• Speculations of Ripple Labs considering an IPO are doing the rounds on social media.
• Ripple CEO Brad Garlinghouse had previously stated that the San Francisco-based firm might launch an IPO once the XRP lawsuit ended.
• XRP price is also forming a bullish triangle pattern with a 110.5% price target.
Ripple Might Launch IPO After XRP Suit Settlement
Speculations of Ripple Labs considering an initial public offering (IPO) are doing the rounds on social media, as CEO Brad Garlinghouse had previously stated that the San Francisco-based firm might launch an IPO once the XRP lawsuit ended. Wall Street veteran Linda P. Jones noted that Ripple’s “current valuation was very low,” considering the firm has 21 billion XRP tokens in escrow, worth nearly $11 billion at current prices. Additionally, pro-XRP lawyer John E. Deaton speculated that even if Ripple loses the lawsuit it can launch its IPO and reach a 20x spike from current levels in its valuation.
Reasons Behind Possibility Of Ripple Labs’ IPO
A key reason behind speculations of a possible Ripple Labs’ IPO is a ‘private‘ roadshow meeting in April 2023 attended by institutional investment firms from Wall Street. Fox Business journalist Eleanor Terrett reported this news on her Twitter page which further fueled speculation about an upcoming listing of shares by Ripple’s parent company, SBI Holdings Inc., on Nasdaq or Tokyo Stock Exchange (TSE). Furthermore, Linda P Jones noted that Ripple’s cash reserves would help them to launch their IPO in any market conditions and provide stability to investors who have shown interest in buying shares after listing date.
XRP Price Moving Inside Bullish Pattern
Positive sentiment around potential listing has also been reflected in XRP’s price trend as it is currently forming a bullish pattern called ‘Ascending Triangle’. A horizontal trendline connects swing highs while an ascending trendline connects swing lows to form this bullish pattern with volume helping determine strength of breakout when it occurs and taking price towards 110% target level as calculated by technical analysts monitoring cryptocurrency markets for potential trading opportunities.
Conclusion:
As seen from above evidence gathered from various sources like Wall Street veteran and crypto influencers, there is high possibility of Ripple launching its own Initial Public Offering (IPO) soon after court arrives at judgment in ongoing XRP Lawsuit against US Securities & Exchange Commission (SEC). Positive sentiment around this news has already been reflected in rising prices for token which could go much higher if rumors turn out true and company gets valued similar to Coinbase during its own listing process ($86 Billion).
References:
CoinChapter – https://coinchapter.com/news/ripple-might-launch-ipo-after-xrp-suit-settlement/
