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In the face of Bitcoin’s price turbulence, XRP Coin struggles to preserve its $0.5 support level. Recent news suggests optimistic prospects, with potential for larger steps to be taken soon. Eleanor Terrett shared the latest buzz about Ripple just a few minutes ago. If things pan out as expected, Ripple could make a significant move to increase XRP’s price.
Ripple’s Public Offering
A vital appraisal regarding Ripple‘s IPO was shared by Linda P. Jones today. Many experts predict the IPO will occur in 2024-2025, but Linda anticipates this crucial step might happen earlier.
This could make Ripple a publicly traded company, akin to Coinbase. With stock market exposure, XRP Coin might garner more popularity and appeal. Linda voiced her reasons for the earlier IPO speculation today:
- Private road show meeting with analysts in April ’23
- Only companies not needing cash can IPO in a poor IPO market (Ripple, with $1 billion in cash, can be one of them)
- Strong demand will be created by the conclusion of the lawsuit, maintaining the momentum
Eleanor Terrett from FOX Business also shared her insights:
In April, Ripple held a private ‘road show’—a marketing event where a company and insurers gather with potential investors to drum up interest in an IPO. Almost all reputable institutional investment firms reportedly attended this event.
The Future of XRP Coin
Ripple’s CEO had stated last year that they would swiftly embark on IPO endeavors after the lawsuit. He also recently mentioned that the lawsuit might conclude in the forthcoming weeks. Piecing these elements together, we might see Ripple quickly going public upon the lawsuit’s resolution in June (or an early date like July). Investors’ interest is reportedly high, and once Ripple wins or settles the lawsuit, no significant barriers remain.
What’s the upshot? Consider any altcoin opening for trading on the US exchange. Even though Ripple and XRP Coin are different entities, they’re intermingled significantly. Ripple‘s IPO might probably trigger a massive rally in XRP Coin’s price.
How much valuation could Ripple company potentially achieve? CryptoSasha provides an answer:
A valuation of $100-150 billion from the current $34-35 per share seems very realistic. Returns of 15-20x and a $600 price are appropriate and even conservative. My high target is a $250 billion valuation, and I believe it will become a $1 trillion company by 2030 (like NVidia).
With a current market value of $26 billion, if Ripple reaches a $250 billion valuation, it could also pull XRP Coin’s price higher. June will be an exciting month for XRP Coin investors.
Disclaimer: This article does not contain investment advice. Investors should be aware of the high volatility and consequent risk of cryptocurrencies, and conduct transactions based on their research.
