest cryptocurrency with a market cap of $10.65 billion, Litecoin [LTC] wasn’t far behind as its market cap was at $10.24 billion.