Ripple CEO Dismisses IPO Plans Citing Weak Crypto Listings

Ripple CEO Brad Garlinghouse stated at XRP Las Vegas 2026 that the company is not prioritizing an initial public offering, citing the lackluster post-IPO performance of crypto firms including BitGo, Gemini, and Kraken. “We have not prioritized going public for a whole bunch of reasons,” Garlinghouse said. “They haven’t done well — we’re just not in a hurry to get down that path.”

Internal IPO Discussions Continue

Despite the CEO’s public stance, internal discussions about a possible listing have continued, according to David Schwartz, former Ripple CTO. Schwartz noted that these conversations accelerated following the political shift after Donald Trump’s return to office in 2024. This indicates Ripple is maintaining optionality rather than definitively rejecting a public listing.

Current Strategic Priorities

Earlier in 2026, Ripple itself downplayed IPO speculation, emphasizing that compliance, infrastructure development, and deeper institutional adoption of XRP have taken priority over a public market listing.

Recent Market Context

IPO speculation surrounding Ripple intensified in mid-2025 after attorney John Deaton suggested the company could justify a valuation near $100 billion. Around the same period, XRP-linked financial activity accelerated, with Chicago Mercantile Exchange XRP futures reaching $500 million in notional volume.