Ripple IPO on the Horizon? SBI CEO Urges Action as XRP Lawsuit Heats Up

The post Ripple IPO on the Horizon? SBI CEO Urges Action as XRP Lawsuit Heats Up appeared first on Coinpedia Fintech News

XRP surged above $1.20 over the weekend, marking an 87% weekly gain and hitting a three-year high. The rally gained momentum after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overreaching in its regulation of the crypto industry. This significant development reignited discussions around Ripples potential Initial Public Offering (IPO).

With Trumps win, many speculations are doing the rounds like the Ripple vs SEC case dismissal, IPO, and Stablecoin launch. Since the regulatory matters are at ease, there are chances that Ripple may come with an IPO soon to maximize the current bull run.

SBI CEO Pushes for Ripples IPO

Yoshitaka Kitao, CEO of SBI Holdings, has urged Ripple to start preparing for an IPO as soon as possible once its legal battle with the SEC concludes. Ripple has been entangled in a prolonged lawsuit with the SEC, which recently filed an appeal in October. However, many analysts speculate that the SECs internal shake-ups could lead to the appeal being dropped, clearing Ripples path for a public offering.

Brad Garlinghouses Take on IPO Plans

Ripple CEO Brad Garlinghouse has reiterated that while an IPO is not currently a high priority, he hasnt ruled it out entirely. In 2022, he mentioned that Ripple would consider going public after resolving the SEC lawsuit. Though Ripples financial stability reduces the immediate need for an IPO, Garlinghouse had earlier envisioned the company going public within a year, a timeline disrupted by ongoing legal challenges.

Ripple Co-Founder Transfers XRP

Amid XRPs price rally, Ripple co-founder Arthur Britto moved 80 million XRP tokens, with 10 million heading to Binance. This movement has sparked speculation within the community about Ripples potential plans, including whether the company is inching closer to an IPO.

Ripples Future at a Crossroads

While the IPO discussion gains traction, Ripple remains in a wait-and-see mode. The companys past plans for an IPO were derailed by the SEC lawsuit, but recent legal and market developments may bring the idea back into focus. With regulatory hurdles potentially easing, Ripples IPO could mark a historic shift in its trajectory, offering investors a new avenue to engage with the blockchain leader.

In the meanwhile, XRP surged by 25% today, nearing the local resistance level of $1.0739. If buyers maintain momentum, a breakout could push the price to $1.10 and potentially to the $1.15-$1.20 range next week. However, if the weekly candle closes far from this resistance, a correction to the $0.90-$0.95 zone may occur. At press time, XRP trades at $1.0522.

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