- Ripple’s anticipated IPO appears unlikely to occur this year or early 2024, primarily due to ongoing litigation with the SEC and the need for regulatory approval of their S-1 filing.
- Ripple CEO Brad Garlinghouse has supposedly considered an IPO outside the US, but no specific timeline has been provided for such a move, with suggestions to temper expectations about a Ripple IPO.
- 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 the bullish trend in the crypto market.
Ripple’s IPO Seems Unlikely
The cryptocurrency community was recently intrigued by speculations that Ripple might soon file for an initial public offering (IPO). Some people suggested the move would happen at the end of September during the company’s party in New York City. However, this was not the case.
Yassin Mobarak – founder of Dizer Capital – recently gave several reasons why Ripple would not go public this year or early 2024. He said he has inside information from CEO Brad Garlignhouse that such an initiative could be in the cards once the US SEC approves the company’s S-1 filing (a required registration that organizations should do before being listed on a national exchange).
Due to the ongoing lawsuit with the regulator, though, such an initiative is currently impossible. Mobarak further claimed that Garlinghouse considered the option of filing for an IPO outside the States, “but no time frame was given for that.”
“I suggest we temper our expectations with regards to Ripple IPO,” he concluded.
XRP’s Recent Push
Speaking of Ripple, it is worth mentioning the latest price rally of its native token – XRP. Yesterday (November 6), it hit a three-month peak of over $0.73 (per CoinGecko’s data) and surpassed BNB as the fourth biggest cryptocurrency by market capitalization.
Some of the factors that might have played a role in that surge are the positive developments surrounding the Ripple vs. the US SEC lawsuit, the overall green wave in the digital asset sector, and the numerous deals which the blockchain enterprise inked.
Those curious to find out whether the uptrend could continue in the remaining months of 2023 could take a look at our video below:
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