Analyst VirtualBacon shares the latest news and analysis surrounding XRP and Ripple, including the company's IPO, stablecoin launch plans, and ETF expectations.
Will XRP Hold Strong After Ripple's IPO?
Ripple's pre-IPO shares are currently trading at a valuation of around $20 billion. While post-IPO growth is possible, VirtualBacon emphasizes that this does not necessarily mean XRP will rise in value. Investors might opt for buying company shares over the XRP token, with pre-IPO Ripple shares priced at about $100.
Ripple's Stablecoin and Bank License Plans
Ripple has applied for a national bank license in the U.S., allowing it to compete with Circle. This move supports the creation of the RLUSD stablecoin. With new regulations like the Genius Act being introduced, stablecoin issuers may soon be required to hold real dollars or Treasury securities. Obtaining a bank license would make RLUSD more appealing to institutional investors.
Likelihood of XRP ETF Approval
Following the launch of XRP futures ETFs on CME and NYSE, the likelihood of creating spot products is increasing. According to VirtualBacon's comments, Bloomberg analysts rate the chance of spot XRP, Litecoin, and Solana ETFs being approved at 95% by October. This could solidify XRP's standing among leading digital assets.
Current events surrounding XRP and Ripple highlight the growing interest and dynamics in the cryptocurrency market. However, investors should exercise caution due to the uncertainties associated with the IPO and ETF expectations.
