Ripple whales have resurfaced in the market as a result of the recent market collapse. According to on-chain data provider Santiment, Ripple whales with 1 million to ten million XRP have been accumulating. According to the data supplier,
Ripple’s XRP cryptocurrency has been hit hard by the market downturn, having lost more than half of its value in just two months. XRP is the world’s sixth-largest cryptocurrency by market cap as of press time, valued at $0.40.
Ripple to Take a Look at a Public Listing
Ripple CEO Brad Garlinghouse is now in Davos, Switzerland for the World Economic Forum. Garlinhgouse said in an interview with CNBC that once their legal struggle with the Securities and Exchange Commission is over, they will look into the prospect of an initial public offering (IPO) (SEC).
The dispute has been going on for over 155 months. Ripple has been accused of selling unregistered securities and XRP tokens to the securities regulator. In court, however, It has vehemently defended its position of no wrongdoing. Many industry analysts predict that a settlement in Ripple’s favor will be this year. Ripple CEO Brad Garlinghouse says of the company’s aspirations to go public:
“I think we want to get certainty and clarity in the United States with the U.S. SEC.”
“You know, I’m hopeful that the SEC will not slow that process down any more than they already have.”
“But you know, we certainly are at a point in scale, where that is a possibility.”
“And we’ll look at that once we’re past this lawsuit with the SEC.”
Ripple continues to flourish in the international market despite regulatory challenges. The on-demand XRP liquidity for cross-border payments was $8 billion in Q1 2022. This was eight times the liquidity settlement for the same period the previous year.
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