Ripple CEO Brad Garlinghouse has directly addressed the swirling IPO and valuation rumors, making it clear that “going public is not a priority for us right now.” The statement comes as market chatter put Ripple’s potential valuation at $100 billion and XRP derivatives activity surged.
CEO Cites Peers’ Underperformance
Garlinghouse pointed to the disappointing public market showings of BitGo, Gemini, and Kraken. “For us, an IPO is not a priority at this time for many reasons. Looking at the outcomes for other companies, we see no need to rush,” he said at an event. Internal discussions have taken place, but Ripple is in no hurry to follow the industry trend of using an IPO as a badge of legitimacy.
Former CTO: IPO Still on the Table, Timing Depends on Regulation
Former CTO David Schwartz offered more nuance: going public remains an option, but the timing hinges on the evolving political and regulatory landscape, including a potential return of Donald Trump to the presidency in 2024. Ripple is waiting for greater regulatory clarity, improved market conditions, and the right window to execute. Earlier in 2026, the company had already dismissed IPO rumors and redirected energy to institutional XRP adoption, infrastructure upgrades, and compliance enhancements.
Market Frenzy Meets Corporate Reality
Around mid-2025, speculation reignited around a possible Ripple IPO. Attorney John Deaton suggested the company’s market value could hit $100 billion. Meanwhile, CME XRP futures trading volume surpassed $500 million, widely viewed as a bullish signal from institutional players.
But Brad Garlinghouse’s latest comments draw a clear line between market noise and corporate strategy. Rather than chasing short-term gains, Ripple is sharpening its fundamentals, expanding real-world XRP utility, and deepening partnerships with financial institutions. The company will consider an IPO only when the circumstances become fully favorable.
Ripple’s message is consistent: scaling operations and building robust corporate infrastructure matter more than cashing in on hype. An IPO is a tool, not a finish line — and Ripple intends to pick its moment carefully.