Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Blockchain payments company Ripple has no immediate plans to follow the trend of digital asset firms going public. In a recent interviewwith Bloomberg at the company’s Swell conference in New York, Ripple President Monica Long stated, “We do not have an IPO timeline. No plan, no timeline.”
Her comments highlight the company’s present priorities, which include expanding its payments business, launching dollar-pegged cryptocurrencies, often known as stablecoins, and forming new alliances, rather than pursuing an initial public offering. IPO Aspirations Remain On Hold
These remarks come shortly after Ripple successfully closeda $500 million funding round earlier this week, achieving a valuation of $40 billion. This funding round was led by notable investors such as Fortress Investment Group and Citadel Securities, along with contributions from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. Related Reading Samourai Wallet Co-Founder Sentenced To 5 Years In Prison For Money Laundering 1 day ago
The substantial backing indicates that Ripple is not under financial pressure to seek public capital at this time. Long emphasized that the company remains “very well capitalized,” allowing it to fund “organic growth” and pursue acquisitions or partnerships without needing to turn to the public markets.
This decision positions Ripple differently from its peers, including stablecoinissuer Circle (CRCL), Bullish (BLSH), and Gemini (GEMI), all of which have recently gone public in the US as part of a broader wave of digital asset listings.
For holders of XRP, Ripple’s choice to delay an initial public offering presents mixed implications. On one hand, the lack of a near-term public listing might postpone hopes for a liquidity event that could enhance XRP’s market visibility.
Conversely, the recent funding round and a reportedly doubled customer base quarter-over-quarter bolster confidence in Ripple’s growth trajectory and its stablecoin payment strategy. Institutional Confidence In Ripple
Analysts suggestthat the $500 million raise at a $40 billion valuation reflects strong institutional confidence in Ripple’s long-term prospects. Coupled with the increasing on-chain adoption of the XRP Ledger (XRPL) for stablecoin and cross-border payments, this funding could help stabilize XRP’s price and pave the way for future rallies, especially if Ripple continues to expand its presence in the enterprise sector. Related Reading XRP Price Correction Is Far From Over: Bearish Divergence Signals Potential Revisit To $2.05 1 day ago
Furthermore, Ripple’s focus on integrating stablecoins and progressing through regulatory frameworks appears to be bearing fruit. Long noted that clearer regulations in the US and internationally have “opened up the market,” leading to a surge in adoption.
Currently, XRPis trading within its short-term range, which formed following continuous corrections between $2 and $2.60. The altcoin is currently trading at $2.32 and has seen a 4.7% recovery in the past 24 hours, with a clear resistance wall at $2.69. XRP’s price consolidation phase displayed on the daily chart. Source: XRPUSDT on TradingView.com
Featured image from DALL-E, chart from TradingView.com