- Uphold is back online after a temporary outage due to an unexpected surge of XRP trading.
- XRP has been declared not a security and the price has skyrocketed to 70% overnight.
- At the time that Ripple got its ruling, the only US-based exchange that traded XRP was Uphold.
Crypto trading platform Uphold has successfully restored its services after experiencing a temporary outage caused by an unexpected surge in trading activity. The platform went offline due to an overwhelming 50x spike in volume, triggered by the recent ruling of Judge Analisa Torres, who declared XRP as not being a security.
In a tweet, Uphold expressed its satisfaction in being the sole platform that stood by XRP throughout the ups and downs of the past few years. The company acknowledged its law firm, Paul Hastings, for providing the necessary confidence to support XRP despite other U.S. venues delisting the cryptocurrency at the first opportunity.
Although Uphold admitted it was unacceptable to go offline, it highlighted its strong track record in 2021. Uphold’s uptime during periods of high activity outperformed major exchanges like Coinbase and Binance, emphasizing its commitment to providing reliable services to its users.
The surge in trading volume experienced by Uphold was unprecedented and overwhelmed the 10x scaling buffers that were implemented after the boom in 2021. However, the platform has since resolved the issue and is actively working to handle elevated loads more effectively.
Uphold sees the recent events as confirmation that the maximum regulatory fear, uncertainty, and doubt (FUD) in the United States are now behind them. The platform is ready to celebrate this milestone and move forward with renewed confidence in the future of XRP trading.
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