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- A panel of analysts debated the potential catalysts for a sustained surge in XRP value to $25.
- Panelist AJ argued that an XRP ETF could have a more significant impact than a Ripple IPO.
- Ben Armstrong countered that there is no clear precedent for the consequences of a company’s IPO on the associated crypto asset.
Recently, a team of crypto analysts debated the force that has a more defining impact on XRP, capable of sending XRP by 3,776% to $25. The debate happened during a new episode of Crypto Crossfire featured on Ben Armstrong’s channel.
The panelists were comprised of Ben Armstrong, AJ, and a moderator. Specifically, they delved into the potential bullish triggers for XRP, examining two potential events: an XRP exchange-traded fund (ETF) or a Ripple initial public offering (IPO). Armstrong and AJ argued whether an XRP ETF or the eventual IPO of Ripple could serve as catalysts for an XRP sustained surge to $25.
XRP MOON SCENARIO (Ripple’s Best Crypto Route to $25!) https://t.co/uvTA9Ebbi7— Ben Armstrong (@BenArmstrongsX) November 15, 2023
AJ opened the floor, expressing his preference for an XRP ETF, claiming it wields more influence. To support his viewpoint, he drew parallels with the Coinbase (NASDAQ:COIN) IPO.
He argued that Coinbase’s initial public offering was pretty lifeless, highlighting a notable gap between its pre-IPO valuation and the valuation on the day of the IPO launch. AJ also pointed out that, although Coinbase’s initial valuation surged, the company has since experienced a significant decline.
Furthermore, AJ drew a parallel to the potential IPO of Ripple. He claimed there is an indirect relationship between Ripple’s valuation and the price of XRP. Emphatically, he noted that trading Ripple’s shares has no direct benefit for XRP.
In contrast, AJ highlighted the direct impact an ETF could have on the price of XRP. He provided historical examples, citing the Bitcoin Futures ETF. AJ stated the ETF speculation led to heightened value for Bitcoin in 2021, playing a role in the broader bull run of the year.
However, Ben Armstrong presented a counter-perspective, highlighting uncertainties regarding the correlation between an IPO and XRP’s price. Armstrong underscored that the crypto landscape lacks a clear precedent for the consequences of a company’s IPO on the associated crypto asset.
Armstrong disagreed with AJ’s analogy of Coinbase’s IPO. He believes that since Coinbase has no associated crypto, it is a faulty argument to link such a case with Ripple, which has a digital asset, XRP, closely associated with it.
Notably, with XRP trading at $0.6456 at the time of writing, achieving a value of $25 would necessitate a staggering percentage growth of at least 3,776%.
The post What Can Trigger XRP to Surge 3,776% to $25: XRP ETF or Ripple IPO? appeared first on Coin Edition.