The CEO of Ripple, Brad Garlinghouse, has pretty much confirmed in an interview that the company can go public in the next 12 months. Garlinghouse told the Wall Street Journal in Davos at the World Economic Forum that IPO (initial public offering) is a natural evolution for Ripple.
He said that IPOs are going to be there in the crypto/blockchain space in the next 12 months. To which he added that they are neither going to be the first nor the last but at least on the leading side. He believes that it is a natural evolution for their company.
Ripple raised $200 million last month in Series C funding, which can be seen as the final step before IPO. According to Crunchbase, the company has raised $293.6 million in funding. Now that the company is going public, it remains to be seen how much would it raise in an IPO.
Ripple Sales Dropped By 80% In Q4
Earlier this week, the market value of XRP has seen to be declined by 22%, particularly during Q4. The company reported XRP’s sales figures for the fourth quarter and saw an 80% decline as compared to the previous quarters. This was the result of pausing the programmatic sale and the massive drop in the direct institutional sales. The total sales in quarter three were $66.24 million worth which then decreased to $13.08 million in quarter four. It was the lowest Q4 sales figures in the last three years.
Decline In The Sales Of XRP In 2019
Last year was undoubtedly horrible for XRP as the sales fell over 47%. After continuous token manipulation, the investors are infuriated to the degree that community leaders even suggested a hard fork.
As crypto markets are calm nowadays, Ripple (XRP) is again in the red with 4% dumping on the day to $0.22. The thing is that if the proposal of IPO hasn’t lifted the token prices yet, are there any expectations in the long term?