Ripple, the company behind the XRP altcoin, is reportedly preparing for an initial public offering (IPO) after hosting a private road show in April.
Road show is a common practice for companies planning to go public, so they can present their business model and vision to potential investors and generate interest in their shares. Ripple's road show shows that the company has confidence in its prospects and is ready to take the next step in its growth.
Ripple's IPO plans had been in the works for some time, but were put on hold after the US Securities and Exchange Commission (SEC) filed a lawsuit against the company in December 2020 for allegedly selling XRP as an unregistered security. The legal battle has been going on ever since, with both parties sharing motions and arguments in court.
However, Ripple's CEO, Brad Garlinghouse, has previously stated that once the lawsuit is settled, the company may go public regardless of the outcome. In a recent interview with CNBC, he said that he expects the case to be settled by the end of this year and is optimistic about Ripple's chances of winning.
Ripple's IPO could be a major milestone for the cryptocurrency industry as it will be one of the first major blockchain companies to go public in the US. It could also increase the adoption and legitimacy of XRP, currently the seventh largest cryptocurrency by market cap.
*Not investment advice.