XRP Community Expects Ripple Labs To Announce IPO At Dubai Event

Following Ripple Labs' landmark victory against the U.S. Securities and Exchange Commission (SEC), the blockchain firm behind the crypto asset XRP is expected to reveal it is going public, with the XRP community believing the announcement might happen at the upcoming Swell event in Dubai.

Ripple Swell is the flagship two-day event of the blockchain firm that centers on "discussions on topics that are most important to the finance industry today."

This year, the exclusive invitation-only Ripple Swell will be held at Madinat Jumeirah Conference Centre On Nov. 8 and Nov. 9. It promises to bring "together top-tier attendees, ensuring a powerful business impact."

But, what makes the entire XRP community excited about the event is the anticipation that Ripple Labs executives might announce that the company is going public at the event.

One of the prominent figures in the XRP community, who used the X handle @WKahneman, predicted that Ripple Swell might announce major developments, including "IPO, VARA license, CBDC, Stablecoin/tokenization, New users."

"This year's SWELL may be very significant. Don't know what might be announced, but there are possibilities: IPO, VARA license, CBDC, Stablecoin/tokenization New users(!) - after a year of silence, we may gain more detail if #Ripple still considers itself primarily a payment company," the tweet read.

Rumors about Ripple Labs planning an initial public offering (IPO) or offering its stocks to the public through a new stock issuance for the first time surged over the past weeks, particularly when a job listing for a shareholder communications senior manager across multiple locations inside and outside of the U.S. was posted by the company this month.

The job description said the company was looking for people who can develop "strategic plans and key messages for this audience including relevant company moments such as M&A, investments, liquidity events and other high-impact moments." Selected candidates will have to work "with the senior leadership, Product and Marketing teams to create and update investor materials, including presentations, fact sheets, case studies and analyses."

Despite the speculations surrounding Ripple Labs going public, the blockchain firm has not yet said anything related to the issue.

XRP was trading in the green zone at $0.5596 as of 5:36 a.m. ET on Monday, with a 24-hour trading volume up by 66.76% at $865,553,519 – representing a 1.30% increase in the last 24 hours and a 5.7% gain over the past seven days.

XRP's total circulating supply stands at 53,560,508,378 XRP, with its value up by 1.32% at a $29,963,262,166 market cap, according to data from CoinMarketCap.