Could Ripple Be Worth $100 Billion? A Lawyer Thinks So
John E. Deaton, a lawyer well-known in crypto circles, has stirred up talk again about Ripple possibly going public. His argument? If Circle—the company behind USDC—can pull off a big IPO, then Ripple’s valuation might be way higher than people think. Maybe even in the $100 billion range.
Deaton’s not just throwing numbers around, though. He’s comparing the two companies directly. Circle’s recent public debut set a benchmark, and Ripple, with its massive stash of XRP, could—in theory—top that.
Why Circle’s IPO Matters
Circle’s success seems to have opened a door. If investors are willing to assign that kind of value to a stablecoin issuer, what does that mean for a company like Ripple, which sits on nearly 40 billion XRP? At today’s price of around $2.15 per token, that’s roughly $80 billion just in holdings.
Deaton pointed out on Twitter that Ripple’s CEO, Brad Garlinghouse, has said there’s no rush to go public. And honestly, they don’t need the cash. But timing matters. If the market’s warm to crypto IPOs now, waiting too long might mean missing the best window.
Ripple’s Big Advantage: Its Treasury
Let’s talk numbers. XRP’s total market cap is sitting above $116 billion right now, making it one of the heaviest hitters in crypto. Ripple’s share of that—those 40 billion tokens—gives it a cushion most companies don’t have.
That’s probably why there’s no desperation for an IPO. They can pick their moment. But with Circle’s valuation as a reference, the math starts to look interesting. If investors are willing to buy into a stablecoin issuer at tens of billions, why not Ripple at double or triple that?
What’s Happening with XRP Right Now?
The price is bouncing around, like always. Up about 6% in the last day, but still down over the past week. Traders seem active, though—futures open interest is holding steady around $3.5 billion, way above where it was before last year’s rally.
Technically, things look a little shaky. The RSI is flirting with oversold territory, which sometimes means a rebound is coming. The MACD’s still in negative space, but the pressure might be easing.
So, is a Ripple IPO happening soon? Maybe not. But Deaton’s point is hard to ignore: if the market’s willing to pay up for crypto companies, Ripple’s got the assets to demand a premium. Whether that’s $100 billion or something else, well—we’ll see.
