- XRP investors are gearing up for a major announcement on September 29th with the altcoin possibly recording similar gains to post-SEC victory.
- If Ripple announces an IPO, Market experts believe the company’s valuation could be 20 times higher.
XRP investors and Ripple proponents are gearing up for a major announcement during the victory party on September 29. Experts predict that the company will announce plans for an IPO and/or possibly a settlement with the SEC. In the possibility of an IPO, experts believe the company’s valuation could soar by 20 times. In addition, XRP investors are confident that the digital asset will rally to new highs leading up to and after the party.
Read More: Ripple (XRP) IPO Expected to Surpass 20x Valuation, Propelling Price to $600 per Share – Rumors Suggest Company Held Private Meetings with Every Reputable Institutional Investment Firm
Interestingly, XRP rival Stellar Lumens (XLM) could also be gearing up for gains based on the upcoming announcement. This assertion is based on its performance from XRP’s win in the SEC vs. Ripple lawsuit a few months ago. At the time, XLM enjoyed passive gains, rallying by more than 100 percent. A payment processor akin to Ripple, when the judge declared that XRP was not a security, it further implied that XLM would not be subject to any scrutiny from the SEC. Stellar has since observed increased investor interest.
The upcoming Ripple party could lead to a similar price pattern. Ahead of the event now just a few days away, XLM could witness gains driven by speculation, however, these gains might not be sustainable.
In the event that Ripple announces IPO plans, many in the community are likely to speculate that Stellar will follow the same direction. But unlike Ripple whose executives have hinted at a possible IPO in the past, Stellar has made no suggestions of such plans.
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— Collin Brown (@CollinBrownXRP) September 22, 2023
As XRP marks a 3 percent rise in the last 7 days, XLM has recorded a 4 percent drop in the same time. Experts warn that the drop is a result of the September 12th reveal in which the project promised a major announcement. This turned into a classic ‘Buy the Rumors, Sell the News’ scenario with the project announcing the creation of a new website for XLM on the date. An underwhelming development, speculators could be cashing out gained profits, leaving the digital asset in the red zone.
At the time of press, XLM is exchanging for $0.1145 after a marginal change of less than 1 percent in the last 24 hours. XRP on the other hand is up by a little under 1 percent and is trading for $0.52.
In the long term, Stellar remains one of the most promising projects recently becoming a member of the WEF’s Humanitarian and Resilience Investing (HRI) Initiative. Furthermore, Stellar Lumens’ (XLM) testnet upgrade was launched on September 20, introducing significant ecosystem enhancements.
Read More: Ripple (XRP) Rival Stellar (XLM) to Unveil Protocol 20 Upgrade with Significant Ecosystem Enhancements
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