Ripple's President Confirms Plans to Remain Private

Ripple Does Not Intend to Launch Initial Public Offering

Monica Long, the president of Ripple, has confirmed that the company is not considering an initial public offering (IPO), emphasizing that it is in a "very healthy position" without the need to go public. Her statements follow a $500 million fundraising round in November that led to a valuation of Ripple at $40 billion.

In an interview with Bloomberg, Long addressed rumors regarding a potential IPO, stating, "Currently, we plan to remain private." She added that the strategy behind an IPO is often to gain access to investors and liquidity in public markets; however, Ripple is able to continue its business development without becoming public.

Long's comments come shortly after the U.S. Securities and Exchange Commission (SEC) announced it would suspend enforcement actions against Ripple, generating speculation about a possible IPO. As of the time of writing, the price of XRP was at $2.20, marking a decrease of approximately 6% in the last 24 hours, thus remaining the fourth-largest cryptocurrency by market capitalization.