Uphold Relaunches US Debit Card with 10% XRP Rewards
Uphold has relaunched its US debit card, this time on the Mastercard network, offering up to 10% back in XRP rewards to boost crypto adoption. Available nationwide with no annual or monthly fees, the card supports Apple Pay and Google Pay and lets users spend over 300 digital assets in-store or online. By default, cardholders earn 1.5% back in BTC, 2% in ETH and 3.5% in XRP on purchases. Rewards jump to 10% on eligible spending when users stake XRP via Uphold’s Earn program during an initial 90-day promotion. The service returns after a March 2023 pause amid regulatory uncertainty, signaling renewed confidence in crypto payments. Competing products such as Gemini’s 4% SOL credit card underscore intensifying competition. XRP trades near $2.45 with support at $2.26 and resistance at $2.55. Uphold’s strategy to drive adoption through high-yield rewards positions it against rivals like Coinbase and BlockFi.
Bullish
The relaunch of Uphold’s debit card with up to 10% XRP rewards is likely bullish for XRP. In the short term, high yield incentives and staking requirements could drive increased buy-side pressure as traders accumulate XRP to qualify for maximum rewards. Over the long term, the program supports greater utility and adoption of XRP by integrating crypto spending into everyday transactions, reinforcing demand. Competition from Gemini’s SOL card may moderate gains, but the superior reward rates and broad network support strengthen Uphold’s market position and underpin sustained bullish sentiment for XRP.