HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

A Look At What’s In Store For XRP If Ripple Eventually Goes Public After SEC Case

Altcoins 2021/05/07 22:03 by Collins K.O
A Look At What's In Store For XRP If Ripple Eventually Goes Public After SEC Case

Fired up by the soaring success of Coinbase, Ripple Labs Inc, the establishment behind the fifth most valuable cryptocurrency – XRP, has disclosed plans to issue an Initial Public Offering after it is done with its court case.

The embattled altcoin authors which were accused by the US Security Exchange Commission, of amassing over $1.3billion through illegal and undocumented XRP sales, will be looking to officially register its listing on the New York Stock Exchange over the next 12 months.

Ripple’s listing intentions were disclosed by Yoshitaka Kitao, the company’s largest investor who explained that all stakeholders within the board, including the CEO, Brad Garlignhouse, have reached a consensus on the issue and are gearing up for the phase after all the legal setbacks are over.

Is There Any Rippling Gain?

Ripple seeks to outdo Coinbase by setting a strong record. A successful listing would see a drastic value up-shot to XRP and its already vibrant $60 billion market valuation, which currently pegs the digital currency’s price at $1.64.

A Look At What's In Store For XRP If Ripple Eventually Goes Public After SEC CaseXRPUSD Chart By TradingView

Already, experts believe this could spur a wave of public listings in the cryptocurrency ecosystem, except for Binance, whose co-founder, Changpeng Zhao, revealed that there is no such plan in place for the biggest cryptocurrency exchange platform as he believes it is already self-sufficient financially.

At the heart of Ripple – US SEC legal skirmishes is the debate over whether XRP is an asset or a security. If eventually termed security, the company will have to be subjected to SEC laws and could become roped in for an issuance violation at the end of the case. 

Garlinghouse has repeatedly expressed his frustration over the US lack of clarity and definition of cryptocurrency activities in the market. He believes the system is slow, reactionary, and set up to frustrate the innovative progress around crypto.

The lawsuit which is the first of its kind is closely monitored by all stakeholders within the crypto ecosystem seeing that its outcome would set a precedent for future activities of all players going forward.

Rough, Rugged, and Ripple

Despite the company’s legal challenges, XRP’s performance in the market has remained largely unscathed. XRP – though was edged off its fourth position by Dogecoin (DOGE) – continues to grow in value with over a 12% increase in the last 24 hours.

It has recently gone on to appoint an ex-SEC member as one of its board of directors. Nevertheless, there’s no telling that it badly needs an IPO for two reasons: One for the money and two for restoring badly dented public confidence.

0 Like(s)



You should also read...

Altcoins 09/12/19 22:00 by Cole Petersen
Despite Rising Ripple Transaction Volume, Analyst Says XRP Still Incredibly Weak
XRP – the digital token closely associated to FinTech company Ripple – has had a rough couple of years, plummeting from highs of over $3.00 in early-2018 and finding itself caught within a firm do...
Read More
Altcoins 21/05/20 22:30 by Tony Spilotro
PSA: New XRP Scam Is Targeting Scorn Ripple Investors
A new XRP scam involving an email distribution posing as Ripple is making its way across the cryptocurrency community. Unlike most scams that are riddled with spelling errors and offers that seem far ...
Read More
Altcoins 03/07/20 18:00 by Tony Spilotro
The Price Trend of XRP Stunningly Reflects That of Sheep Manure Stock
XRP price has struggled throughout the last two years of the bear market. It has ranked amongst the worst performing altcoins, despite trailing right behind Bitcoin and Ethereum in market cap. Investo...
Read More
Bitcoin 20/04/21 16:34 by Guest Author
Will Bitcoin Break $100,000 With Coinbase Going Public?
The crypto market has been ignited in the past weeks, as Bitcoin and Ether gained over 10% and XRP doubled in value. One reason for the frenzy is the direct listing of Coinbase on Nasdaq on Wednes...
Read More
Altcoins 05/05/21 11:06 by Brenda Ngari
Ripple Board Lands Ex-U.S. Treasurer Rosie Rios Amid SEC Battle
San Francisco-based fintech firm Ripple announced on Tuesday that former U.S. treasurer, Rosa “Rosie” Gumataotao Rios, is joining its board of advisers. Rios will provide “invaluable perspec...
Read More