Brad Garlinghouse, CEO of Ripple, has hinted that a potential IPO could be on the cards, though it is not a top priority. Despite Garlinghouse’s cautious tone, market watchers suggest that an IPO could be announced by the end of the year. If Ripple were to go public, some analysts believe that the XRP price could surge as high as $10.00. Currently, XRP has been relatively stable, despite a notable rise earlier this year. However, newer tokens like Remittix could pose a challenge, potentially drawing investor attention away from XRP.
SEC Settlement Provides a Boost to XRP Price
Ripple Labs recently reached a resolution with the SEC after a protracted four-year legal battle. While the settlement was not a complete victory for Ripple, it set a crucial precedent for the cryptocurrency sector, establishing some clarity on regulatory expectations. Following the news, XRP’s price jumped by 11%, a response that was somewhat muted given that the outcome was largely anticipated by the market. Despite this positive development, XRP remains 35% below its all-time high (ATH) reached in January 2018.
IPO Could Propel XRP Beyond Its ATH
If Ripple proceeds with an IPO, it could significantly impact the XRP price trajectory. Ripple’s use case as a cross-border payment solution remains strong, and a successful IPO could serve as a major catalyst for a price rally. However, Garlinghouse has refrained from offering a clear timeline for a potential IPO, leaving investors in limbo.
According to Coincodex’s projections, XRP’s price is expected to remain relatively flat until the next Bitcoin halving cycle in 2029, with a potential bullish spike anticipated at that time. Until then, XRP faces stiff competition from emerging tokens like Remittix, which may attract investors seeking higher returns.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: What XRP Needs to Flip Ethereum: A 113% Surge and Record Wallet Growth
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