{"id":464794,"date":"2021-05-31T12:13:49","date_gmt":"2021-05-31T12:13:49","guid":{"rendered":"https:\/\/uniquehot.com\/?p=464794"},"modified":"2024-06-11T13:56:04","modified_gmt":"2024-06-11T13:56:04","slug":"ripple-surges-15-following-news-that-it-wants-to-go-public","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple-surges-15-following-news-that-it-wants-to-go-public\/","title":{"rendered":"Ripple Surges 15% Following News That It Wants To Go Public"},"content":{"rendered":"

Ripple CEO Brad Garlinghouse says that the San Francisco-based payments startup intends to go public once its legal battle with the U.S. Securities and Exchange Commission (SEC) is settled.<\/p>\n

XRP To Go Public<\/h2>\n

In an\u00a0interview<\/a> during the Consensus 2021 event, Garlinghouse commends Coinbase following the crypto exchange\u2019s debut on the Nasdaq in April.<\/p>\n

Despite the fact that the general crypto market appears to be in decline, Ripple’s native cryptocurrency, XRP, has risen 14.88% to $1. XRP is now trading at $1.02 with a market valuation of $44.21 billion at the time of writing. To put this into perspective, XRP\u2019s price has risen by 390% over the past year<\/p>\n

Garlinghouse says Ripple is considering pushing through with its plan to launch an initial public offering, but it will have to wait until the lawsuit with the SEC is over.<\/p>\n

\u201cI think that the likelihood that Ripple is a public company is very high at some point. I think in the middle of an SEC lawsuit, you know we need to get that closed out and the SEC approves an S1, it\u2019s easier to do that after you have closure and clarity and that regulatory certainty we have been seeking for so long.\u201d<\/em><\/p><\/blockquote>\n

In January 2020, Garlinghouse revealed Ripple\u2019s plan to go public as he predicted<\/a> an IPO will happen in the crypto space over the next 12 months. In December, the SEC formally filed a complaint against the payments giant, alleging<\/a> that Ripple\u2019s native asset XRP was an unregistered security upon its launch and remains a security to this day.<\/p>\n

\"Ripple
XRP\/USD surges above $1 following news of intention of going public. Source: TradingView<\/a><\/figcaption><\/figure>\n

Related article |<\/strong> Ripple (XRP) Turns Green, Here\u2019s Why The Bulls Could Aim $2<\/a><\/em><\/p>\n

News Comes As Ripple Stops SEC From Accessing Legal Records<\/h2>\n

This current XRP price increase comes as Ripple scores another little victory<\/a> in its struggle with the Securities and Exchange Commission of the United States (SEC). Ripple has managed to prevent the SEC from obtaining any of the company’s legal paperwork, as requested by the regulator.<\/p>\n

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#XRPCommunity<\/a> #SEC_NEWS<\/a> v. #Ripple<\/a> #XRP<\/a> BREAKING!! JUDGE NETBURN DENIES SEC'S ACCESS TO RIPPLE'S LEGAL MEMORANDUM, DEALING HUGE BLOW TO SEC.https:\/\/t.co\/xxa26cG45B<\/a><\/p>\n

— James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea (@FilanLaw) May 30, 2021<\/a><\/p><\/blockquote>\n