Ripple IPO Decision: No IPO Plans Post-SEC Lawsuit Win

Ripple Rules Out IPO After SEC Lawsuit Victory

Ripple, the US-based blockchain company behind the XRP cryptocurrency, has confirmed it will not seek an initial public offering (IPO) despite concluding its long-running legal battle with the US Securities and Exchange Commission (SEC). Monica Long, Ripple president, stated there are currently no plans or timeline for an IPO, according to a Bloomberg report cited by Cointelegraph. “We’re in a fortunate position where we’ve been able to be very well capitalized and fund all of our organic growth, inorganic growth, strategic partnerships, anything we want to do,” said Long.

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Background: From Legal Challenges to Strategic Growth

Speculation about a Ripple IPO had persisted for years, fueled by hints from several executives. However, the possibility cooled significantly after Ripple faced a $1.3 billion lawsuit from the SEC in late 2020 regarding allegations of unregistered securities sales. The legal dispute with the SEC concluded in March 2024, with Ripple CEO Brad Garlinghouse announcing the agency had dropped its multi-year action against the company.

Throughout its legal challenges, Ripple maintained private company status and has not disclosed full annual profit or revenue figures. Market intelligence platform CBI Insights estimated Ripple’s 2024 revenue at $1.3 billion, though Monica Long declined to confirm that figure. She noted that Ripple had doubled its customer base, citing rapid adoption of its Ripple USD (RLUSD) stablecoin and increasing global regulatory clarity.

Monica Long post on X (Formla Twitter) — Monica Long

Ripple’s RLUSD stablecoin reached the top 10 USD stablecoins list less than a year after its launch (cryptocurrency news).

The company also announced a $500 million strategic investment round from leading institutional investors including Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. This funding comes after a $1 billion tender offer that valued Ripple at $40 billion, marking what executives described as the “strongest year to date” for the firm.

Ripple stated, “As Ripple continues its record year of growth, providing liquidity for shareholders and employees remains a priority,” confirming that it has repurchased over 25% of its outstanding shares in recent years.

Market Reaction and Sector Outlook

While Ripple has opted against an IPO, other major crypto firms such as Circle (issuer of USDC), Bullish, and Gemini went public in 2025. Ripple’s decision to remain private contrasts with industry trends but aligns with its emphasis on independent growth and strategic investment. As global regulatory clarity increases and institutional interest grows, Ripple appears focused on leveraging its private status for continued strategic expansion rather than entering public markets.

Cointelegraph reported that Ripple did not respond to requests for further comment regarding its IPO stance by publication time.

What’s Next for Ripple?

Following the SEC lawsuit win and successful funding round, Ripple’s path will emphasize organic and inorganic growth, further stablecoin adoption, and expansion of its partnership network. The focus on providing liquidity for existing shareholders and employees, alongside a lack of immediate IPO plans, suggests Ripple will continue refining its global role in the cryptocurrency market as private company.

Sources: Cointelegraph