Ripple’s IPO Unlikely
The possibility of Ripple filing for an initial public offering (IPO) has been a topic of discussion in the cryptocurrency community. Speculations about the move happening at the end of September during a company event in New York City were circulating, but this did not materialize.
Yassin Mobarak, founder of Dizer Capital, provided several reasons why Ripple is unlikely to go public this year or early 2024. He shared insider information from CEO Brad Garlinghouse that an IPO could be on the horizon once the US SEC approves the company’s S-1 filing. However, due to the ongoing lawsuit with the regulator, this initiative is currently impossible. Mobarak also mentioned that Garlinghouse considered the option of filing for an IPO outside the US but did not provide a specific timeline for that.
“I suggest we temper our expectations with regards to Ripple IPO,” he concluded.
XRP’s Recent Surge
Ripple’s native token, XRP, recently experienced a price rally, reaching a three-month peak of over $0.73 and surpassing BNB as the fourth-largest cryptocurrency by market capitalization. The surge can be attributed to positive developments surrounding the Ripple vs. US SEC lawsuit, the overall bullish trend in the digital asset sector, and various deals signed by the blockchain enterprise.
Hot Take: Ripple’s Future Outlook
Ripple’s anticipated IPO appears unlikely to occur this year or early 2024 due to ongoing litigation with the SEC and the need for regulatory approval of their S-1 filing. CEO Brad Garlinghouse has supposedly considered an IPO outside the US, but no specific timeline has been provided for such a move. Meanwhile, Ripple’s native token, XRP, has experienced a price rally recently reaching over $0.73 and becoming the fourth-largest crypto by market cap, influenced by positive lawsuit developments and bullish trend in the crypto market.
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