SBI Holdings CEO Indicates Ripple's IPO Preparations Can Begin Once Its Legal Battle With the SEC Concludes

In the latest post on the X platform, SBI Holdings CEO Yoshitaka Kitao stated that the preparations for a Ripple IPO shall begin soon after the final settlement of the SEC lawsuit.

SBI Holdings begins preparations for Ripple IPO post-SEC lawsuit

SBI Holdings CEO Yoshitaka Kitao indicated that preparations for Ripple’s initial public offering (IPO) can begin once its legal battle with the US Securities and Exchange Commission (SEC) concludes.

In the latest post on the X platform, SBI Holdings CEO Yoshitaka Kitao stated that preparations for a Ripple IPO shall begin soon after the final settlement of the SEC lawsuit. Ripple has been planning for an initial public offering on Wall Street, however, the legal battle with the SEC has put the plans on hold.

However, the latest developments in the lawsuit show that things have been progressing further. Last month in October, the US SEC filed a notice of appeal in its ongoing legal battle with Ripple. But, legal analysts believe the SEC may ultimately withdraw its appeal, especially with a potential change in leadership at the agency on the horizon.

Recently, Ripple CEO Brad Garlinghouse clarified that pursuing an initial public offering (IPO) is not a “high priority” for the company. He highlighted Ripple’s strong financial position, stating that the firm doesn’t really need to raise funds through a public offering in its current financial standing. However, Garlinghouse did not completely dismiss the possibility of an IPO in the future.

Back in 2022, the Ripple CEO stated that they would start exploring the IPO soon after the conclusion of the lawsuit. Thus, an official word from the Ripple management put additional clarity and weight to this development.

As XRP fiyatı continues its rally, what’s next for Ripple’s crypto?

Ripple’s native cryptocurrency XRP XRP $1.14 24h volatility: 1.4% Market cap: $64.50 B Vol. 24h: $11.11 B has shown a strong upside over the weekend, shooting past $1 levels for the first time in three years. At press time, the XRP price is trading 5.04% up at $1.13 with its market cap shooting to $64.5 billion. Note that although this is still far away from the all-time high level of $3.84, analysts continue to stay bullish regarding the same.

XRP gained momentum last Thursday after 18 US states filed a lawsuit against the Securities and Exchange Commission and its commissioners, including Gary Gensler, alleging unconstitutional overreach in regulating the cryptocurrency industry.

Gary Gensler will be reportedly resigning before the Trump administration takes office in January 2025. With the new SEC chair in place, the XRP community sees this as a positive development for the altcoin.

On the other hand, the volatility in the futures trade has been pushing the XRP price upwards. On Sunday, the open interest in XRP/USD futures contracts reached a record 2 billion tokens, valued at nearly $2 billion based on current market prices. Despite the surge, traders showed a slight bias toward short positions, with 51% betting against further price increases for XRP.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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