Ripple is hosting The Proper Party next week in New York to celebrate its victory against the SEC, with speculation about potential XRP token value revelations and the possibility of an IPO announcement.
Wall Street veteran Linda P. Jones suggests that Ripple, with its substantial XRP reserves and potential IPO plans, could be significantly undervalued.
Next week, San Francisco-based blockchain startup Ripple will be conducting The Proper Party which will happen at the New York’s iconic Hammerstein Ballroom, on September 28.
Ripple has hosted this party in order to celebrate its victory against the SEC after the court order in July 2023. There’s been a lot of rumors that the party will actually unveil the correct value of Ripple XRP token. However, there’s no surety regarding the same, but some analysts believe that Ripple could be heading for an IPO before the year’s end.
Beyond the joyful celebrations and toasts, Ripple’s triumph holds a more profound significance in the cryptocurrency realm. The court’s verdict, confirming XRP’s non-security status, might establish a precedent for the future regulation of cryptocurrencies. Such a victory gains utmost importance amidst increased attention from traditional financial systems, governments, and institutional investors towards the cryptocurrency ecosystem.
Is Ripple IPO Possible Before Year-End?
As the countdown to Ripple’s celebratory event in NYC continues, the industry is buzzing with anticipation regarding potential announcements. One of the most intriguing speculations revolves around whether Ripple will seize this moment to unveil plans for an Initial Public Offering (IPO), particularly now that some of its legal uncertainties have dissipated. Could this announcement serve as the catalyst to propel XRP prices to $1 or even higher?
Linda P. Jones, a distinguished Wall Street veteran boasting a 25-year tenure in the financial sector, has provided valuable insights into the potential outcomes of an impending Initial Public Offering (IPO) following the significant legal victory in the SEC lawsuit.
Earlier this year, Jones engaged in a preliminary estimation of Ripple’s stock value. According to data from Linqto, Ripple’s shares are presently priced at $35, which translates to an astonishing valuation of $5.7 billion. It’s worth noting that the Linqto platform enables investors to acquire pre-IPO shares of a company.
Jones has brought attention to Ripple’s substantial XRP reserves, which currently amount to 42 billion XRP tokens held in escrow. At the current XRP price of $0.50, these holdings are valued at approximately $21 billion. Remarkably, this valuation of XRP tokens significantly surpasses Ripple’s existing market value, indicating that the company may be substantially undervalued.
Comparing Ripple IP to Coinbase’s
To support her theory, Jones drew parallels with the successful IPO of the United States’ largest cryptocurrency exchange, Coinbase. Shortly after going public, Coinbase witnessed a remarkable surge in valuation, reaching as high as $86 billion.
Jones speculated that if Ripple were to achieve a similar valuation of $86 billion, on par with Coinbase, and considering its $21 billion XRP holdings, the combined valuation could potentially reach an impressive $107 billion, nearly 20 times its present market value.
Jones also contemplated the possibility of XRP’s price returning to its all-time high of $3.60. In this scenario, the company’s valuation could skyrocket to $126 billion.
Drawing parallels with esteemed companies like Nvidia, Apple, and Amazon, which have attained valuations in the trillions and billions, Jones reasoned that Ripple’s alignment with prominent enterprises and its inherent potential could potentially lead to a valuation of half a trillion dollars. Consequently, she concluded that investing in Ripple stock holds considerable appeal, offering the potential for a substantial 20-fold increase.
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