2023-10-17 19:00 |
The Ripple Initial Public Offering (IPO) rumors continue to wax stronger as many expect that the event will push the XRP price upward. Back then, it was mostly just rumors and speculation, but the XRP community has gotten their hands on a Ripple job listing that suggests there might be some truth to the IPO rumors.
Ripple Is Looking For A Shareholder Communications ManagerIn a listing that was shared by multiple influencers in the XRP community, Ripple looks to be on the hunt for a Shareholder Communications Senior Manager. Now, according to the job listing requirements, whoever is accepted for this role will be expected to basically work with multiple teams at Ripple and maintain communications between ‘prospective shareholders and investors.’
Also, the individual will be “managing a shareholder database/mailing list and investor/analyst communication database.” Given this description, many in the community have taken it as a sign that Ripple is hiring in preparation for a potential IPO.
Some of the job descriptions also coincide with things and events that tend to take place in companies that have undergone the IPO process. One example pointed out in this Bitcoinist report is the Annual Analyst Day expected to the carried out by the Shareholder Communications Senior Manager. This is an event that is done by publicly traded companies.
The expectations of a Ripple IPO go as far back as 2020 when its Chief Executive Officer (CEO) Brad Garlinghouse first talked about initial public offerings in crypto. Back then, Garlinghouse had said that “you’ll see initial public offerings in the crypto/blockchain space” in the next 12 months. He wasn’t far off as Coinbase would become the first crypto exchange to go public the next year on April 14, 2021.
What Happens To XRP Price Is There Is An IPO?The impact of a potential Ripple IPO on the XRP price has been discussed at length, especially in the second half of this year. One of the very first mentions of this was by financial expert Linda Jones who talked at length about how valuable Ripple would be if there were an IPO.
Using the XRP market cap, Jones explained that at $35 a share, Ripple would be valued at $5.7 billion which is much lower than XRP’s $21 billion valuation. So the financial expert explained that Ripple’s valuation would be a lot higher. Eventually, she arrived at a $107 billion valuation which would mean Ripple stock would trade at a price of $600. Using XRP’s correlation to Ripple’s development, this could easily see the XRP price surge above $100.
Crypto influencer Ben Armstrong aka BitBoy also shared his thoughts on what would happen to the XRP price in the event of an IPO. The influencer said back in July that he expects the XRP price to reach as high as $35 if Ripple were to undergo such a situation.
While there is no confirmation from Ripple on this news, the consensus remains that such a move would be bullish for the XRP price.
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