Ripple (XRP) Cancels Its 2025 IPO Plan: Here's Why

Despite ongoing buzz and years of speculation, Ripple has confirmed it has no plans for an IPO in 2025. The company behind XRP is choosing a different path

Despite a recent report by CCW that suggested Ripple (CRYPTO: XRP) might be planning an initial public offering (IPO) in 2025, the company president has now confirmed that this isn't the case.

What Happened: Rumors of an IPO have swirled for years, and with Ripple’s long-standing legal dispute with the U.S. Securities and Exchange Commission (SEC) now at least partially resolved, it seemed like the time could be coming.

However, speaking with CNBC on Wednesday, Ripple President Monica Long said the company is in no hurry to go public. She pointed out that companies usually pursue IPOs when they need to raise capital or increase market awareness—neither of which is a priority for Ripple right now.

"We have no plans for an IPO in 2025. We are a company that is financially strong, we have billions of dollars in cash, and we are not in a hurry to go public," Long said.

"Typically, companies go public when they need to raise capital or they want to increase market awareness for their brand. But we don't need to do either of those things at the moment."

Also on Wednesday, CEO Brad Garlinghouse confirmed that the company isn’t planning to go public anytime soon and doesn’t require any external funding.

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A Long Time Coming: Rumors of an IPO from Ripple first began in 2022, when Garlinghouse said it would be a consideration once the company’s legal battles with the SEC were over.

The SEC sued Ripple in December 2020, alleging that its flagship XRP token was sold illegally in an unregistered securities offering. A judge partially ruled in favor of the SEC in April, but the case is still ongoing.

Garlinghouse previously said that an IPO wasn’t a top priority when he was asked about it in late 2023.

Earlier this year, it was reported that Ripple was planning to buy back shares from investors at a valuation of $11.3 billion, which would value the company lower than the $15 billion peak it hit in 2022.

The buyback ultimately raised $285 million for existing investors, bringing the total amount of funding that Ripple has raised to $318.5 million. Investors in the company include Andreessen Horowitz, Google (NASDAQ:GOOGL) Ventures, and Founders Fund.

Instead of going public, Ripple has been focusing on growing through acquisitions. A major move this year was the $1.25 billion purchase of Hidden Road, a prime broker that handles $3 trillion in annual transactions.

This deal is part of a broader effort by Ripple to expand its role in global finance and to boost the adoption of its stablecoin, RLUSD.