According to Eleanor Terrett, Ripple and its underwriters met Wall Street investors as they look to generate interest in a potential IPO.
An IPO On The Cards?&nbsp;
Several rumors suggest that Ripple may go the IPO route following the conclusion of its long-running lawsuit against the Securities and Exchange Commission. This became a topic of discussion on Twitter, where it was revealed that the company held a private roadshow event in April, during which company executives met Wall Street investors with the goal of generating interest for an IPO. Eleanor Terrett, Fox Business Journalist, picked up the news, tweeting,

&ldquo;In April, @Ripple hosted a private &ldquo;road show&rdquo; (a marketing event where a company and its underwriters meet with potential investors to generate interest in an IPO). I&rsquo;m told it was attended by just about every reputable institutional investment firm on the Street.&rdquo;

John Deaton, a pro crypto attorney, noted that Ripple could be in a relatively good position depending on the outcome of the summary judgment. Deaton believes that an outright win for Ripple or a mere slap on the wrist could show that ongoing and future sales of XRP are not securities.&nbsp;

&ldquo;If @Ripple wins the SEC lawsuit or gets the functional equivalent of a slap on the wrist, along with a ruling that ongoing and future sales of #XRP are not securities, the lawsuit will prove a blessing in disguise for Ripple.&rdquo;

Long Running Lawsuit Nearing The End
Deaton also commented on the potential outcome of the lawsuit, stating that there is a minimal chance (less than 3%) that the Securities and Exchange Commission can score an outright win against Ripple. Deaton has been a vocal supporter of Ripple&rsquo;s fight against the SEC, and was speaking during the June 3rd episode of the Good Morning Crypto podcast. Apart from his predictions about an outright Ripple victory, he also added that there was a 50% chance that Ripple could emerge victorious through a &ldquo;splitting the baby&rdquo; ruling. The last option is a reference to Judge Torress drawing a line in the sand, potentially ruling that XRP was offered as an unregistered security before 2018. However, following the Hinman documents, it could be possible that cryptocurrencies could make the transition from securities to commodities once they are sufficiently decentralized. Deaton added,&nbsp;

&ldquo;I think that XRP itself is going to be deemed not a security and that I think that secondary market sales show comment. Even if [Judge Torres] does rule finding that Ripple violated the law, that doesn&rsquo;t apply to secondary market sales.&rdquo;

Decision Before the 30th of September&nbsp;
Ripple&rsquo;s executives have been predicting an end to the lawsuit from the Securities and Exchange Commission for a while. Deaton also believes so and predicted that Judge Torres would likely make a final ruling before the 30th of September. He pointed to what he called a &ldquo;six-month list&rdquo; that district judges have to file before Congress and added that Judge Torres has never been on the list. The list contains details of all summary judgments that have been pending for longer than six months.&nbsp;
Deaton has also given his predictions about the price of XRP following a positive ruling, stating that the token&rsquo;s value could hover between $2 and $10. He also urged the Ripple community to mark the 13th of June, which is when investors would discover if XRP was the topic of discussion between the SEC staff before the Hinman speech. The Hinman files will be unsealed on the 13th and could dramatically impact the case.&nbsp;
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Potential Ripple IPO On The Cards?

Crypto Daily™

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