Ripple Continues to Make Waves
At the Davos World Economic Forum last January, CEO of Ripple Brad Garlinghouse explained to a crowd of listeners that a Ripple IPO could occur sometime in 2020. He also stated that more IPOs based on cryptocurrencies are likely to follow, and that this will likely become a recurring event.
In an interview, he stated:
In the next 12 months, you’ll see IPOs in the crypto/ blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… It’s a natural evolution for our company.
Nobody can doubt that Ripple has become a leading and revolutionary company within the crypto arena. 2019 saw the firm boosting its stock and support in companies like MoneyGram, which saw the international remittance payments firm utilizing XRP to potentially allow people located within different regions to send money home to their friends and families.
The company also experienced a massive funding round that saw its valuation grow to a whopping $10 million.
At the same time, Ripple has long been marred by a class-action lawsuit that was instigated by investors who claim the company lied about its non-security status. One of the plaintiffs describes Ripple as an “ongoing ICO [initial coin offering].”
Nevertheless, Ripple has continued to make waves in the crypto community and has sought to bring about new changes that will enhance the space and bring it closer to widespread adoption and mainstream usage. Thus, an IPO – in which standard members of the public are investing in the cryptocurrency – would likely edge it closer than ever to “legitimate status.”
A user on Twitter named “Steven Bull from the Diep” explained in a message:
How Ripple IPO will help increase XRP: Ripple will be able to hire more talents, acquire more business partners, build more facilities and do whatever it takes to solve real problems with XRP. As a result, XRP’s value will grow along with its utility.
A Lot of Coins Are Moving Up
Anticipation of the IPO has seemingly helped boost Ripple’s overall standing in the crypto space. XRP has been on a serious bull run since January of this year, having spiked more than ten percent in the last few weeks alone.
Then again, Ripple hasn’t necessarily been alone in its ascension, with currencies like bitcoin (BTC) edging towards $10,000 and bitcoin SV (BSV) having shot up by roughly 99 percent following news that founder Craig Wright had documentation that supported his claim of allegedly being Satoshi Nakamoto, the purported founder and creator of BTC.