Another IPO storm is brewing in the virtual asset market. Following the successful New York Stock Exchange listing of stablecoin issuer Circle, Ripple is now preparing for its IPO.
According to New York stock market sources on the 20th (local time), Ripple, the XRP issuer, has recently begun full-scale preparations for its initial public offering (IPO). The IPO push is seen as aligning with the cryptocurrency market's recovery and Ripple's strategy to expand stablecoin and digital payment infrastructure.
Cryptocurrency analyst John said, "Ripple's IPO will stimulate XRP's price rally" and that "XRP holders will be laughing all the way to the bank." He explained that Ripple's listing could be an opportunity to gain recognition for its "insane level of corporate value" and technically, XRP is on the verge of breaking out of a symmetrical triangle pattern.
Ripple's IPO is generating expectations by drawing comparisons to Circle's successful case. Circle exceeded its IPO target of $7 billion, recording a market capitalization of $25 billion immediately after listing. Cryptocurrency lawyer John Deaton predicted that "within a year after the SEC lawsuit's conclusion, Ripple could pursue an IPO of around $100 billion."
Ripple actually began recruiting for shareholder relations and strategy positions in late 2023 and in June 2025, purchased $700 million of its own shares at $175 per share, reflecting its corporate value at $25 billion. This is more than double the $11.3 billion valuation from January 2024.
Ripple CEO Brad Garlinghouse had previously maintained a cautious stance, stating that "IPO is a strategy after growth." However, following Circle's IPO success and the passage of the U.S. stablecoin regulation bill (GENIUS Act), interpretations suggest Ripple's listing strategy is gaining momentum.
Garlinghouse noted that with the SEC lawsuit concluded, "XRP might be included in the U.S. federal government's digital asset list" and even mentioned potential political landscape changes, suggesting Donald Trump might remember XRP.
Ripple has recently issued an additional 10 million RLUSD stablecoins, accelerating infrastructure expansion in line with regulatory changes. Financial analyst Andrew stated that the "GENIUS Act will fundamentally transform banking structures within 6-24 months" and assessed Ripple as a potential leading company in this trend.
Meanwhile, cryptocurrency data analysis firm glassnode reported that 78.8% of XRP holders are in a profitable position. XRP is currently trading below $2.20, and platform activities based on the XRP ledger are increasing with the expanded adoption of RLUSD.
The industry anticipates that with major cryptocurrency companies like Kraken and Gemini also preparing for IPOs, Ripple's listing could signal a broader industry restructuring beyond just a single event.
