Ripple may not be able to have an IPO in 2024, according to legal expert Bill Morgan. He, a pro-XRP lawyer and cryptocurrency enthusiast, has expressed doubts about the feasibility of a Ripple Initial Public Offering (IPO) due to the current legal challenges faced by Ripple. Ripple cannot have an IPO in 2024, legal expert reveals.
🌎《Now you can now start trading at TNNS PROX》📈
🔥Start trading today, click "sign up" from the link above.
Crypto Lawyer Doubts Possibility Of Ripple IPO In 2024
In November 2023, Wall Street expert Linda Jones predicted that Ripple might launch its IPO in 2024. An X (formerly Twitter) crypto enthusiast then questioned whether Ripple's anticipated IPO would push the price of XRP to $10 in 2024, referencing Jones' forecast.
Morgan responded to the post by questioning the credibility of the expert and expressing doubt about Ripple going public amid its ongoing legal issues, particularly the lawsuit with the SEC initiated in 2020. This legal battle arose from the SEC's allegations that Ripple violated securities laws by selling $1.3 billion in tokens without proper registration.
Although Ripple secured a partial victory against the SEC in 2023, with a ruling that programmatic sales of XRP were not classified as a security, the legal battle continues. Morgan suggested that a Ripple IPO would not be feasible while the company is entangled in the lawsuit, and shared a screenshot of the ongoing Ripple and SEC case, which is set to conclude by April 29, 2024.
Many crypto experts have predicted that a Ripple IPO could boost the price of XRP, which has struggled to experience significant growth. Currently, XRP is trading at $0.57 and recently lost its position as the fifth-largest cryptocurrency by market capitalization to Solana in Hong Kong's Virtual Asset Consortium's (HKVAC) crypto index.
Uncertain Fate For Ripple IPO
In 2023, there were widespread rumors about Ripple launching an IPO in 2024. However, a new report has challenged these speculations. The CEO of Ripple, Brad Garlinghouse, recently announced plans to repurchase $258 million worth of shares in the company from early investors.
Garlinghouse clarified that the decision to repurchase such a large amount of shares does not necessarily mean that an IPO is imminent. On the contrary, many XRP enthusiasts are anticipating a Ripple IPO following the crypto payment company’s settlement with the US SEC.
"We all know Ripple will IPO after the case vs. SEC, and with an actual stock retail, fund managers, hedge funds will all be able to have exposure to both Ripple as a company and XRP in one," stated an X user.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Comentarios