Ripple IPO: boom or bust for XRP?
By William Suberg
In the face of flagging XRP prices, the impetus behind a major fundraising event is clear for commentators, but whether it would reverse the token’s fortunes is not at all clear.
“Though Ripple is making inroads, it is yet to disrupt the global money transfer system in a major way,” regular Cointelegraph contributor and analyst Rakesh Upadhyay said. “Initially, after the IPO, the market participants might be patient but they will soon seek results. When the results don't come through, it will hurt prices.”
For Upadhyay, Ripple’s lack of progress despite its various deals with major banks and other businesses means harder times are still to come.
A telltale sign that liquidity remains problematic is Ripple’s mass selloffs of XRP. As Cointelegraph reported, these were bigger in 2019 than ever before. Even the IPO announcement failed to move XRP/USD significantly higher.
Read The Whole Story on Cointelegraph
Blockchain payment network Ripple launching an initial public offering (IPO) could, in fact, devalue the cryptocurrency in which it holds a majority stake.
According
to several market participants interviewed by Cointelegraph over the
weekend, Ripple going public has potential implications for the fate of
altcoin XRP. Ripple IPO: boom or bust for XRP?
The company’s CEO, Brad Garlinghouse, last week hinted an IPO may occur within the next year.
In the face of flagging XRP prices, the impetus behind a major fundraising event is clear for commentators, but whether it would reverse the token’s fortunes is not at all clear.
“Though Ripple is making inroads, it is yet to disrupt the global money transfer system in a major way,” regular Cointelegraph contributor and analyst Rakesh Upadhyay said. “Initially, after the IPO, the market participants might be patient but they will soon seek results. When the results don't come through, it will hurt prices.”
For Upadhyay, Ripple’s lack of progress despite its various deals with major banks and other businesses means harder times are still to come.
A telltale sign that liquidity remains problematic is Ripple’s mass selloffs of XRP. As Cointelegraph reported, these were bigger in 2019 than ever before. Even the IPO announcement failed to move XRP/USD significantly higher.
Read The Whole Story on Cointelegraph
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