Over the past year or so, XRP is probably one of the few major cryptocurrencies that have not enjoyed any meaningful gains, and much of the blame has been laid at the door of the fintech firm Ripple. The San Francisco-based company owns the highest number of XRP tokens.
Uncertainty in the Crypto Market
Currently, the uncertainty in the crypto market has beaten down the XRP price further. However, it is the possibility of an initial public offering from Ripple that has given rise to a fresh debate among analysts.
Earlier this year, the Chief Executive Officer of Ripple, Brad Garlinghouse, stated that there is a possibility that many crypto-based companies are going to have their IPOs. That resulted in a lot of speculation about an IPO from the company itself. Garlinghouse later said that he was merely talking about the possibilities but has not been thinking about an IPO this year.
Allen Scott, who is the head of markets at Cointelegraph, stated that an IPO from the company could prove to be an existential threat to XRP as a token. However, it should be noted that the possibility of an IPO is currently at a speculative stage.
XRP has been beset with a range of troubles in recent times, and in order to tackle that problem, Ripple has launched a portal. The portal is aimed at allowing XRP investors to report malicious activity. The move from the company came after it emerged that XRP-related scams have hit the market.
>> Ethereum-Built Soccer Game Pens Deal with Italian Giants Juventus
In addition to that, reports of fake XRP giveaways, token theft, and other financial crimes have come to the fore as well. Due to the presence of this portal, people can fill in a form that offers an exhaustive list of suspicious activities, which can be reported to the company. Ripple will investigate the matter but is not going to reimburse anyone with XRP tokens.
Featured image: DepositPhotos © rastudio
Credit: Source link