XRP The controversy surrounding the upcoming Ripple IPO has died down recently as the community focuses on more topical issues such as the performance of XRP during the ongoing bull market.
During market uptrend other crypto- Despite not rising with the coins, XRP is currently in the middle of the current downtrend. Notably, Bitcoin (BTC) fell by 3.86% and Ethereum (ETH) by 5.13% in the last 24 hours, while XRP fell by 8.18% and fell below the $0.50 support.
Ripple IPO Expectation
Some market observers think that various factors could push XRP’s price higher and push its targets to double to triple digits. One of these factors could be Ripple’s initial public offering (IPO).
Ripple’s blockchain-based payment firm has not yet set a clear date for its IPO. However, CEO Brad Garlinghouse has mentioned the possibility of an IPO in the future. Additionally, Wall Street’s Linda Jones noted that last August, research firm Pitchbook estimated Ripple’s IPO probability at 98%.
Jones, RippleHe argued that launching ‘s IPO might be more appropriate when XRP is trading at a low price. Prominent US lawyer John Deaton also predicted that Ripple could go public within a year after achieving a regulatory victory in the US.
Possible XRP Price After Ripple IPO
Last May, Jones claimed that Ripple shares could rise as high as $600 post-IPO, reflecting a $97.7 billion valuation, citing many factors such as Coinbase’s post-IPO valuation and Ripple’s large XRP holdings.
Specifically, according to data from Linqto, Ripple’s pre-IPO shares are currently trading at $44.69, much higher than last year’s valuation of $35. A 1,242% increase in the current figure would mean an increase in Ripple’s valuation by a similar rate.
While it is thought that this large increase could positively impact the price of XRP, there is little historical precedent correlating data to accurately measure the scale of this impact. If the price of XRP, currently trading at $0.4940 after the market crash, rises at a similar rate of 1.242% expected for Ripple shares, it will reach $6.63.
As we reported as Koinfinans.com, industry commentators predict that the increase in Ripple’s shares after the IPO will trigger a similar increase in the price of XRP, which will lead to the expectation of an IPO among XRP supporters. This argument takes into account the historical correlation between Bitcoin (BTC) and the stocks of Bitcoin mining companies.
However, these comments are speculative and should not be considered investment advice. There will be no automatic price correlation between Ripple’s shares and the price of XRP. As a result, it remains unclear whether XRP will increase along with the company’s shares.
Source : The Crypto Basic