Ripple, the company behind XRP, has officially announced that it has no plans to go public in 2025 ๐ซ๐. In an interview with CNBC, Rippleโs President, Monica Long, shared that an Initial Public Offering (IPO) isnโt on their roadmap at the moment ๐ฃ๏ธ.
Long pointed out Rippleโs strong financial position ๐ฐ, mentioning that the company holds billions in cash reserves. โWeโre in a place where we donโt need to raise more funds or seek extra publicity,โ she said, putting an end to years of speculation around a possible IPO ๐ฅ.
She also highlighted that Ripple boosted its finances earlier this year by buying back shares, valuing the company at $11.3 billion, compared to a $15 billion valuation back in 2022 ๐. Rippleโs CEO, Brad Garlinghouse, backed Longโs remarks, emphasizing that Ripple isn't looking for outside investments and has no rush to go public ๐.
Although Garlinghouse had previously hinted that an IPO could happen after Ripple settled its legal fight with the SEC โ๏ธ in 2022, he now made it clear: going public is not a priority for Ripple, even after the case wrapped up in late 2023 โ . #xrp #Ripple #cryptocurrencies #altcoins #crypto
