Ripple is a fintech company founded in 2012 by programmer Jed McCaleb and entrepreneur Chris Larsen. The reason Ripple has taken over the cryptocurrency sector by storm is that compared to Bitcoin, it offers cheaper transaction charges and faster processing times.
Yet, what are the market’s expectations for Ripple’s IPO? Keep reading to find out.
Over the past couple of years, there has been a lot of chatter about Ripple Labs Inc., the company behind the widely recognised XRP cryptocurrency, going public. However, as of writing this article, Ripple has to file for an initial public offering (IPO).
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One of the main reasons why Ripple’s plans keep getting delayed is the company’s ongoing legal battle with the US securities regulator, the Securities and Exchange Commission (SEC).
This battle, which has been going on since the end of 2020, came about when the SEC filed a lawsuit against Ripple that claims it failed to register sales of XRP as a security.
In other words, the SEC claims that Ripple is guilty of selling the digital token as an investment contract for personal gain and that the sale constituted an unregistered securities offering.
At the same time, management staunchly defended its position that XRP isn’t an unregistered security at all. Court findings back up these claims and concluded that Ripple’s ‘Programmatic Sales of XRP didn’t constitute the offer and sale of investment contracts.’
According to Ripple’s CEO, Brad Garlinghouse, XRP is a digital token and cryptocurrency used by Ripple Labs to facilitate transactions via its network. He adds that it’s not a ‘contract, transaction, or scheme.’
Since their position is legally sound, Ripple hopes this feud will be over by the end of 2023.
They’re so sure of their legal standing that management is reported to have held a private tour for potential investors earlier this year. It was simply a way of testing the waters in terms of whether investors would be interested in a public offering.
Because Ripple is still privately held, it’s hard to determine its exact valuation. However, sources claim that its last known valuation was reported to be close to $15 billion.
Likewise, it’s just as difficult to estimate what its IPO stock price would be since it still hasn’t filed for its IPO. The good news is that once it goes public, financial analysts can then draw conclusions about potential stock prices based on its estimated valuation as a publicly held company.
It seems pretty clear that there will be a Ripple IPO in the near future. That said, there’s a bit of uncertainty when that might be.
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The information in this article is well-researched and factual. Still, it contains opinions also, and IT IS NOT FINANCIAL ADVICE and should not be interpreted as such, Do not make any financial decisions based on the information in this article; we are not financial advisors. We are journalists. You should always consult with a professional before making any investment decisions. We hold no stock or interest in any companies discussed on this website/app.
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