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The head of Ripple has fuelled the interest of XRP “hodlers” with the promise of an initial public offering (IPO). However, reports have it that the IPO may be dependent on the outcome between the SEC and Ripple.Brad Garlinghouse, the CEO of Ripple is of the belief that the company may go public once a resolution is reached; this is according to a report by Business Insider, citing a statement from the head of Ripple.
Garlinghouse also stated that the chances of going public “are very high at some point.” However, it remains unclear whether the outcome will have any effect on the plans of the Fintech company. It is also worth noting that the company has already reported about the plans of going public.
The decision to go public by Ripple has been attributed by many to the successful IPO by Coinbase, with the capitalization of the cryptocurrency exchange reaching $100 billion at its peak. However, the capitalization of Coinbase has continued to fluctuate, reaching about $50.4 billion at some point. However, the CEO’s statements did not affect the price of the XRP token.
The crypto world has not had it easy in recent times. While altcoin rose by 5% at some point, the price remains in a downtrend in a monthly interval. The price of XRP fell to as low as $1.02 at some point, with the market capitalization of the token dropping to $47.2 billion.
Ripple has had their share of controversy in recent times, just as other digital currencies. However, the strong fundamentals of the company and the projects from the team seem to have continued to drive the Ripple campaign despite the adversities.
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