As Ripple Swell 2023 approaches, scheduled for November 8-9 in Dubai, the XRP community is abuzz with predictions and speculations. This annual event serves as a meeting point for the brightest minds across crypto, blockchain, payments, and economic policy, and it is expected to be particularly significant this year, with several key announcements on the horizon.
One of the most anticipated revelations at Ripple Swell 2023 is the potential announcement of an initial public offering (IPO). Ripple, the company behind XRP, has been facing a legal battle with the US Securities and Exchange Commission (SEC), which has been a major roadblock to its public offering plans. However, recent victories for Ripple have changed the situation, and an IPO announcement at the event is now highly anticipated.
Community members have been discussing the possibility of an IPO, with AgentSmith stating that Ripple can proceed with the IPO regardless of the ongoing legal proceedings with the SEC. Precedent from Coinbase’s IPO suggests that Ripple simply needs to ensure the paperwork is in order. This sentiment was echoed by prominent XRP community member Wrathof Kahneman, who emphasized that the SEC case is now in the rearview mirror and the focus should be on the potential IPO.
Speculation is also rife regarding Ripple’s application for a Virtual Assets Regulatory Authority (VARA) license in the United Arab Emirates (UAE). The presence of Henson Orser, CEO of VARA, at the event, along with Ripple CEO Brad Garlinghouse’s previous statement about expanding in Dubai, indicates the significance of this development. If Ripple successfully acquires the VARA license, it could mark the beginning of a swift and robust expansion phase for the company in the UAE.
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Another area of focus at Ripple Swell 2023 could be central bank digital currencies (CBDCs) and the broader realm of stablecoin and tokenization. The global shift toward CBDCs and Ripple’s strong focus on this line of business suggests that the conference may provide insights into Ripple’s position and potential collaborations in this evolving landscape.
In addition to these potential announcements, Luke Thomas, an XRP community member, predicts that the Ripple-SEC case will be settled with an announcement of the settlement happening at Ripple Swell. He speculates that Ripple will pay somewhere between $300 to $500 million to the SEC to resolve the case.
The impact of these announcements on the XRP price is also a subject of interest. While Ripple Swell may not be widely advertised, historical trends suggest that the XRP price tends to experience some movement in anticipation of the event. Therefore, the XRP community is closely monitoring the conference and its potential effects on the market.
At the time of writing, XRP is trading at $0.5519, but the market dynamics are expected to change in response to the announcements and discussions at Ripple Swell 2023.
In conclusion, Ripple Swell 2023 is shaping up to be a significant event for the XRP community. The potential IPO announcement, VARA license application, discussions on CBDCs and stablecoin/tokenization, and a potential settlement in the Ripple-SEC case highlight the importance of this conference. The XRP community eagerly awaits these announcements and their potential impact on the market.
