Ripple to Consider IPO Post-SEC Battle, Says CEO Brad Garlinghouse

The post Ripple to Consider IPO Post-SEC Battle, Says CEO Brad Garlinghouse appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

According to CNBC, Ripple Labs CEO Brad Garlinghouse stated at the World Economic Forum in Davos that the company will consider an IPO once the lawsuit with the Securities and Exchange Commission is resolved.

The SEC’s case against Ripple Labs has been ongoing for more than a year. It may be over by the end of 2022, according to Ripple Labs. As per Ripple’s CEO, once that happens, the company will seriously consider an IPO.

According to Garlinghouse, the corporation anticipates confidence and clarity surrounding the regulator in the United States. Overall, he has insisted on the United States enacting suitable rules for the blockchain and cryptocurrency industries. 

“But you know, we certainly are at a point in the scale, where that is a possibility. And we’ll look at that once we’re past this lawsuit with the SEC,” he said.

Last year, the CEO of Ripple’s major Japanese partner, SBI Group, projected that following the litigation, Ripple Labs would go public, claiming that Chris Larsen, a co-founder, and former CEO, wants it to happen. 

XRP Price Action 

XRP/USD is currently trading in a range of 0.32 percent lower than yesterday. The Ripple has been moving sideways over the previous few days. The bulls are now attempting to re-enter the market with a cross-over the 9-day moving average, which might lead to the $0.50 resistance level. 

The XRP price has been consolidating in the market, and the coin has witnessed a tiny dip in value, presently trading at $0.40. In the interim, before any breakout or breach of the channel, XRP/USD may continue to drift sideways. 

Furthermore, if the price breaks through the channel’s top border, resistance levels of $0.55, $0.65, and $0.70 could be tested. While the Relative Strength Index (14) is going below the 40-level, the market may be supported by $0.25 and $0.20 for a retrograde movement, and if the price falls below those levels, another support is at $0.15.