Ripple’s potential for an international initial public offering (IPO) reflects doubts surrounding the approval of U.S. regulations. A blockchain researcher predicts that the price of XRP will experience a surge if Ripple goes public.
During an interview hosted by CoinDesk at the 2024 Consensus conference, Ripple CEO Brad Garlinghouse hinted that the company is considering other jurisdictions for a possible IPO, stating that it doesn’t make sense to go public in the United States.
Garlinghouse credited Chairman Gary Gensler of the U.S. Securities and Exchange Commission (SEC) for their decision not to pursue an IPO. He expressed doubts that the SEC would approve Ripple’s S-1 registration statement for an IPO.
Earlier, Lynn Martin, the president of the New York Stock Exchange (NYSE), expressed openness towards blockchain-related businesses like Ripple. Garlinghouse contrasted Martin’s progressive outlook with that of SEC Chairman Gensler, stating that Gensler’s stance is not aligned with this progressive perspective.
Due to the current circumstances, Garlinghouse concluded that it would be foolish for Ripple to consider a U.S. IPO. He emphasized this point by referencing Coinbase, the leading exchange in the United States, and how the SEC had previously approved Coinbase’s IPO statement.
In response to these developments, blockchain researcher Collin Brown predicted a significant increase in the value of XRP once Ripple goes public. Garlinghouse confirmed that Ripple is interested in going public but stated that they would likely carry out their IPO outside of the U.S. as long as Gary Gensler remains Chair of the SEC.
At the time of writing, XRP was valued at approximately $0.5147, experiencing a 1.08% decrease in the last 24 hours, according to CoinMarketCap data. Additionally, it has maintained a bearish position of 3.93% over the previous seven days.
Previously, CNF highlighted Garlinghouse’s belief that an XRP ETF is both inevitable and essential for cryptocurrency adoption.