{"id":558403,"date":"2023-10-31T17:00:36","date_gmt":"2023-10-31T17:00:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=558403"},"modified":"2024-06-11T08:14:38","modified_gmt":"2024-06-11T08:14:38","slug":"ripple-partner-xrp-holdings","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple-partner-xrp-holdings\/","title":{"rendered":"Ripple Partner’s Staggering XRP Holdings Revealed, Do They Know Something You Don’t?"},"content":{"rendered":"

In a recent development, the crypto holdings of <\/span>Ripple\u2019s most recent partner<\/span><\/a>, Uphold, have been highlighted as further evidence that the Web3 financial platform is very bullish on the Ripple ecosystem and the <\/span>utility token XRP<\/span><\/a>, which is used to facilitate transactions on <\/span>Ripple Payments<\/span><\/a> (formerly known as ODL).\u00a0<\/span><\/p>\n

Uphold\u2019s Largest Crypto Holding<\/h2>\n

In a <\/span>post<\/span><\/a> on his X (formerly Twitter) platform, <\/span>pro-XRP legal expert John Deaton<\/span><\/a> quoted a report that stated that XRP made up <\/span>Uphold\u2019s<\/span><\/a> 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\u2019s customers only hold $168 million worth of Bitcoin on the platform.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n

Related Reading: Why This 70-Year-Old Billionaire Wants To Own Bitcoin<\/a><\/div>\n

Deaton<\/span><\/a> 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 <\/span>stated<\/span><\/a> that it could be from the platform getting all the businesses from their competitors when they delisted the token.\u00a0<\/span><\/p>\n

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

While agreeing with Matt\u2019s comment, Deaton also mentioned how XRP contributed to Uphold\u2019s growth, <\/span>noting<\/span><\/a> that the token represented \u201c62%\u201d of the company\u2019s 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.\u00a0<\/span><\/p>\n

XRP On The Platform Set To Increase<\/h2>\n

The XRP holdings on the platform are expected to increase with the newly forged partnership between <\/span>Ripple and Uphold<\/span><\/a>. 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.\u00a0<\/span><\/p>\n

Related Reading: Time To Exit Bitcoin? Crypto Analyst Predicts 75% Breakdown To $8,000<\/a><\/div>\n

Uphold will further provide Ripple with the liquidity needed to process these transactions. To achieve this, Uphold has <\/span>stated<\/span><\/a> that it won\u2019t use its existing customers\u2019 XRP holdings but will instead use its \u201cexpertise\u201d to source <\/span>XRP<\/span> on the open market.\u00a0<\/span><\/p>\n

Uphold has, over time, shown to be a <\/span>firm believer in Ripple\u2019s vision<\/span><\/a>, and many in the XRP community seem to be very supportive of the partnership, with some <\/span>highlighting<\/span><\/a> how Uphold stuck by the token through \u201cthick and thin.\u201d<\/span><\/p>\n

At the time of writing, XRP is trading at around $0.57, up over 2% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n

\"XRP<\/span><\/p>\n

Token price surges pasts $0.6 | Source: XRPUSD on Tradingview.com<\/a>\u00a0<\/span><\/pre>\n
Featured image from Shutterstock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
In a recent development, the crypto holdings of Ripple\u2019s 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).\u00a0 Uphold\u2019s 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\u2019s 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\u2019s customers only hold $168 million worth of Bitcoin on the platform.\u00a0\u00a0\u00a0\u00a0 Related Reading: Why This 70-Year-Old Billionaire Wants To Own Bitcoin 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.\u00a0 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\u2019s comment, Deaton also mentioned how XRP contributed to Uphold\u2019s growth, noting that the token represented \u201c62%\u201d of the company\u2019s 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.\u00a0 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.\u00a0 Related Reading: Time To Exit Bitcoin? Crypto Analyst Predicts 75% Breakdown To $8,000 Uphold will further provide Ripple with the liquidity needed to process these transactions. To achieve this, Uphold has stated that it won\u2019t use its existing customers\u2019 XRP holdings but will instead use its \u201cexpertise\u201d to source XRP on the open market.\u00a0 Uphold has, over time, shown to be a firm believer in Ripple\u2019s 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 \u201cthick and thin.\u201d 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. Token price surges pasts $0.6 | Source: XRPUSD on Tradingview.com\u00a0 Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":558406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,83363],"tags":[6664,14690,3680,17209,89754,6992,89755,4531,83637,10972,78763],"class_list":["post-558403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-xrp","tag-crypto","tag-crypto-news","tag-ripple","tag-ripple-news","tag-ripple-partner","tag-uphold","tag-uphold-news","tag-xrp","tag-xrp-news","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nRipple Partner's Staggering XRP Holdings Revealed, Do They Know Something You Don't?<\/title>\n<meta name=\"description\" content=\"In a recent development, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple Partner’s Staggering XRP Holdings Revealed, Do They Know Something You Don’t?","url":"http:\/\/uniquehot.com\/news\/ripple-partner-xrp-holdings\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ripple-partner-xrp-holdings\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small-1.jpeg?fit=320%2C213"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto news","ripple","ripple news","ripple partner","uphold","uphold news","xrp","xrp news","xrpusd","xrpusdt"],"dateCreated":"2023-10-31T17:00:36Z","datePublished":"2023-10-31T17:00:36Z","dateModified":"2024-06-11T08:14:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple Partner’s Staggering XRP Holdings Revealed, Do They Know Something You Don’t?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple-partner-xrp-holdings\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple-partner-xrp-holdings\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_1306247059-Small-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_1306247059-Small-1.jpeg?fit=320%2C213\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto news\",\"ripple\",\"ripple news\",\"ripple partner\",\"uphold\",\"uphold news\",\"xrp\",\"xrp news\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2023-10-31T17:00:36Z\",\"datePublished\":\"2023-10-31T17:00:36Z\",\"dateModified\":\"2024-06-11T08:14:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small-1.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/558403"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=558403"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/558403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/558406"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=558403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=558403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=558403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}