As Ripple Labs targets $1 billion in annualized revenue run rate by the end of 2026, Brad Garlinghouse, the company's CEO, admitted that the blockchain-focused payment firm is ‘more neutral' for a potential Initial Public Offering (IPO).
Funding Boost: The company completed a $275 million senior note offering through Ripple Prime to expand U.S. clearing, financing, and prime brokerage services. Prime Brokerage Growth: Revenue at Prime has tripled since the $1.25 billion Hidden Road acquisition, supported by institutional investor confidence and a BBB rating from KBRA.
On Aug. 18, Ripple deepened its push into traditional finance, securing a South Korean banking deal as its prime brokerage raised $275 million.
Even though the price of XRP is still stuck close to the psychologically significant $1 level, it may be creating one of its first significant bullish momentum signals in weeks. While the overall trend is still clearly negative, a divergence between XRP's price action and the Relative Strength Index indicates that bearish momentum is waning.
Ripple said the $275 million raised will support its expansion into traditional financial services such as prime brokerage and multi-asset clearing, citing strong demand from institutions.
Ripple CEO Brad Garlinghouse says Ripple is bridging TradFi and DeFi, leveraging regulation, acquisitions and institutional demand to reshape finance.
XRP open interest hits a two-month high as $1M XRP Ledger transfers surge 280%, active addresses climb, and RLUSD adoption accelerates.
Ripple Prime's inaugural senior notes carried an investment grade rating and drew institutional investors across key financial markets.
XRP holds near $1 as a White House crypto meeting and steady ETF inflows shape short-term price expectations.
Ripple CEO Brad Garlinghouse has once again softened his stance on a potential initial public offering.
The Sept. 15 cloture vote has 10% odds. XRP sits at $1.
XRP holds near $1 despite XRPL stablecoin supply rising 195% and XRP investment products attracting $253.6 million during Q2.