Uphold Study Shows Majority of XRP Investors are Long-Term Holders Despite Setbacks
It is no secret that over the past several years, popularity of cryptocurrencies has grown significantly.
Many investors continue to hang onto their digital assets for the long-term despite the market's turbulence in the hopes of making a potentially profitable investment.
According to a recent study by Uphold, a cryptocurrency exchange with headquarters in New York, the majority of XRP investors feel this way.
The report shows a sizable portion of XRP investors "holders" is in it for the long run. This is good news for the cryptocurrency since it demonstrates that investors believe in its future growth potential.
The XRP community has expanded significantly over the past several years, and this most recent finding is another evidence of its tenacity and toughness.
Passionate XRP Community Responds
Unsurprisingly, the XRP community was quick to respond to Uphold's findings. Several investors in the crypto revealed how long they have owned the sixth-largest cryptocurrency in the market.
Some enthusiasts claim to have owned the coin for over two years. For example, Sandro Lombardi claims to have owned the coin since learning about Ripple and XRP in March 2020.
Another XRP hodler took it a step further by saying that he has owned the coin for over 7 years.
This means that he or she has at least received a decent return on the digital currency. XRP went through a fantastic period in terms of returns, especially in 2017.
Despite Setbacks, Confidence in XRP Remains High
The XRP project has had several setbacks, yet belief in the cryptocurrency is still high. The continuing legal dispute between Ripple and the US Securities and Exchange Commission is one of the main obstacles confronting XRP (SEC).
The dispute in the case revolves on whether XRP is considered a security under US financial law. If the judge sides with the SEC, selling XRP by Ripple may constitute an unauthorized issue of securities.
A significant punishment for the business and the withdrawal of XRP from all trading platforms might follow from this.
The XRP community is still optimistic that the court will decide in their favor, nevertheless.
The judge's decision in the case, which could have significant repercussions for the rest of the blockchain business, is anticipated in the first half of 2023.
Exciting Times Ahead for XRP
Despite the difficulties XRP has encountered, the project has exciting days ahead of it. The majority of XRP investors keep the cryptocurrency for a long time, which bodes well for its future prospects.
The XRP community is still optimistic that the Ripple-SEC dispute will be resolved favorably as the court gets ready to issue a decision.
In conclusion, Uphold's study has provided an intriguing window into XRP investors' thinking.
The majority of investors are still upbeat about the cryptocurrency's future prospects despite the numerous setbacks it has experienced.
It will be fascinating to watch how XRP performs over the long term as the cryptocurrency industry develops.