The cryptocurrency world is currently abuzz with several initial public offering (IPO) speculations following the glorious success of Circle (CRCL) on its NYSE debut. Among major crypto firms, Ripple—the blockchain company behind XRP—is a leading name that is poised for going public, which would have an “insanely stupid valuation,” says a popular crypto advocate.
The timing of this speculated IPO aligns with hints from Ripple CEO Brad Garlinghouse, who had previously indicated that the firm might reconsider going public by late 2025 or early 2026. However, Ripple has a long history of dismissing IPO plans due to its regulatory battles with the U.S. Securities and Exchange Commission (SEC).
The claim posted on X by the anonymous user Pentoshi, who has over 866K followers, suggested that Ripple’s move could be inspired by Circle’s IPO, which saw a record-breaking first-day surge.
Pentoshi’s post, which has sparked a flurry of reactions on X, calls out that Ripple’s IPO is “coming” and likely to have an inflated valuation, connecting it to the $1.72 billion left on the table by Circle’s underwriters.
The current valuation for Ripple stands at approximately $11.3 billion, according to market speculators. Though XRP’s market cap is currently sitting at $132.68 billion—as per CoinMarketCap data. But, given that XRP is treated separately, it could conflict with the actual valuation of Ripple Labs as a listed company.
For Circle, its valuation currently stands at $16.6 billion, but the fully diluted market cap for USDC stablecoin is over $60 billion. From this angle, predicting a potential valuation for Ripple is too uncertain.
While igniting Ripple IPO rumors, Pentoshi’s X post had received a remarkable reaction from the crypto community, with some noting it would have no such impacts on the XRP price, nor will it be influenced by XRP’s dominance in the crypto industry.
“Honestly, an IPO at this point feels more like a formality than a surprise,” said a user. “The valuation will probably melt faces, but the real test will be if $XRP finally decouples from the SEC drama.”
Currently, there has been no official announcement from Ripple Labs, but Circle’s notable “pop” on the first day is largely hinting at a trend that Ripple and other crypto companies might seek to emulate.
Joining this race, the cryptocurrency exchange Gemini has already started preparing to go public, with it submitting a draft registration statement to the SEC on 6 June.
Also read: Ripple Teams Up with Web3 Salon to Empower Japan’s Digital Asset Ecosystem
