Talks of a Ripple IPO are picking up again after pro-XRP lawyer John E. Deaton made a strong prediction about the company’s future. Ripple may have said it’s not going public this year, but its recent business moves have people thinking otherwise.
Deaton weighed in on the topic after watching Ripple CEO Brad Garlinghouse speak about Circle’s market performance. In a tweet, he noted that while Ripple doesn’t need to raise capital, the timing of an IPO could be critical.
He added that if Circle is targeting a valuation between $62 billion and $75 billion, Ripple could potentially be valued even higher.
Ripple currently holds nearly 40 billion XRP, and with XRP trading around $2, that alone gives it an internal value close to $80 billion. According to Deaton, a $100 billion market cap isn’t out of reach in the current environment.
Though Ripple executives, including Garlinghouse and President Monica Long, have made it clear that an IPO isn’t on the table for 2025, recent developments suggest otherwise.
The company has launched a $700 million share buyback program and ramped up hiring across investor relations and corporate strategy teams. These are typical signs of a company preparing to go public.
Ripple also completed two major acquisitions in the last year, a $1.25 billion deal for crypto prime brokerage firm Hidden Road and a $250 million buyout of custody platform Metaco. Ripple’s recent acquisitions look like part of a bigger plan to build out its ecosystem and attract serious interest from institutional players.
XRP price may be steady, but big money is paying attention
Even with all the buzz around Ripple’s future, XRP’s price hasn’t moved much. It spiked to nearly $3 in March after Donald Trump floated the idea of adding XRP to a national crypto reserve. But since then, it’s settled back to around $2.
That said, institutional interest is clearly picking up. Energy firm VivoPower, which is publicly listed, recently put $121 million into XRP for its treasury. It also partnered with the Flare blockchain to earn returns on those holdings.
Moves like this suggest that big institutions are quietly betting on XRP’s long-term potential and see Ripple becoming a key player in the global financial system.
What Comes Next for Ripple?
The SEC lawsuit, once a major hurdle, is no longer the roadblock it used to be. With more clarity on XRP’s legal status in the U.S., the path to a public listing appears more open, even if Ripple insists it’s not happening this year.
Deaton’s comment reflects a growing sentiment in the crypto community: Ripple may be playing the long game, but when it finally steps into the public markets, it could do so with a valuation that makes headlines across Wall Street.
Also Read: XRP Lawyer Dismisses 2026 Delay Rumors in Ripple vs SEC Case
