Ripple View Non-AMP

Ripple to Consider IPO Post-SEC Battle, Says CEO Brad Garlinghouse

Written by: Qadir AK

May 26, 2022

According to CNBC, Ripple Labs CEO Brad Garlinghouse stated at the World Economic Forum in Davos that the company will consider an IPO once the lawsuit with the Securities and Exchange Commission is resolved.

The SEC’s case against Ripple Labs has been ongoing for more than a year. It may be over by the end of 2022, according to Ripple Labs. As per Ripple’s CEO, once that happens, the company will seriously consider an IPO.

According to Garlinghouse, the corporation anticipates confidence and clarity surrounding the regulator in the United States. Overall, he has insisted on the United States enacting suitable rules for the blockchain and cryptocurrency industries. 

“But you know, we certainly are at a point in the scale, where that is a possibility. And we’ll look at that once we’re past this lawsuit with the SEC,” he said.

Last year, the CEO of Ripple’s major Japanese partner, SBI Group, projected that following the litigation, Ripple Labs would go public, claiming that Chris Larsen, a co-founder, and former CEO, wants it to happen. 

XRP Price Action

XRP/USD is currently trading in a range of 0.32 percent lower than yesterday. The Ripple has been moving sideways over the previous few days. The bulls are now attempting to re-enter the market with a cross-over the 9-day moving average, which might lead to the $0.50 resistance level. 

The XRP price has been consolidating in the market, and the coin has witnessed a tiny dip in value, presently trading at $0.40. In the interim, before any breakout or breach of the channel, XRP/USD may continue to drift sideways. 

Furthermore, if the price breaks through the channel’s top border, resistance levels of $0.55, $0.65, and $0.70 could be tested. While the Relative Strength Index (14) is going below the 40-level, the market may be supported by $0.25 and $0.20 for a retrograde movement, and if the price falls below those levels, another support is at $0.15.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Crypto Lending Firm Vauld Suspends Transactions After $198 Million Worth of Withdrawals

As it considers restructuring options, Singapore-based cryptocurrency lender Vauld has suspended all deposits, trading, and…

July 4, 2022

Will Tether (USDT) Be Able To Prove Its Stability Amid Investor Abandonment?

Tether (USDT) 's claim that it can sustain market-wide withdrawal is not doing well among…

July 4, 2022

Will Cardano’s Vasil Hard Fork be Deployed On Mainnet in the Next 4 Weeks?

Cardano, with its regular improvements, has been making progress that way. According to the Input-Output…

July 4, 2022

Dogecoin(DOGE), Solana(SOL) & VeChain (VET) To See Major Decline ! Here Are Levels To Watch

This Saturday, cryptocurrency markets remained sideways as the market cap of the entire cryptocurrency industry…

July 4, 2022

Top Reasons Why Bitcoin (BTC) Price Might Hit $22K This Week!

The second quarter of 2022 saw the cryptocurrency market’s downward trend continue. Bitcoin's price has…

July 4, 2022

Cardano’s Vasil Hard Fork Testnet Goes Live! Will it Impact the ADA Price?

Cardano price maintained a narrow trend throughout the weekend, which enabled the price to trade…

July 4, 2022