The creator of the XRP (XRP-USD) coin, Ripple Labs, is at the top of accredited investors’ minds lately as a number of pre-initial public offering (IPO) crypto brands heat up. Indeed, unlisted crypto-related platforms and blockchains have seen renewed interest ahead of their respective IPOs, and Ripple Labs has seen the most. Despite the renewed attention, the XRP crypto has trended slightly down the past few days.
So, what’s going on with XRP lately?
Well, despite experiencing elevated trading volume lately, XRP has yet to see gains related to investors’ interest in Ripple. Indeed, accredited investors — those able to purchase shares of yet unlisted companies — have swarmed over crypto operators recently.
Companies like BlockFi, Dapper Labs and Kraken have each enjoyed a private equity boom of late. Some are still hoping the pre-IPO gains will trickle over to the crypto market itself.
What else do you need to know about XRP and Ripple?
XRP Crypto Fans Back Token Creator Ripple on Linqto
The pre-IPO news comes via Linqto, a private equity trading platform that specializes in early tech companies. For example, prior to crypto trading platform Coinbase’s (NASDAQ:COIN) listing last year, Coinbase stock was trading on Linqto at roughly $32 per share. For context, COIN stock is trading on the Nasdaq at $166 at the time of writing.
Nick Burrafato, director of digital asset sales at Linqto, explained Linqto’s process. “We don’t act like a broker, but rather we put our money upfront and buy pre-IPO tech company shares from early founders, investors and employees that need to liquidate shares for whatever reason — that might be to buy a house or send a kid to college,” Burrafato said.
As per Linqto, Ripple has apparently risen above the pack as the most popular pre-IPO crypto investment. In fact, more than $50 million of private equity in Ripple has been traded on Linqto since the platform went live in 2020.
Ripple leadership has repeatedly hinted at going public in the near future. Unfortunately, a U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple in late 2020 has since delayed its IPO plans.
XRP fans are likely disappointed by the crypto’s relative inaction in the face of Ripple’s private equity boom. With that said, currently XRP is up slightly, less than 1% on the day.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
