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Ripple’s $700M share buyback hints at a $30B valuation, potentially making its IPO the biggest in history if launched.
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Despite speculation, Ripple prioritizes acquisitions like Hidden Road over a 2025 IPO, keeping its public debut uncertain.
Ripple could be on track to launch the largest initial public offering (IPO) in history, according to former company director Sean McBride. However, recent updates from insiders suggest Ripple may not file for an IPO anytime soon.
So, is Ripple planning the biggest IPO ever, or is the hype too early?
Ripple Share Buyback Signals $30 Billion Valuation
Sean McBride recently posted on X, estimating Ripple’s valuation at $30 billion. This is based on Ripple’s ongoing share buyback program, where the company is purchasing at least $700 million worth of shares at $175 each.
By multiplying this per-share price with the total share count, McBride arrived at the $30 billion figure — a valuation that would place Ripple ahead of many past IPO giants.
How Ripple Stacks Up Against Historic IPO Giants
If Ripple goes public with this valuation, it could surpass the biggest IPOs ever seen. Here’s a breakdown of the top IPOs by capital raised:
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Saudi Aramco – $25.6B (later increased to $29.4B) – Dec 2019
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Alibaba Group – $21.8B (later raised to $25B) – Sep 2014
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SoftBank Corp – $21.3B – Dec 2018
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NTT Mobile – $18.1B – Oct 1998
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Visa – $17.9B – Mar 2008
Ripple’s IPO could outshine even Saudi Aramco, making it a historic milestone in the crypto and fintech industry.
Ripple IPO Date: When and Where Will It Happen?
A couple of years ago, McBride predicted that Ripple would go public by 2025, potentially outside the U.S. due to its legal battle with the SEC. However, the scenario has changed:
- The SEC lawsuit is now nearly resolved.
- Donald Trump, a pro-crypto leader, is back as U.S. President.
- Regulatory support for crypto is growing rapidly in the U.S.
This makes a U.S.-based IPO more likely than ever.
Still, sources close to Ripple leadership have denied plans for a 2025 IPO, and even McBride has distanced himself from his earlier forecast. However, some analysts like Linda P Jones believe Ripple’s IPO could still happen within this year.
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Ripple’s Global Focus: Expansion Over IPO
Ripple’s current strategy appears to prioritize acquisitions over public listing. With massive cash reserves, the company is under no pressure to go public.
Key strategic moves include:
- $1.25 billion acquisition of Hidden Road, making Ripple the first crypto firm to own a global, multi-asset prime broker. This move expanded Ripple’s reach from payments into trading, clearing, and financing, enhancing XRP and RLUSD utility.
- Ripple also tried acquiring Circle, the issuer of USDC, but the deal fell through as Circle was focused on its own IPO.
Interestingly, Circle’s IPO on NYSE in June 2025 was a success, with its stock (CRCL) soaring 290% above its initial offering price.
Final Thoughts
Ripple may be setting the stage for a record-breaking IPO, but its current focus on strategic acquisitions and the uncertain timeline for going public make the situation unclear.One thing is certain — if Ripple does go public, it could redefine the crypto IPO landscape forever.
