The legal battle between Ripple and the SEC has escalated, with Ripple striving to keep its financial data confidential while facing the SEC's demands for $2 billion in penalties related to XRP sales.

Ripple CEO Brad Garlinghouse recently hinted at considering overseas jurisdictions for a potential Initial Public Offering (IPO). Speaking at the 2024 Consensus Event, Garlinghouse highlighted that the current U.S. regulatory environment makes a domestic IPO unfeasible.

When asked about the Ripple IPO, Garlinghouse stated that it is not a priority for the company at this time, citing the leadership of SEC Chairman Gary Gensler as a significant obstacle. He noted that Ripple's S-1 registration statement for an IPO requires SEC approval, which he doubts will be favorable under Gensler's chairmanship. Garlinghouse criticized Gensler's position, arguing that it lacks a progressive outlook.

"Going public in the United States for Ripple right now doesn’t make any sense," Garlinghouse remarked, underscoring the impracticality of a U.S. IPO under the current regulatory conditions.

Recent data from Linqto shows that Ripple's pre-IPO shares are trading at $50.69, significantly up from $35 last year. This 1,242% increase in Ripple's valuation could positively impact XRP's price, though the exact effect remains uncertain due to limited historical data. Currently, XRP is trading at $0.52 after a recent decline. If XRP's price were to mirror the 1,242% increase of Ripple's shares, it would reach $6.63.

Additionally, Garlinghouse expressed optimism about the market's future, citing the approval of the spot Ethereum ETF as a milestone toward a $5 trillion market valuation. He confidently predicted that the emergence of XRP, SOL, and other cryptocurrency Exchange-Traded Funds (ETFs) is inevitable.

Beyond ETFs, Garlinghouse revealed Ripple's plans for institutional DeFi development, which aims to introduce multi-purpose tokens. This initiative seeks to enhance the utility and versatility of the Ripple ecosystem, positioning the company at the forefront of innovation in the cryptocurrency industry.

Ripple's strategic focus on overseas IPO possibilities and its commitment to expanding DeFi capabilities reflect its efforts to navigate regulatory challenges and drive forward in a rapidly evolving market.