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Here’s What XRP Will Cost If Ripple Stock Hits $1,000 As Garlinghouse Confirms $1.4 Billion Stock Buyback
XRP price could hit new highs if Ripple stock hits $1,000 as Ripple CEO Brad Garlinghouse confirms the company’s $1.4 billion stock buyback.
As recently reported According to The Crypto Basic, Garlinghouse revealed this during a speech at the recently concluded Fortune Brainstorm Tech conference in Park City. However, during the interview, the Ripple CEO stressed that an IPO may not happen anytime soon.
Ripple CEO Confirms $1.4 Billion Share Buyback
Garlinghouse cited the US SEC’s aggressive stance against the cryptocurrency industry as a factor in the delay. The ongoing lawsuit between Ripple and the SEC is also playing a crucial role. According to Garlinghouse, it is not very popular within the securities agency.
Despite the delay, Ripple’s actions confirm that the company still intends to go public. The upcoming US presidential elections could significantly influence this event. In particular, a change in the current government is capable of forcing a change in the regulatory approach to cryptocurrencies in the United States, potentially creating a favorable atmosphere.
One of Ripple’s actions that points to a bullish future is its persistent share buybacks. The company has continued to buy back its shares from investors and employees, Garlinghouse confirmed. In January, The Crypto Basic revealed that Ripple had bought back $285 million worth of shares.
Speaking to Fortune, Garlinghouse note According to him, the company is currently in the process of a public tender offer. According to him, at the close of this public tender offer, Ripple would have repurchased $1.4 billion of its shares. This confirms the bullish sentiment of the company regarding its future in IPO.
XRP Price If Ripple Stock Hits $1,000
Currently, data According to investment platform Linqto, Ripple stock is currently selling at $40.99 for pre-IPO investors. Several market commentators have predicted that this figure could see a substantial increase post-IPO. Zach Rector, XRP community personality argued that Ripple’s IPO could be one of the biggest in recent times.
If these bullish projections materialize and Ripple shares reach high price targets such as $1,000, it could have a positive impact on the price of XRP. A surge from $40.99 to $1,000 would require a massive 24.396x increase. If XRP records a comparative surge, its price could surge from the current figure of $0.5997 to a new ATH of $14.63.
At this rate of growth, a $5,000 investment in XRP at the current price could climb to $121,970. However, this valuation is based on several factors that may not play out perfectly. For example, there is no guarantee that Ripple’s stock will reach $1,000. Furthermore, it is unclear how the price of XRP would react if that happened. Therefore, investors should not take this as investment advice.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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