XRP Unlikely to Suffer from Ripple IPO, Says Crypto Expert
Amid multiple speculations on the effects of Ripple potentially launching an initial public offering (IPO), popular crypto author Panos Mekras has come out to dispel concerns about this development, yielding a negative effect on the XRP token.
Ripple IPO Will Lead To More Exposure For XRP, Mekras Says
On Friday, November 3, crypto analyst and trader Mason Versluis shared a screenshot on X in which a crypto enthusiast argued that a Ripple IPO would result in the “death of XRP.”
Although the enthusiast did admit that XRP may initially experience a price surge following the confirmed news of such development, he also suspects that Ripple’s “manipulation” of the altcoin will increase.
Will the Ripple Stock IPO be the DEATH of $XRP?
Very interesting discussion to be had there…
I believe it should only increase the interest in XRP and help it. But I can also see the other side… We shall see… pic.twitter.com/mTJYdRNh8c
— MASON VERSLUIS (@MasonVersluis) November 3, 2023
In contrast, Versluis stated that a Ripple IPO should only boost the interest in XRP. However, he does admit the possibility of the “other side.”
Reacting to Versluis’ post, Panos Mekras, stamped out the potential of a Ripple IPO causing any negative effect on XRP. He stated that Ripple inviting public investors would result in a bigger exposure for the company and the XRP token.
In addition, Mekras also implied that XRP functions as a “universal digital asset” with several use cases possessing an “unlimited potential”; thus, its trajectory cannot be solely tied to Ripple, which is just one company.
For now, these takes can be considered as only speculations as Ripple has not even officially confirmed its intention to launch an IPO.
There is no other side. Ripple going public means bigger exposure & awareness for the company, their products (some of which use XRP), and XRP itself.
And remember: Ripple is one company, while XRP is a universal digital asset with multiple use cases & unlimited potential. https://t.co/giVbWvcmlb
— Panos 🔼{X} (@panosmek) November 3, 2023
News surrounding the payment company’s “alleged” preparation to go public rose to a new height on Friday after crypto analyst Lewis Jackson posted a video on YouTube highlighting multiple signs of an incoming IPO.
In this YouTube post, Jackson spoke about the notable increase in Ripple’s mergers and acquisitions (M&A), which is a common activity with companies anticipating an IPO.
He also pointed to Ripple’s current recruitment activities in which the company is looking for a director of international tax and a shareholder communication senior manager, among others, all of which are roles that are indicative of impending IPO.
XRP Soars By 12% In A Week
In other news, XRP has produced a remarkable price performance in the last week, gaining by 12.47% within seven days. This price rise allows the fifth largest cryptocurrency to maintain its market recovery in Q4 2023 after the altcoin experienced a 40% price decline in Q3 as the hype surrounding Ripple’s partial victory over the SEC came down.
At the time of writing, XRP trades at $0.614 with a 1.49% gain in the last day. Meanwhile, the token’s daily trading volume is currently down by 34.98% and valued at $1.1 billion.
XRP trading at $0.6145 on the daily chart | Sorce: XRPUSDT chart on Tradingview.com
Featured image from iStock, chart from Tradingview
