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Did Ripple CTO David Schwartz Just Confirm an IPO and Settlement Announcement at the Victory Party in New York? Is XRP Price Poised for a Massive Upswing?
Ripple’s upcoming victory party on September 29 is a monumental event that could change the fate of the company and its issued XRP token. The XRP community has been speculating on what the company behind XRP might announce during the event.
Some expect Ripple to unveil plans for an initial public offering (IPO) to take the company public. In the past, CEO Brad Garlinghouse has hinted at this. However, he noted that the legal proceedings with the SEC were hindering such developments.
There’s also speculation that Ripple could announce a settlement deal with the SEC during the party. Although the judge has ruled that XRP is not a security, the SEC intends to appeal the decision, dragging out the case. The case has thus far been time-consuming, expensive, and a setback for Ripple. SEC on the other hand is facing a nearly assured loss. It stands to reason that the two parties will settle. Furthermore, this is a common occurrence with the SEC settling with a majority of firms that violate market rules.
Speculation about these two outcomes has been driving demand for XRP. Since the start of the month, whales have increasingly accumulated XRP tokens adding more than 30 million XRP coins to their balances. This points to a possible breakout in the near future.
Read More: Whales and Speculators Boost XRP Amid Bullish Sentiment: $0.55 Next?
Ripple CTO Offers Insight on Upcoming Party
As the community continues to share their opinion on the upcoming party, Ripple CTO David Schwartz has dropped a hint on the possible announcement. It started with a market commentator going by the username @XRP_Productions on X (formerly Twitter) sharing his predictions, which are;
Schwartz replied to this, saying that only two of these predictions would come true. It is fairly safe to assume that Gary Gensler will not be marched naked. This leaves a settlement, IPO, new all-time high, and Jell-O shots to choose from.
Although the CTO did not give further details on this, it is important to note that it would be highly unlikely for the company to IPO while the case is ongoing. The Securities Act requires a company to file a registration statement with the SEC before it may offer its securities for sale.
If Ripple is to announce an IPO, it would also suggest a full settlement with the SEC. This would make it a monumental event that could send XRP to the moon. Another outcome would be a settlement without the IPO but still such a big win for Ripple that XRP sets a new all-time high.
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