Following the lawsuit filed by the SEC (Securities and Exchange Commission), Ripple will go public, according to the CEO of SBI. Brad Garlinghouse, CEO of Ripple Labs, says he feels “very positive” about the progress made so far in court.
The SEC case of selling unregistered securities in the form of the XRP token was filed in December 2020 when Ripple Labs and its executives illegally sold $ 1.3 billion in XRP to buyers, according to the SEC. While XRP is a centralized cryptocurrency, the company offers benefits to the banking system. If the lawsuit produces a positive outcome for the company, the price will almost certainly go up.
The CEO of SBI Holdings has also shared his thoughts on the ongoing debate on whether or not XRP is a security, but the Japanese financial services agency has already stated that XRP is not a security. I believe Ripple will win the final decision in the United States. SBI Holdings is a long-time partner of Ripple and both companies look forward to joint expansion in Asia.
Ripple and SEC’s lawsuit
In January 2020, Brad Garlinghouse, CEO of Ripple, said his business would be “at the forefront” of the IPO boom in Davos. There will be IPOs in the crypto / blockchain domain in the next 12 months.
He said we won’t be first or last, but I expect us to be at the top. It is a natural development for our company. However, these plans are most likely inactive. Although Coinbase’s stock is already listed on the Nasdaq, Ripple is currently in litigation with the Securities and Exchange Commission.
Ripple’s largest outside shareholder, classified as a cryptocurrency in Japan, has long been a supporter of XRP. Kitao had already stated in December that Ripple’s legal problems in the US would have little impact on the company’s global operations.
XRP is rank 4 cryptocurrency. At the time of writing, the value is $ 1.40 with a 3.76% change. In the 24 hours the trading volume is 8,035,907,958 USD. Additionally, the market cap of the coin is $ 63,145,964,031. The maximum offer is 100,000,000,000 with a total offer of 99,990,831,162 and a circulating offer of 45,404,028,640 XRP.
According to the CEO of SBI, it is very clear that the ripple will have the bullish trend when the SEC lawsuit ends. If the lawsuit produces a positive outcome for the company, the price will almost certainly go up.