Skepticism towards U.S. regulatory approval is driving Ripple’s consideration of an overseas IPO, according to recent reports. Ripple CEO Brad Garlinghouse suggested during a CoinDesk-hosted interview at the 2024 Consensus conference that it doesn’t make sense for the company to go public in the United States. He expressed doubts about obtaining an IPO approval from U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. Garlinghouse praised Lynn Martin, president of the New York Stock Exchange, for her openness to blockchain-related businesses like Ripple, contrasting her progressive stance with Gensler’s less favorable view. Garlinghouse concluded that, under current circumstances, it would be foolish for Ripple to consider a U.S. IPO. In response to these developments, blockchain researcher Collin Brown predicted a significant surge in XRP’s price once Ripple goes public. At the time of writing, XRP’s value was approximately $0.5147, representing a 1.08% decrease in the last 24 hours and a bearish position of 3.93% over the past week. Garlinghouse has previously emphasized the inevitability and importance of an XRP ETF for cryptocurrency adoption.
