In a recent episode of Crypto Crossfire on Ben Armstrong’s crypto channel, experts had lively debate about what could drive XRP to an impressive $25. The hot topics were the upcoming XRP Exchange-Traded Fund (ETF) and the much-awaited Initial Public Offering (IPO) of Ripple, the company closely tied to XRP.
In this article, we delve into the arguments presented by the experts and explore the potential impact of these events on XRP’s price.
Clash of Titans: ETF vs. IPO
The discussion kicked off with AJ posing a key question: Which would impact XRP more—Ripple’s IPO or an XRP ETF?
AJ swiftly backed the ETF, stating his case with confidence. He noted the underwhelming performance of the Coinbase IPO, emphasizing the gap between its pre-IPO and launch day valuations. Coinbase currently sits at $26 billion, notably lower than its initial figures.
Drawing parallels to a potential Ripple IPO, AJ suggested that trading Ripple shares might not directly help XRP holders. Instead, he argued that an ETF, linked directly to XRP, could swiftly and significantly impact the digital asset’s price. Historical examples, like the Bitcoin Futures ETF causing price surges in October 2021, backed AJ’s argument. He concluded that, based on past trends, ETFs and related speculation could have more influence than an IPO.
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Ben Armstrong’s Argument
In contrast, Ben Armstrong presented a nuanced counterpoint. He raised concerns about the uncertainties surrounding a company’s IPO and its digital asset’s price in the crypto market.
Armstrong highlighted that the crypto landscape, especially for major coins like XRP, hasn’t fully felt the impact of such a significant event. Unlike traditional stock markets, crypto often sees immediate price fluctuations with IPOs.
Read More: Ripple Is Headed for an IPO: 3 Hints That Prove It
Arguing that IPO benefits go to the company and shareholders, who might cash in and cause a temporary stock drop, Ben contested AJ’s view. He maintained that Coinbase’s IPO was indeed successful.
Uphill Battle: XRP’s Quest for $25
Currently at $0.6468, XRP faces a significant climb to $25, needing a whopping 3,768% growth. Amid the ongoing debate about the controversial XRP ETF and Ripple’s IPO, the crypto community eagerly awaits which event will truly impact XRP’s price.
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