XRP Unlikely to Suffer from Ripple IPO, Says Crypto Expert

Amid a number of speculations on the results of Ripple doubtlessly launching an preliminary public providing (IPO), fashionable crypto writer Panos Mekras has come out to dispel considerations about this improvement, yielding a damaging impact on the XRP token.

Ripple IPO Will Lead To Extra Publicity For XRP, Mekras Says

On Friday, November 3, crypto analyst and dealer Mason Versluis shared a screenshot on X wherein a crypto fanatic argued {that a} Ripple IPO would consequence within the “loss of life of XRP.”

Though the fanatic did admit that XRP might initially expertise a value surge following the confirmed information of such improvement, he additionally suspects that Ripple’s “manipulation” of the altcoin will improve.

Will the Ripple Inventory IPO be the DEATH of $XRP?

Very attention-grabbing dialogue available there…

I imagine it ought to solely improve the curiosity in XRP and assist it. However I may see the opposite facet… We will see… pic.twitter.com/mTJYdRNh8c

— MASON VERSLUIS (@MasonVersluis) November 3, 2023

In distinction, Versluis said {that a} Ripple IPO ought to solely increase the curiosity in XRP. Nonetheless, he does admit the potential for the “different facet.”

Reacting to Versluis’ put up, Panos Mekras, stamped out the potential of a Ripple IPO inflicting any damaging impact on XRP. He said that Ripple inviting public traders would lead to an even bigger publicity for the corporate and the XRP token.

As well as, Mekras additionally implied that XRP capabilities as a “common digital asset” with a number of use circumstances possessing an “limitless potential”; thus, its trajectory can’t be solely tied to Ripple, which is only one firm.

For now, these takes might be thought-about as solely speculations as Ripple has not even formally confirmed its intention to launch an IPO.

There is no such thing as a different facet. Ripple going public means greater publicity & consciousness for the corporate, their merchandise (a few of which use XRP), and XRP itself.

And keep in mind: Ripple is one firm, whereas XRP is a common digital asset with a number of use circumstances & limitless potential. https://t.co/giVbWvcmlb

— Panos 🔼{X} (@panosmek) November 3, 2023

Information surrounding the fee firm’s “alleged” preparation to go public rose to a brand new top on Friday after crypto analyst Lewis Jackson posted a video on YouTube highlighting a number of indicators of an incoming IPO.

On this YouTube put up, Jackson spoke in regards to the notable improve in Ripple’s mergers and acquisitions (M&A), which is a typical exercise with corporations anticipating an IPO. 

He additionally pointed to Ripple’s present recruitment actions wherein the corporate is searching for a director of worldwide tax and a shareholder communication senior supervisor, amongst others, all of that are roles which can be indicative of impending IPO.

XRP Soars By 12% In A Week

In different information, XRP has produced a exceptional value efficiency within the final week, gaining by 12.47% inside seven days. This value rise permits the fifth largest cryptocurrency to keep up its market restoration in This autumn 2023 after the altcoin skilled a 40% value decline in Q3 because the hype surrounding Ripple’s partial victory over the SEC got here down.

On the time of writing, XRP trades at $0.614 with a 1.49% achieve within the final day. In the meantime, the token’s day by day buying and selling quantity is at present down by 34.98% and valued at $1.1 billion.

XRP buying and selling at $0.6145 on the day by day chart | Sorce: XRPUSDT chart on Tradingview.com

Featured picture from iStock, chart from Tradingview