Ripple to Explore IPO After SEC Case Ends, XRP Whales Continue Accumulation Spree

The CEO of Ripple, Brad Garlinghouse has shared his desire to explore the possibility of an IPO after settling its lawsuit with SEC

Crypto whale carrying a shopping trolley are buying crypto coins underwater.

The CEO of Ripple, Brad Garlinghouse, has shared his company’s desire to explore the possibility of an initial public offering (IPO) after settling its lawsuit with the U.S. Securities and Exchange Commission.

Ripple to Explore IPO After SEC Case

The lawsuit, in which the SEC alleges that Ripple engaged in an illegal securities offering through sales of XRP, has dragged on for nearly 15 months.

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However, recording several significant wins in the case, Ripple expects the case to be concluded this year. When asked about a possible IPO at the World Economic Forum in Davos, Garlinghouse responded;

“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.”

With Ripple making progress in the SEC case and the XRP correcting by more than 50% in the last two months, whales have seized the opportunity to raise their holdings.

According to data from Santiment, Ripple whales holding between 1M-10M XRP have reached their highest point in more than two months following an accumulation spree.

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Santiment further explained that these XRP whales (who are not exchanges) now hold 6.12% of all $XRP. This represents over $1.1 billion of XRP’s $19.14 billion market cap.

On The Flipside

  • In the same interview, Brad Garlinghouse said that he agrees with Ethereum co-founder Gavin Wood’s recent statement that not many cryptos will survive.

Why You Should Care

Garlinghouse believes that Ripple, which has grown significantly outside the U.S., could do the same in the country with “clarity and certainty” from the SEC case.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia