XRP Army speculates Ripple’s 2024 IPO prospects, while Dizercapital founder Yassin Mobarak disagrees, quoting statements from Ripple CEO.
Recently, speculation has been rife within the XRP community regarding the timing of Ripple’s potential move to become a publicly traded company. Many supporters have pinpointed 2024 as the perfect moment for Ripple to launch an initial public offering (IPO).
They argue that 2024 holds special significance as it’s considered a “dragon year,” drawing parallels to 2012 when both Ripple and XRP came into existence. Some have even drawn comparisons to Facebook’s IPO, which also occurred in a dragon year.
However, a prominent figure within the XRP community has raised doubts about these optimistic predictions. In particular, Yassin Mobarak, the Founder of Dizercapital, took to the X platform to counter the popular projections. Mobarak expressed disbelief in the view that a Ripple IPO would materialize this year or early 2024.
I see some tweets claiming @Ripple will IPO this year or early in 2024. I do not believe that is correct.
I attended the CoinAlts 2023 Symposium in San Francisco on October 26th 2023 in which @bgarlinghouse had a fireside chat with @_JackMcDonald_ . I asked Brad directly about…
— Yassin Mobarak ? (@Dizer_YM) November 4, 2023
Why Ripple IPO Cannot Happen this Year or in 2024
Notably, Mobarak refuted claims that Ripple would IPO this year or early in 2024 based on a recent direct interaction with Ripple’s Chief Executive Officer, Brad Garlinghouse.
The Dizercapital founder highlighted that he attended the CoinAlts 2023 symposium, which took place in San Francisco on October 26. He noted that Garlinghouse participated in a fireside chat with Jack McDonald, CEO of PolySign Inc.
Mobarak disclosed that he seized the opportunity to inquire about any new developments from Garlinghouse regarding Ripple’s IPO status.
In response, Garlinghouse clarified that for Ripple to proceed with an IPO, the U.S. Securities and Exchange Commission (SEC) must approve Ripple’s S-1 registration statement. Notably, the SEC requires domestic issuers to file a Form S-1 to offer new securities publicly.Â
However, with the ongoing legal dispute between the SEC and Ripple, Garlinghouse noted such approval is not feasible. Furthermore, the Ripple CEO mentioned that while there are possibilities for a liquidity event outside the United States, no specific timeline has been established for such an event.
Based on this information, Mobarak advised the XRP community to moderate their expectations concerning Ripple’s IPO ambitions.
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