May 27, 2021 | AtoZ Markets – Ripple CEO Brad Garlinghouse believes that the company may go public when the lawsuit with the Securities and Exchange Commission (SEC) is over. This is reported by Business Insider, citing a statement from the head of Ripple.
Garlinghouse added that the chances of going public "are very high at some point." However, it is not clear whether the outcome of the trial will affect the plans of the fintech company. It should be noted that the company has already reported about the plans of going public.
Read also: SEC vs. Ripple Lawsuit Will Drag on Until June 2021
Ripple's decision to go public is fueled by Coinbase's successful IPO. At its peak, the capitalization of the cryptocurrency exchange reached $100 billion. At the time of this writing, the capitalization of Coinbase is $50.4 billion. However, Garlinghouse's statements did not affect the price of the XRP token.
At some point, altcoin rose by 5%, but in a monthly interval, the price remains in a downtrend. At the time of writing, XRP is priced at $1.02, down 0.02% in the last 24 hours. The market capitalization of the token dropped to $47.2 billion.
Source: TradingView
Recall that the exchange regulator filed a lawsuit against Ripple in mid-December 2020. Then the company and its management were accused of selling unregistered securities under the guise of XRP tokens. According to the SEC, Ripple has illegally sold XRP tokens worth $1.38 billion since 2013 without following the official registration procedure.
Think we missed something? Let us know in the comment section below.