XRP Surged Above $1.20, Marking an 87% Weekly Gain and Hitting a Three-Year High

The rally gained momentum after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overreaching in its regulation

As XRP price soared above $1.20 this weekend, notching an 87% weekly gain and hitting a three-year high, the rally gained steam after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overstepping in its regulation of the crypto industry. This development also reignited discussions around Ripple’s potential Initial Public Offering (IPO).

With Trump’s win, several speculations are circulating, including the dismissal of the Ripple vs SEC case, an IPO, and the launch of a Stablecoin. Given the easing regulatory climate, there's a possibility that Ripple may announce an IPO soon to capitalize on the current bull run.

SBI CEO Pushes for Ripple’s IPO

Yoshitaka Kitao, the CEO of SBI Holdings, has urged Ripple to begin preparing for an IPO "as soon as possible" following the conclusion of its legal battle with the SEC. Ripple has been embroiled in a protracted lawsuit with the SEC, which recently filed an appeal in October. However, many analysts speculate that the SEC’s internal shake-ups could lead to the appeal being dropped, paving the way for Ripple to pursue a public offering.

Ripple CEO Brad Garlinghouse has maintained that an IPO is not a "high priority" at the moment, though he hasn't ruled it out completely. Earlier in 2022, he stated that Ripple would consider going public after resolving the SEC lawsuit. While Ripple's financial stability lessens the immediate need for an IPO, Garlinghouse had previously envisioned the company going public within a year, a timeline that was disrupted by the ongoing legal challenges.

Amid XRP's price rally, Ripple co-founder Arthur Britto transferred 80 million XRP tokens, with 10 million of those heading to Binance. This movement has sparked speculation within the community regarding Ripple's下一步计划, with some speculating that the company could be inching closer to an IPO.

As the discussion of an IPO gains momentum, Ripple appears to be in a "wait-and-see" approach. The company's past plans for an IPO were derailed by the SEC lawsuit, but recent legal and market developments could bring the idea back into focus. If regulatory hurdles continue to ease, Ripple's IPO would mark a historic shift in the company's trajectory, offering investors a new path to engage with the blockchain leader.

In the meantime, XRP price surged by 25% today, approaching a local resistance level at $1.0739. If buyers maintain momentum, a breakout could push the price to $1.10 and potentially into the $1.15-$1.20 range next week. However, if the weekly candle closes far from this resistance, a correction to the $0.90-$0.95 zone may occur. At press time, XRP trades at $1.0522.

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