A lawyer supporting Ripple pointed out that JPMorgan Chase, Binance and Robinhood are potential buyers of XRP heavyweight Uphold
Cryptocurrency lawyer John E. Deaton just publicly speculated that Uphold, the platform most associated with XRP support, could be acquired by a major player, fueling the XRP debate.
He has a long list of potential buyers, including Coinbase, Kraken, Binance, Gemini, Robinhood, Ripple, and even some large companies from the traditional financial world such as JPMorgan Chase, Goldman Sachs, Fidelity, Citi, and PayPal.
Uphold is in a very special situation. According to the latest transparency data, XRP accounts for a staggering $4.54 billion of the platform's $6.61 billion in total reserves, approximately 69% of its total holdings. XRP is central to Uphold, not just a small part of it.
The platform has processed over 26 million XRP transactions, accounting for 26% of total transaction volume, and is growing strongly. Just this week, Uphold announced support for USDC via the XRP Ledger.
Therefore, the platform does more than just hold tokens; it is XRP-centric. With a reserve rate of 100.6%, it employs a fully supported model that can support large-scale XRPL activity without the need to build a new trading platform.
Why not?
But there is one big problem. Uphold's CEO, Simon McLoughlin, is a staunch fan of XRP and the XRPFi ecosystem.
He is more than just a supporter, he is a believer. This personal belief may make any acquisition difficult unless the buyer is willing to pay a price far above market value. McLoughlin will either stick to his bottom line or push the asking price to exorbitant levels.
Deaton's prediction may be a bit of an exaggeration, but considering all the data, positioning, and growing institutional interest in XRP infrastructure, it's definitely something to watch.
Also, don't forget, Ripple has a history of such acquisitions, holding a small stake in Bitstamp, which later merged with Robinhood.
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