XRP Unlikely To Suffer From Ripple IPO, Crypto Author Says

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	30,470,977,257	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

30,470,977,257

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0259	4.82%	0.5637	0.5636	0.5637

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0259

4.82%

0.5637

0.5636

0.5637

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.573	0.5326	0.538	0.5378	0.382490 - 0.852600

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.573

0.5326

0.538

0.5378

0.382490 - 0.852600

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:11:39	241.59	0.5637	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:11:39

241.59

0.5637

USD

Price x Volume	Volume	Base Symbol	Related Pairs
55,243,232.86	100,396,534.56	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

55,243,232.86

100,396,534.56

XRP Unlikely To Suffer From Ripple IPO, Crypto Author Says

04/11/2023 12:00pm

NEWSBTC

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. Related Reading: XRP Price Rally Threatened As Ripple Unlocks 1 Billion Tokens 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. 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. 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. Related Reading: Ripple Achieves Regulatory Approval To Offer XRP Services 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

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