Ripple's initial public offering (IPO) plans are once again in the spotlight after SBI Holdings CEO Yoshitaka Kitao urged the company to prepare for IPO following the resolution of its legal disputes with the SEC.
Ripple's IPO Back in Focus
Ripple, a leader in blockchain technology, is in the limelight again due to revived discussions about its potential IPO. SBI Holdings CEO Yoshitaka Kitao recently encouraged Ripple to gear up for an IPO once its legal battle with the SEC finishes. The SEC's lawsuit, filed in 2020, accuses Ripple of conducting an unregistered securities offering through its XRP tokens. Although Ripple claimed partial legal victory in 2023, the SEC's appeal filed in October prolongs the case. Nevertheless, analysts believe possible changes in SEC leadership might halt the appeal, paving the way for an IPO.
Brad Garlinghouse's Stance on Ripple's Public Listing
Despite IPO suggestions, Ripple CEO Brad Garlinghouse highlighted that it is not a top priority for the company due to its strong financial standing. However, Garlinghouse is interested in revisiting IPO plans once regulatory concerns are sorted, as he had initially aimed for a public debut in 2020 before the SEC litigation commenced. Pursuing an IPO could enhance Ripple's valuation and solidify its status as a blockchain solution leader while providing crucial regulatory clarity.
Current XRP Situation
At the time of writing, XRP was priced at $1.0331. On November 16, the price surged to $1.2698, a level last observed in November 2021.
Currently, Ripple continues to consider an IPO, although a definitive decision has yet to be made.
