Ripple Going Public – probability that the crypto firm will go public is high
Speculations that XRP could go public have been hovering in the crypto space for some time now. Investors remain alert about the resulting developments and upgrades.
The matter took a different move recently with the new announcement from the Ripple owner. XRP CEO confirmed that the firm is likely to go public due to the SEC regulations. Keep in mind that SEC has been monitoring crypto activities to prevent cases of client manipulation.
It is undeniable that the CEO’s remarks are what the bulls were waiting for as XRP has had a 3.46% increase since the past day. When writing this, Ripple is trading at $1.0. You can expect the price to boom if the firm manages to go public.
Ripple CEO Words
The recent announcement by the XRP CEO has strengthened the speculations that Ripple will publicize its services soon. On Wednesday, the executive stated while at the Consensus Conference. That was after a question of whether the firm would go public and when.
XRP chief affirmed, declaring that the probability that the crypto firm will go public is high. However, he added that any steps to achieve the goal would follow after the company resolves its legal problems with SEC.
The increased speculations on XRP going public have strengthened bullish attitude, driving the asset high by 3.46% in the past day. With that, Ripple now trades at $1.00. Last month, the company’s largest shareholder SBI Group declared the possibility of the firm going public after the current litigation.
SBI Group CEO Yoshitaka Kitao said that the coin’s price went ballistic, rising by over 15%. For now, Ripple ranks 6th with a market cap exceeding $46 billion, surpassing Dogecoin. Any speculation on the company’s publicizing its crypto deals will trigger a bullish attitude.
The Lawsuit
The legal issues surrounding XRP come after SEC filed a litigation against the firm, stating that Ripple was an unregistered security provider worth $1.3 billion.
As a response, Ripple suggested that XRP stands as a commodity, standing outside SEC purview.
Do you think that Ripple will gain an upward momentum taking advantage of the current SEC lawsuit? What about the impact of going public? Comment below.
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