Ripple Partner’s Staggering XRP Holdings Revealed, Do They Know Something You Don’t?

2023-10-31 20:00

In a recent development, the crypto holdings of Ripple’s most recent partner, Uphold, have been highlighted as further evidence that the Web3 financial platform is very bullish on the Ripple ecosystem and the utility token XRP, which is used to facilitate transactions on Ripple Payments (formerly known as ODL). 

Uphold’s Largest Crypto Holding

In a post on his X (formerly Twitter) platform, pro-XRP legal expert John Deaton quoted a report that stated that XRP made up Uphold’s largest crypto holding. The platform is said to hold $1.25 billion worth of the token in customer funds. This is more impressive as Uphold’s customers only hold $168 million worth of Bitcoin on the platform.    

Deaton could not hold back his surprise at these figures as it meant that there were almost 10 times more XRP on the platform in comparison to BTC. As to the reason why Uphold may have such a large XRP holding, YouTuber Matt stated that it could be from the platform getting all the businesses from their competitors when they delisted the token. 

Major crypto exchanges, including the second largest crypto exchange by trading volume, Coinbase, delisted the XRP token after the Securities and Exchange Commission (SEC) filed a lawsuit against the company and its executives back in 2020.

While agreeing with Matt’s comment, Deaton also mentioned how XRP contributed to Uphold’s growth, noting that the token represented “62%” of the company’s trading fees for over two years. He further mentioned how Uphold only had five million users when he signed up on the platform, but now, it boasts 30 million users. 

XRP On The Platform Set To Increase

The XRP holdings on the platform are expected to increase with the newly forged partnership between Ripple and Uphold. As part of the partnership, Uphold will provide its infrastructure to be used in furtherance of the Ripple Payments service, which focuses on cross-border transactions. 

Uphold will further provide Ripple with the liquidity needed to process these transactions. To achieve this, Uphold has stated that it won’t use its existing customers’ XRP holdings but will instead use its “expertise” to source XRP on the open market. 

Uphold has, over time, shown to be a firm believer in Ripple’s vision, and many in the XRP community seem to be very supportive of the partnership, with some highlighting how Uphold stuck by the token through “thick and thin.”

At the time of writing, XRP is trading at around $0.57, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) íà Currencies.ru

$ 0.5189 (+0.23%)
Îáúåì 24H $1.191b
Èçìåíåèÿ 24h: 3.43 %, 7d: -0.35 %
Cåãîäíÿ L: $0.5162 - H: $0.5193
Êàïèòàëèçàöèÿ $28.727b Rank 7
Öåíà â ÷àñ íîâîñòè $ 0.6031 (-13.96%)

ripple recent xrp partner holdings ecosystem utility

Èñòî÷íèê: newsbtc.com

ripple recent → Ðåçóëüòàòîâ: 126


Ripple’s Strategic Steps To Make Them A Household Name

Philip Nunn in a recent statement made on Twitter likened XRP cryptocurrency alongside its underlying technology, the Ripple network to Microsoft of today. Therefore, he believes that the action exhibited by the development team of recent, the Ripple Labs, is strategically placing the platform right at the center of everyone’s heart which could, in turn, […] The post Ripple’s Strategic Steps To Make Them A Household Name appeared first on ZyCrypto.

2018-10-5 10:31


75% companies in the Payment Sector want to use digital assets – Ripple Study

Despite the decline in the prices of major crypto assets, adoption has increased and more sectors of the world economy will continue to embrace the use of digital assets in the future. This is confirmed by a recent study conducted by Ripple which showed that 75% of companies in the payment sector intend to use […] The post 75% companies in the Payment Sector want to use digital assets – Ripple Study appeared first on ZyCrypto.

2018-10-4 16:42


Ôîòî:

Top 6 Exchanges to Purchase XRP in 2018

Several cryptocurrencies and digital assets are in great demand during specific times of the year. In the case of Ripple’s XRP, the demand for this asset has picked up as of late. This is despite a recent setback over the past few days, which is only to be expected after a near 110% gain in […] The post Top 6 Exchanges to Purchase XRP in 2018 appeared first on NullTX.

2018-9-27 18:00


Tap Coin-Like App as a Panacea to Problems of Digital Advertisement Discussed at Advertising Week

Blockchain has become the hottest tech term used in recent times. Being primarily set up for the trading of cryptocurrencies such as Bitcoin, Ethereum and Ripple, blockchain technology holds the potential to deliver significant transformations and finally become a means of solving many modern day problems that exist industry-wide.

2018-9-11 22:39


Ripple’s CTO invented a distributed computer system 20 years before blockchain – ask him about it

The mysterious Satoshi Nakamoto is often credited with inventing blockchain – the tech behind the recent cryptocurrency and decentralization boom. But long before Nakamoto published his seminal paper that shaped Bitcoin as we know it, Ripple chief technology officer David Schwartz had already come up a similar concept.

2018-8-16 15:33


Ôîòî:

Big Changes Ahead At Ripple

Ripple have announced two big changes within their staff structure that could well see some of Ripples operations take on a new direction. According to a recent post by Ripple, David Schwartz, the former Chief Cryptographer at Ripple has been appointed the new role of Chief Technology Officer (CTO) and Kahina Van Dyke has been appointed the role of Senior Vice President, Business and Corporate Development.

2018-7-12 08:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?

The bulls have continued to take a beating in the market, and XRP bulls, in particular, were recently in the spotlight as $1. 27 million was liquidated from their long positions. This 6,350% spike in long liquidations is likely due to XRP’s recent price action, highlighting the general sentiment in its ecosystem.

XRP Price To Reach $1.68? Here’s What Will Drive It

Crypto analyst Jonathan Carter has predicted that the XRP price could rise to $1. 68. The analyst, however, noted what needs to happen before the crypto token can attain such heights.   How XRP Price Will Rise To $1.