Ripple Payments Now Accessible for Institutional Investors on Uphold

March 29, 2024

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Institutional investors can now access Ripple payment options on Uphold, a prominent digital currency platform. This follows the recent introduction of Ripple payments on Uphold for institutional investors which sparked optimism within the XRP community.

Expanding Ripple Payment Accessibility

The decision by Uphold to integrate Ripple payments marks a significant milestone for the XRP community as it offers institutional investors a new avenue to leverage Ripple’s On-Demand Liquidity (ODL) service. Yassir Mobarak, founder of Dizer Capital, commenting on the development on social media described it as a positive move. He sees it as evidence of the growing adoption and utility of XRP in the financial system.

Uphold first initiated a partnership with Ripple, in October 2023, to bolster Ripple’s crypto liquidity capabilities, and enhance its cross-border payments infrastructure. Pegah Soltani, Ripple’s Head of Payments Product, expressed optimism about the partnership. He maintains that Uphold’s deep liquidity expertise will support Ripple’s mission to offer fast and flexible cross-border payments worldwide.

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Charles Gasparino Sounds Caution

However, amidst the excitement surrounding Uphold’s Ripple payments integration, Fox Business reporter Charles Gasparino has cast a shadow of uncertainty over XRP investors. In a cautionary message shared on social media, Gasparino warns of the potential risks associated with Ripple’s ongoing legal battle with the United States Securities and Exchange Commission (SEC).

He also claims that one of the biggest asset management companies in the world, BlackRock, does not currently have any intentions to introduce a spot XRP exchange-traded fund (ETF).

Gasparino’s stance, however, contradicts the position taken by Attorney Bill Morgan regarding the cryptocurrency XRP which boosted investor confidence. Morgan hinted at the possibility of XRP surpassing its previous all-time high (ATH) of $3.4 within the current year.

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Legal Uncertainties and Ripple’s Market Performance

The legal standoff between Ripple and the SEC is now at a critical phase, with recent rulings further complicating the regulatory landscape for XRP. U.S. District Judge Analisa Torres’ ruling found Ripple’s institutional sales to violate securities laws. This has added a layer of complexity to the legal uncertainties surrounding the cryptocurrency.

Despite these challenges, experts say, Uphold’s decision to integrate Ripple payments is a testament to the acceptability of the platform as a reliable cross-border payment channel.

They insist that at its current price, Ripple (XRP) appears significantly undervalued considering its potential. Despite only experiencing a modest 0.5% change over the past week, its noteworthy 15% increase over the last 30 days showcases a stable market performance that Koala Coin (KLC) seeks to emulate.