The CEO of Ripple Brad Garlinghouse intends to take the company public, as he commented during Davos 2020 but the effects on XRP’s price could be catastrophic so let’s find out more in the ripple news today.
According to the reports in Ripple-centric media, Brad Garlinghouse intends to take the company public and confirmed that an IPO is on the cards for the fintech platform. There was nothing on his feed but SVP of Product Asheesh Birla tweeted:
“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.”
Floating on the stock market could provide the investors another way to get into the company without the volatility and regulatory restrictions of crypto but what does this mean for the future of XRP as a tradeable asset and an investment asset as well? Ripple supporters were extremely positive about this development and think that it would be bullish for the company and their tokens. However, the wider crypto community was commenting about this decision aside from the loyal XRP army which most have a similar opinion.
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The crypto trader Anondran stated:
“WTF. $XRP is planning to do an IPO??? As if printing worthless coins, pumping it and making billions of dollars wasn’t enough? Send this shitcoin to absolute depth of hell.”
The San Francisco based company had its token being often considered as unregistered security and was a subject to future crackdowns from the US regulators. However, the company is still locked in the courts since they are establishing the status of XRP but had no verdict brought yet. As per the reports, XRP prices could skyrocket as well if it considered a commodity. With the IPO debate heating debate, the institutional investors are likely to take the option across their brokers rather than take on the tokens directly. It would net the company and most of its executives but not necessarily XRP holders. XRP had a really bad year in 2019 and dropped by 47 percent over the year ending up at a two year low below $0.2.
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