The Ripple XRP community is abuzz with anticipation as former Ripple director Sean McBride lays out a potential timeline for significant developments. Simultaneously, CEO Brad Garlinghouse provides insights into Ripple’s stance on XRP exchange-traded funds (ETFs).
Let’s delve into the key highlights and explore the future prospects.
McBride’s Predictions
Sean McBride recently shared exciting projections on his X handle, predicting a genuine XRP ETF in either 2024 or 2025. He confidently states, “You will see a #XRP #ETF in 2024 or 2025. You will also see a #Ripple #IPO outside the US in 2025.”
This aligns with the growing interest in crypto ETFs post the U.S. SEC’s approval of spot Bitcoin ETFs. Garlinghouse acknowledges the possibility of an XRP ETF without specifying the timeline or potential issuer.
Read More About This: Ripple CEO Garlinghouse Comments on SEC Lawsuit and XRP ETF Launch
Ripple’s IPO on the Horizon?
McBride goes further, foreseeing Ripple’s Initial Public Offering (IPO) in 2025. This prediction aligns with Garlinghouse’s recent interview hinting at a potential IPO outside the United States. However, Ripple temporarily postpones its IPO plans, prioritizing compliance and regulatory engagement.
The company’s prior exploration of overseas jurisdictions for potential listing adds an international dimension to its strategic vision.
Market Trends and Insights
Now, let’s take a closer look at XRP’s current performance. Valued at $0.53835819, XRP has seen a -5.79% decrease in the last 24 hours. This positions XRP’s market capitalization at $29.37 billion, with a year-to-date decline of -12.06%.
While a bullish trend is evident with the upward slope of the 50-day moving average, caution is advised as the 200-day moving average shows a downward trajectory since February 14, 2024, indicating a weak market trend.
Also Read: Ripple Price Prediction: How XRP Price Could Deliver 2x Returns This Crypto Rally?
Where Does Ripple (Legally) Stand Now?
Garlinghouse sheds light on Ripple’s proactive stance in response to the SEC’s “regulation through enforcement” approach. Expressing satisfaction with a recent court decision declaring XRP not a security, Garlinghouse emphasizes the SEC’s consistent legal losses in their dispute.
Remaining optimistic, he sees resolution possibilities either through the SEC acknowledging their defeats or Congress intervening with new legislation.
Throughout, Ripple maintains its commitment to compliance and regulatory engagement, actively participating in a super PAC to advocate for pro-crypto candidates supporting constructive regulation and innovation.
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