Former American cyclist Armstrong stepped down from his position as chairman of the charity earlier today following a report from the US Anti-Doping Agency that accused the seven-time Tour de France winner of doping.
Despite the allegations, Holden is adamant that he will continue to stand by Armstrong's charity.
"I lost my dad to cancer and our family motto during his fight was LIVEstrong and to this day I still wear the yellow band. @lancearmstrong," he wrote on Twitter.
In a related matter, Nike withdrew their sponsorship of Armstrong earlier today.