Talks about a Ripple Initial Public Offering (IPO) have continued to reverberate around the crypto community. This time, crypto expert Zach Rector has highlighted how successful that event could be if Ripple becomes a publicly traded company.
Can Ripple’s IPO Become The “Biggest Ever”?
In a video posted on his YouTube channel, Rector posed a question to his audience on whether Ripple’s IPO could become the biggest ever. He noted how Ripple will have to surpass the $25.6 billion mark, which happens to be the amount Saudi Aramco raised on its way to becoming the largest IPO ever.
Rector, however, seemed confident that Ripple could achieve this as he mentioned how Ripple’s XRP holdings alone are worth more than that. Specifically, he referred to the escrowed funds, which he noted could play a big role in Ripple’s valuation, supposing those tokens haven’t been pre-allocated.
He further elaborated on how Ripple had an advantage in comparison to companies like Saudi Aramco and Alibaba, which boast the largest IPO in the US. Ripple is in a “unique position” considering that it is sitting on a “war chest of XRP” while also boasting a business that is flourishing, Rector said.
The crypto expert also highlighted the hype around Ripple and the caliber of its team as other reasons why he believed a Ripple IPO could become one of the biggest (if not the biggest) in the United States. Rector remarked that Ripple was an “incredible company with an Allstar team,” with no other company in the crypto space coming close to it.
Ripple Is Indeed Flourishing
Rector went on to highlight recent developments that suggest Ripple’s business is thriving and that they have the prerequisites to land a huge IPO event. He mentioned how Polygon Labs had just laid off a significant percentage of its workforce. Meanwhile, Ripple is “still hiring, still producing cash, and business partnerships still growing.”
The crypto expert also hinted at how liquid Ripple looks to be, alleging that the crypto firm was currently sitting “on a billion cash.” He also alluded to how easily Ripple was able to shell out $285 million to buy back some of its shares.
Rector then went on to speak about how Ripple is about to put the SEC’s lawsuit behind it and how that will put the company in a “whole new light.” He further claimed that Ripple would become the “darling of Wall Street” after they beat the Commission, with everybody on Wall Street wanting to be associated with the crypto firm once that happens.
Token price sitting at $0.5 | Source: XRPUSD on Tradingview.com
Featured image from Crypto Briefing, chart from Tradingview.com
Source: https://bitcoinist.com/ripple-biggest-ipo-ever/