The XRP community anticipates significant announcements at Ripple Swell 2023, including IPO, VARA license, CBDC, stablecoin/tokenization, and a Ripple-SEC settlement.
Key Takeaways
- Ripple Swell 2023 set for November 8-9 in Dubai sparks excitement in the XRP community.
- Anticipated announcements include a potential IPO, VARA license, CBDC involvement, and more.
- Ripple’s legal battle with the SEC appears to be diminishing in significance.
- The XRP community closely watches for potential impact on XRP price.
As Ripple Swell 2023 approaches, scheduled for November 8-9 in Dubai, the XRP community is abuzz with predictions and speculations. This annual event, a nexus for the brightest minds across crypto, blockchain, payments, and economic policy, is expected to be particularly significant this year, with several key announcements on the horizon.
Renowned XRP community member Wrathof Kahneman ignited discussions with his statement, “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.”
IPO Announcement
The potential IPO announcement stands out as the most anticipated revelation. The ongoing legal battle with the US Securities and Exchange Commission (SEC) has been a significant roadblock to its public offering plans. But this has changed with the progress and latest victories for Ripple.
Community member AgentSmith weighed in on this, stating, “Ripple can tell the SEC it doesn’t matter if they’re in court or not when they submit for their IPO. The SEC just has to make sure the paperwork is in order and they don’t have to examine the underlying business model. Precedent: Coinbase IPO.”
Kahneman responded, highlighting the diminishing significance of the SEC case, “Yeah, the case at this point is how much they owe, if anything, not that they are persisting atm. It’s in the rearview mirror.”
Many pundits have been speculating about an IPO in recent weeks. Ripple has even posted an open position for a “Senior Shareholder Communications Manager,” suggesting that they are preparing for an IPO.
VARA License
Speculation is also rife regarding Ripple’s VARA (Virtual Assets Regulatory Authority) license application in the UAE. The presence of Henson Orser, CEO of VARA, at the event, coupled with the company’s recent strategic moves, underscores the significance of this development. A successful acquisition of the VARA license could herald a swift and robust expansion phase for the company in the UAE.
CBDCs And Stablecoin/Tokenization
The role of central bank digital currencies (CBDCs) and the broader realm of stablecoin and tokenization could be another focus of the conference. Given the global shift toward CBDCs and Ripple’s strong focus on this line of business, Swell could provide insights into Ripple’s position and potential collaborations in this evolving landscape.
Countdown To Ripple Swell: Top Predictions For This Year’s Announcements https://t.co/IhBGqlJ29G
— 🇳🇱 MackAttackXRP® 🇳🇱 65K-XRP-Followers (@MackAttackXRP) October 30, 2023
Ripple-SEC Settlement
Luke Thomas, another XRP community member, offers another prediction, tying the event’s timing with the SEC case, “Interesting that Swell Dubai is happening between Nov 8th and 9th, with both the SEC and Ripple poised to discuss the potential briefing schedule regarding the pending issue in the case on Nov 9th. My prediction is that Ripple will pay somewhere between $300 to $500 million to the SEC and this case will be settled with the announcement of the settlement happening at Swell Dubai.”
Impact on XRP Price
While Ripple Swell isn’t a widely advertised conference, its potential announcements, especially an IPO, could significantly influence the XRP price. Historically, the XRP price tends to move up a bit in anticipation of the event. Some years more than others. Thus, the XRP community will be closely monitoring the event.
Overall
The Ripple Swell 2023 event promises to be a pivotal moment for Ripple and the XRP community. With the potential IPO, VARA license, and discussions on CBDCs and stablecoins, there’s much at stake. Moreover, the diminishing significance of the SEC case adds an intriguing twist to the proceedings. Keep an eye on this event, as it could reshape the future of Ripple and impact the XRP price in significant ways.
