Ripple on Track for a Record $30B IPO

Ripple Labs, the company behind the XRP cryptocurrency, is expanding rapidly.

Ripple Labs, the company behind the XRP cryptocurrency, is expanding rapidly. In April they bought prime broker Hidden Road for $1.25 billion. Shortly after, they launched XRP futures in the United States as the first of its kind.

According to Sean McBride, a former Ripple director, the company could end up delivering the largest IPO ever. The current record is Saudi Aramco with $25.6 billion.

View post on X puts Ripple Labs' value at $30 billion. This estimate is based on the company’s share buyback program, where Ripple repurchases shares for at least $700 million at a price of $175 per share.

By multiplying that price per share by the total number of Ripple shares, McBride arrives at an estimated enterprise value of $30 billion. That would top Saudi Aramco’s record by several billions.

Still, several Ripple spokespeople have said in recent months that they have no interest in an IPO. Instead, the company tried to acquire Circle, though that ultimately didn’t work out.

Ripple CEO Brad Garlinghouse commented: “Most companies go public to raise money. But we didn’t need extra capital.”

For investors, this may sound disappointing, but it’s actually a positive sign for XRP. It shows the company is financially strong.

Meanwhile, the legal feud around XRP appears to be nearing an end. Ripple and the U.S. market regulator SEC reportedly reached a deal that the company only needs to pay part of the $125 million fine. The court still needs to approve this.