Blockchain payments company Ripple has no immediate plans to follow the trend of digital asset firms going 0 a recent interview with Bloomberg at the company’s Swell conference in New York, Ripple President Monica Long stated, “We do not have an IPO 1 plan, no timeline.” Her comments highlight the company’s present priorities, which include expanding its payments business, launching dollar-pegged cryptocurrencies, often known as stablecoins, and forming new alliances, rather than pursuing an initial public 2 Aspirations Remain On Hold These remarks come shortly after Ripple successfully closed a $500 million funding round earlier this week, achieving a valuation of $40 3 funding round was led by notable investors such as Fortress Investment Group and Citadel Securities, along with contributions from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall 4 Reading: Samourai Wallet Co-Founder Sentenced To 5 Years In Prison For Money Laundering The substantial backing indicates that Ripple is not under financial pressure to seek public capital at this 5 emphasized that the company remains “very well capitalized,” allowing it to fund “organic growth” and pursue acquisitions or partnerships without needing to turn to the public 6 decision positions Ripple differently from its peers, including stablecoin issuer Circle (CRCL), Bullish (BLSH), and Gemini (GEMI), all of which have recently gone public in the US as part of a broader wave of digital asset 7 holders of XRP, Ripple’s choice to delay an initial public offering presents mixed 8 one hand, the lack of a near-term public listing might postpone hopes for a liquidity event that could enhance XRP’s market visibility.
Conversely, the recent funding round and a reportedly doubled customer base quarter-over-quarter bolster confidence in Ripple’s growth trajectory and its stablecoin payment 9 Confidence In Ripple Analysts suggest that the $500 million raise at a $40 billion valuation reflects strong institutional confidence in Ripple’s long-term 10 with the increasing on-chain adoption of the XRP Ledger (XRPL) for stablecoin and cross-border payments, this funding could help stabilize XRP’s price and pave the way for future rallies, especially if Ripple continues to expand its presence in the enterprise 11 Reading: XRP Price Correction Is Far From Over: Bearish Divergence Signals Potential Revisit To $2.05 Furthermore, Ripple’s focus on integrating stablecoins and progressing through regulatory frameworks appears to be bearing 12 noted that clearer regulations in the US and internationally have “opened up the market,” leading to a surge in adoption.
Currently, XRP is trading within its short-term range, which formed following continuous corrections between $2 and $2.60. The altcoin is currently trading at $2.32 and has seen a 4.7% recovery in the past 24 hours, with a clear resistance wall at $2.69. Featured image from DALL-E, chart from 13
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