A number of intriguing developments have emerged, all of which point to cryptocurrency giant Ripple may be in the works of launching an Initial Public Offering (IPO). As expected, concerns have been raised among the XRP community about whether a Ripple IPO could negatively affect the price of XRP in the long run. But crypto expert Panos Mourkas isn’t worried, dismissing concerns about the launch of an IPO negatively impacting the price of XRP.
Concerns Surface Over Ripple’s Planned IPO Hurting XRP
Ripple hasn’t announced its going public yet, but crypto analysts have pointed to the company’s recent hiring trends as preparations. Crypto analyst Lewis Jackson pointed out this hiring trend in a YouTube video, signaling reactions from XRP enthusiasts. One concern that came from this video was a comment about an IPO being the death of Ripple. According to the comment, an XRP “might pump off the news,” but then Ripple could “dump and manipulate XRP.” The screenshot of this comment was shared on X by Mason Versluis, sparking another round of debate.
https://x.com/MasonVersluis/status/1720530978064789910?s=20
Will the Ripple Stock IPO be the DEATH of $XRP?
Very interesting discussion to be had there…
I believe it should only increase the interest in XRP and help it. But I can also see the other side… We shall see… pic.twitter.com/mTJYdRNh8c
— MASON VERSLUIS (@MasonVersluis) November 3, 2023
However, according to Mourkas, Ripple’s IPO will likely increase interest in XRP rather than hurt it. It’s no news that the price of XRP is largely affected by happenings around Ripple. As Ripple’s visibility and credibility rise on Wall Street, more mainstream investors will recognize the potential of its offerings, one of which is XRP. This exposure and validation can attract new buyers to the XRP market, boosting demand and prices.
https://x.com/panosmek/status/1720547127703560532?s=20
There is no other side. Ripple going public means bigger exposure & awareness for the company, their products (some of which use XRP), and XRP itself.
And remember: Ripple is one company, while XRP is a universal digital asset with multiple use cases & unlimited potential. https://t.co/giVbWvcmlb
— Panos 🔼{X} (@panosmek) November 3, 2023
It’s also important to note that Ripple and XRP are two separate entities. XRP is an independent digital asset. Therefore, an IPO from Ripple will involve selling shares of Ripple stock, not XRP tokens. Experts have predicted Ripple’s valuation could exceed $100 billion after going public. Even if this valuation were to drop post-IPO, XRP remains independent with more utility beyond Ripple.
XRPUSD currently trading at $0.62757 level today. Chart: TradingView.com
Future Of Ripple And XRP
Ripple is now on its way to putting its ongoing legal tussle with the SEC behind it, and a settlement is now in sight. The company was recently selected by the National Bank of Georgia as an official partner for a pilot of the Georgian Lari currency.
XRP, on the other hand, is starting to grow without restraint after it was deemed not to be a security by a US federal judge. The crypto is up 13.73% in a seven-day timeframe and is looking to establish a strong footing over the $0.62 level. XRP was recently integrated into the Dubai crypto market by the Dubai Financial Services Authority.
In essence, recent happening point to a further potential upside for XRP when a Ripple IPO is fully established. According to one of Ripple’s co-founders, XRP price will climb to $10,000.
Featured image from Freepik