Ripple IPO on the Horizon? SBI CEO Urges Action as XRP Lawsuit Heats Up
XRP surged above $1.20 over the weekend, with a weekly gain of 87%, hitting a three-year high. The rally gained momentum after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overregulating the crypto industry. This significant development has reignited discussions surrounding Ripple’s potential initial public offering (IPO).
With Trump’s victory, many speculations began to circulate, such as the dismissal of the Ripple v. SEC case, IPOs and stablecoin launches. With regulatory concerns easing, Ripple may soon conduct an IPO to maximize the current bull run.
SBI CEO pushes for Ripple IPO
Yoshitaka Kitao, CEO of SBI Holdings urge Ripple will begin preparations for an IPO “as soon as possible” once the legal battle with the SEC is over. Ripple is locked in a protracted lawsuit with the SEC, which recently filed an appeal in October. However, many analysts speculate that an internal restructuring at the SEC could result in the appeal being dismissed, clearing the way for Ripple’s public offering.
Brad Garlinghouse on IPO plans
Ripple CEO Brad Garlinghouse reiterated that while an IPO is not a “high priority” at the moment, he is not ruling out the possibility entirely. In 2022, he mentioned that Ripple would consider going public after settling the SEC lawsuit. While Ripple’s financial stability has reduced the urgent need for an IPO, Garlinghouse had earlier envisioned the company going public within a year, but that timeline has been disrupted by ongoing legal challenges.
Ripple co-founder transfers XRP
Amid the rise in XRP prices, Ripple co-founder Arthur Britto transferred 80 million XRP tokens, 10 million of which went to Binance. The development sparked speculation within the community about Ripple’s potential plans, including whether the company is moving closer to an IPO.
Ripple’s future is at a crossroads
Despite the attention the IPO discussions are gaining, Ripple remains in “wait and see” mode. The company’s past IPO plans were derailed by SEC lawsuits, but recent legal and market developments could bring the idea back into the spotlight. With regulatory hurdles likely to loosen, Ripple’s IPO could mark a historic shift in its trajectory, providing investors with new ways to engage with blockchain leaders.
Meanwhile, XRP surged 25% today and is approaching local resistance at $1.0739. If buyers maintain momentum, a breakout could push the price to $1.10 and possibly the $1.15-$1.20 range next week. However, if the weekly candle closes away from this resistance, a correction towards the $0.90-$0.95 area is likely. At press time, XRP was trading at $1.0522.
