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Ripple‘s intentions to follow in the footsteps of Coinbase were thwarted by an impediment, but it was not deterred. The aforementioned impediment was created by the pending XRP SEC case. Aside from the obvious effect it had on the price of XRP (when the news broke), it did result in an increase in interest in Ripple. The same can be observed on the Google Trend chart.
XRP, at the time of writing, was trading at the $1.02 price level with a mere correction of 0.80% in the past 24 hours.
Will Ripple jump on Coinbase’s bandwagon?
Even as the litigation continues, the goal of launching an IPO remains the same. Speaking at Consensus 2021 conference, Ripple CEO Brad Garlinghouse had this to say about going public.
“The likelihood that Ripple is a public company is very high at some point, but being in the middle of an SEC lawsuit is a significant hurdle.”
He further added:
“It’s easier to do that after you have closure and clarity and that regulatory certainty we have been seeking for so long.”
Nonetheless, this was not the first time news of Ripple’s public offering made headlines.
SBI founder and CEO Yoshitaka Kitao hinted to the same four weeks ago, following Coinbase’s “successful” debut. During his company’s earnings call, Kitao stressed Ripple co-founder Chris Larsen’s ambition. According to him,
“After the current lawsuit, Ripple will go public… Chris wants the company to move in the same direction.”