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Wall Street Expert Convinced Ripple Will Go Public In May 2024: Can It Drive XRP Price To $10?

The murmurs in the crypto corridors have grown louder about the future of American fintech payments company Ripple Labs, which has been mired in a lawsuit with the U.S. Securities and Exchange Commission (SEC) since December 2020.

A Wall Street financial whiz has commented on the potential plans of Ripple to float an Initial Public Offering (IPO) in the coming year. Which begs the question: will the price of XRP hit $10 if Ripple conducts an IPO?

Ripple IPO Coming In May 2024?

Bestselling author and Wall Street expert Linda P. Jones has indicated that there may be a Ripple IPO next year.

Speaking during an interview with Linqto, Jones offered in-depth insights and expected dates for when Ripple might go public. She also shared her thoughts on the potential valuation of Ripple’s stock.

Ripple’s chief executive officer, Brad Garlinghouse, first floated the idea of going the IPO route back in 2020, when he indicated that the move would be “a natural evolution for our company.”

More recently, rumblings of Ripple going public started when the company posted a job listing for a Shareholder Communications Senior Manager. Notably,  the role and responsibilities listed for the potential candidate reflect the business practices of a public firm.

While Ripple has not formally declared its intention to go public as of now, Jones believes investor pressure might push the company’s executives towards this course. She elaborated, “Well, like I said, Ripple was founded in 2012, and I think their investors want the exit, and Brad [Garlinghouse] will get pressure to do that even though they don’t need the money from the IPO.”

In Jones’ opinion, Ripple could potentially launch its IPO on May 15, 2024. She noted that this would be an ideal time for the payments firm, explaining:

“I think there’s an opportunity if Ripple wants to go public next year, that mid-May would be an ideal time, right around May 15. That’s my first target that they might go public if everything — the stars, the Sun, and the Moon — lined up, and they wanted to go public. If it doesn’t happen, then I think it probably won’t happen until 2025.”

Could XRP Reach $10?

The Wall Street investment veteran’s forecast hinges on a wider economic outlook, envisioning a meteoric bull run buoyed by lowering inflation and interest rates, thus creating a favourable environment for public offerings.  

For some market participants, a Ripple IPO could lead to the company garnering more attention and legitimacy from institutional investors, banks, and the broader financial industry, which could be an indirect boon to the perception of XRP.

At press time, XRP is changing hands for $0.612 after a 1.4 percent rise on the day. If Ripple’s IPO is a success, XRP could easily reach the coveted $10 mark.

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