TL;DR
In all fairness, the speculation around a potential initial public offering for Ripple has been running rampant for quite a while now, and, at the time of this writing, there’s no official confirmation whatsoever that it’s even planned.
This hasn’t stopped the community from looking for any tiny bit of information that tips the scales in this direction, albeit ever so slightly.
Yesterday, as CryptoPotato reported, yet another conspiracy saw the light of day following a recent job post from Ripple. Apparently, the company is looking to hire a Shareholder Communications Senior Manager. Many X (Twitter) members assumed this could be the very first step before filing for an IPO.
This gave birth to yet another question – can XRP’s price reach $10 in the event of a Ripple IPO?
Before we continue, and while we’re still on the topic of XRP price predictions, feel free to check out the XRP price outlook for Q4 of 2023 in our most recent video:
It’s something that’s been on the minds of many people ever since the Ripple IPO rumors started circulating. We decided to poke the artificial brains of ChatGPT about it.
The AI thinks that the implications of an IPO can be both good and bad for XRP’s price, so let’s unpack.
On one hand, the positives, according to ChatGPT, include the fact that a successful IPO will increase Ripple’s legitimacy:
An IPO could lead to Ripple receiving more attention and legitimacy from institutional investors, banks, and the broader financial industry. This can indirectly benefit the perception of XRP.
Additionally, Ripple would raise significant capital, which could be used to expand their broader services, research, and development (R&D), or to promote the adoption of the XRP ledger.
On the flip side, though, it could also dilute Ripple’s focus, where the company uses the funds to invest in areas that are not necessarily beneficial for XRP.
The truth is that we don’t have anything comparable happening in the relatively nascent cryptocurrency industry. The only cryptocurrency-focused company that went through a major IPO (in the US) was Coinbase, and they don’t have a coin. The performance of their stocks was majorly impressive at the start but cratered as soon as the market tanked.
While XRP hitting $10 might not be that unrealistic in a raging bull market and Ripple going through a successful IPO, it’s also important to note that its price will likely be correlated with the performance of the market.
