Ripple: XRP Comes Back Strongly After The Recent fall: But Why?
XRP has had a decent time of late over the past couple of weeks and on Friday it jumped by as much as 15% following a significant development.
The cryptocurrency is closely associated with the Ripple Labs network and this past week, its biggest shareholder stated that Ripple is looking to go public after its legal dispute with the United States Securities and Exchange Commission is wrapped up. The comment was made by Yoshitaka Kitao, who is the Chief Executive Officer of SBI Group, a Japanese financial firm.
SBI is the biggest shareholder in Ripple and the comment from Kitao seemed to have lit a fire in XRP. During the course of an SBI earning conference call, Kitao stated that the Chief Executive Officer of Ripple Brand Garlinghouse was looking to take the company public. Since the start of the year, XRP has been one of the major gainers in the market and has clocked gains of 650% so far.