The month of October this year is crucial for a couple of things – one of which is the upcoming Ripple conference hosted by Ripple Labs, described as the annual gathering of the “world’s most trusted voices across financial services, payments, technology and policy” on many best cryptocurrency news sites.
As you probably know if you are reading our daily crypto news, the conference is named Swell and will be dedicated to the future of the payments industry and will offer a spotlight on Ripple’s native XRP cryptocurrency token. The upcoming Ripple conference, as many times before, will likely lead to a strong pump in the XRP price too, according to many analysts out there.
However, many are asking if the history can repeat – and will repeat this October. Starting in 2017, Ripple Labs has been hosting annual conferences each year named Swell, focused on the payments industry. The voices include many leaders in both the finance and the technology space, speaking about the coming altcoin news, the future of tech, innovation and a lot more topics.
In the previous years, the event has attracted leaders such as Sir Tim Berners-Lee who is seen as the inventor of the World Wide Web (WWW) as well as the former Fed Chairman Dr. Ben Bernanke. The upcoming Ripple conference will gather even more voices and will be an equal opportunity for people who want to learn more about the space – and the investors and traders looking for more insights.
As noted in the latest cryptocurrency news by a crypto analyst named Pierre, the past years have seen as “an easy and profitable long” opportunity as the price rocketed in the days ahead of the event.
Are we going to see a "Sweel Pump by Ripple" this year again?
Was an easy and profitable long last year.
Keeping a close eye on $XRP for the next couple of weeks and months. pic.twitter.com/waPr1LxEgB— Pierre (@pierre_crypt0) September 9, 2019
Still, it is also important to note that the upcoming Ripple conference comes in times of vulnerability for XRP. Historically, the price of XRP has not pumped during the conference itself, but surged as an after effect after the actual event.
With two years of considerable growth, we will wait and see what will the upcoming Ripple conference bring. What traders certainly don’t want to hear is another decline posted by Ripple and its XRP token.
In the latest altcoin news, we can see that XRP is trading at $0.2595 with a decline of 0.92% on the day.
Ripple CEO Garlinghouse Hints At IPO, Predicts More Public Offerings
“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. 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,” the Ripple CEO Garlinghouse noted.https://twitter.com/ashgoblue/status/1220413896068038656?s=21For those of you who haven't been following our crypto news, an IPO basically refers to the process of offering the shares of a private company to the public in a new stock issuance. Because of this, IPOs are often referred to as "going public" or as "floating" corporate shares to the wider market.The Ripple news also show that Garlinghouse is a fan of IPOs. As the crypto industry shifts its focus from initial coin offerings (ICOs) to initial public offerings (IPOs), there are many new and cumbersome legal and regulatory processes.However, as this space matures and in the wake of the post-boom ICO rout (which saw a lot of offerings exposed as either fraudulent or simply unsuccessful), firms are now seeking to build confidence with mainstream investors by way of public listings on stock exchanges.This is a trend which the Ripple CEO Garlinghouse appears to consider and thinks that it would consolidate itself in the near future. This comes even as some of the industry's largest players struggled to meet the stringent requirements of an IPO.Meanwhile, many major crypto firms such as Blockstack have chosen to pursue complaint token sales with the approval of the United States Securities and Exchange Commission (SEC). Silvergate Bank is one of the banks which went public in November 2019 and released its IPO on the New York Stock Exchange.The Bitcoin and altcoin news this afternoon show that BTC gained more than 1.40% on the day and the 24 hour volume looks impressive at $96 billion now.
Garlinghouse Intends To Take The Company Public
“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. 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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