Cryptocurrency

Financial Expert Believes Ripple Share Could Reach $600, Sparking Potential Impart on XRP Price

The partial victory over the SEC has reignited discussion about the emergence of Ripple’s Initial Public Offering (IPO). Rumors have been flying around about experts anticipating Ripple’s share price to reach more than $600, representing a 20x surge in valuation. These predictions have also sparked speculation on the impact of the potential IPO on the price of the digital token XRP.

The Impending Announcement

In July, Judge Analisa Torres’s pivotal ruling clarified that secondary sales of XRP tokens should not be considered investment contracts, thus exempting them from being classified as securities under the SEC’s regulations. This legal clarity significantly boosted XRP’s price and trading volume.

Cryptocurrency exchanges that had previously delisted XRP due to regulatory concerns quickly relisted the token after the ruling, increasing its market presence in the process.

The crypto world has its fingers crossed in anticipation of the announcements coming at the Ripple victory party on September 29.

Although the party’s purpose is to celebrate the notable victory, the community is looking toward an IPO announcement as one legal expert believes this could be one of only two paths to success for XRP.

With the IPO announcement around the corner, some people are seeing this as the investment opportunity of a lifetime. The announcement was confirmed by Ripple’s Chief Technology Officer (CTO) David Schwartz with two other announcements.

How High Could Ripple’s Share Price Rise?

In an interview from May, Linda P. Jones, an experienced Wall Street analyst, drew comparisons between Ripple and Coinbase’s IPO journeys, suggesting that Ripple could follow or even surpass Coinbase’s trajectory.

She pointed out Ripple’s substantial XRP reserves, totaling 42 billion tokens held in escrow, currently valued at $21 billion, based on XRP’s price hovering around $0.50. This valuation is four times Ripple’s current market value, indicating that the company is grossly undervalued.

After Coinbase went public, its valuation soared to $86 billion. Jones speculated that if Ripple achieved a similar valuation of $86 billion, combined with its $21 billion XRP holdings, the total valuation could reach an impressive $107 billion, nearly 20 times its current market value.

Jones also considered the scenario where XRP’s price surges back to its all-time high. In this case, Ripple’s valuation could reach $126 billion. She compared Ripple to tech giants like Nvidia, Apple, and Amazon, which have achieved valuations in the trillions and billions.

Jones argued that a valuation of half a trillion dollars for Ripple could be within reach. She concluded that investing in Ripple stock appears promising, with the potential for a 20-fold increase. With the damage the lawsuit has caused XRP, it will be interesting to see how well it bounces back after an IPO.


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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

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