Uphold Denies Making XRP to $10,000 Prediction

The leading pro-XRP American exchange, Uphold, has set the record straight regarding new claims that its CEO, Simon McLoughlin, purportedly predicted XRP would reach $10,000.

This clarification came via Uphold’s official X account a few hours ago, after prominent XRP community figure Crypto Eri called attention to a report that boldly claimed McLoughlin had projected XRP to reach $10K.

While seeking clarification, Eri conveyed distrust that such speculative claims could supposedly emerge from a reputable exchange like Uphold.

In response, Uphold clarified that the claim of XRP to $10K attributed to its CEO “is categorically false.” Moreover, the exchange emphasized that its CEO neither made such prediction for any asset nor would he make any similar one in the future.

This is categorically false. No such prediction was, or would be made. For any asset.

— Uphold (@UpholdInc) June 6, 2024

Origin of the Claim

Notably, Robert Doyle, commonly known as “Crypto Sensei,” had initially called attention to the hypothesis. Doyle repeatedly promoted the idea that XRP could hypothetically reach $10,000 in various analyses.

In one such presentation, he claimed that Uphold CEO Simon McLoughlin said, “Every country would soon use XRP.” Crypto Sensei then leveraged McLoughlin’s purported statement to imply an imminent $10,000 price point for XRP. However, throughout his video, he failed to provide a reference.

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Notably, The Crypto Basic could only verify McLoughlin’s statement about the Ripple and Uphold partnership. Uphold serves as Ripple’s payout partner for treasury payments between multinational companies, explicitly servicing Ripple’s U.S., U.K., and European clients.

In this context, the Uphold CEO expressed excitement about the opportunity to witness the real utility of cryptocurrencies in action. Moreover, McLoughlin emphasized that the exchange is more interested in crypto’s utility than the speculative side.

After Doyle’s assertions, crypto journalist Scott Matherson further escalated the prediction by writing an article that also erroneously suggested McLoughlin had predicted a $10,000 target for XRP.

More Action Demanded from Uphold

Following Uphold’s refutation of these claims, Crypto Eri has called on the exchange to take further measures, including advocating for the removal of such misleading content from public platforms, especially since additional YouTubers have replicated the false narrative.