Ripple’s long-anticipated IPO could be a defining moment not just for the company but for the entire crypto market, particularly for XRP.

Crypto angel investor Dennis Liu shared this perspective in a recent commentary on Circle’s IPO performance. Comparing Circle’s public debut to Ripple’s IPO, Liu suggests that Ripple’s IPO could trigger a wave of mainstream momentum for XRP.

Circle’s Performance Sets the Stage

Liu highlighted Circle’s strong IPO performance as a major indicator of investor appetite for crypto-related equities. Initially priced at $31 per share, Circle stock now trades at around $116, a nearly fourfold increase. As a result, Circle’s valuation has expanded from its original $7 billion target to over $25 billion.

With this valuation, Liu stressed that Circle’s success demonstrates robust and growing demand from traditional finance for publicly listed crypto companies. He believes Ripple could see similar or even greater success.

Ripple’s Delayed IPO is Strategic, not a Setback

Ripple has long been rumored to be preparing for an IPO, but the company has repeatedly delayed its plans. Most recently, Ripple confirmed it would not go public in 2025, stating that an IPO is not an immediate priority. 

Instead, its current focus is on mergers and acquisitions. The company recently launched a $700 million share buyback to offer liquidity for early investors rather than pursuing an IPO.

However, Liu believes this is merely a strategic shift. He suggests that the company may be targeting 2026 or beyond rather than abandoning the idea altogether.

What sets Ripple apart is its unique relationship with the XRP token. If Ripple goes public, it will mark the first time a major crypto asset is directly associated with the stock of a publicly traded company. This pairing could lead to a historic market development.

The Next Wave of Crypto-Financial Products

Liu speculates that if XRP and Ripple stock show any form of correlation or interaction, it could pave the way for a new class of hybrid crypto-stock offerings. He further suggests that future IPOs may even bundle tokens and equity together, changing how projects raise capital.

Essentially, a successful Ripple IPO could legitimize the concept of token-equity combination, potentially opening the floodgates for other crypto companies to follow suit. 

This scenario becomes more plausible with increasing regulatory clarity under the new Trump administration and rising institutional interest in the crypto market. Circle’s performance is clear evidence of this trend.

How Could XRP Perform in the Wake of a Ripple IPO?

While XRP operates independently, Ripple’s performance often influences its price. A May analysis by The Crypto Basic suggested that XRP could experience a massive price surge if Ripple’s valuation climbs to the level of tech giants like Google, Apple, or Microsoft post-IPO.

Ripple’s estimated pre-IPO valuation stands at $10.88 billion, significantly below Microsoft ($3.376T), Apple ($3.155T), and Google ($2.021T).

Using current figures, AI chatbot Grok from xAI estimated future XRP prices based on Ripple reaching top-tier tech valuations:

• Google level ($2.021T): XRP at $440.46
• Apple level ($3.155T): XRP at $687.47
• Microsoft level ($3.376T): XRP at $735.58

These projections are based on a 12.77 ratio between XRP’s current market cap and Ripple’s valuation. However, Grok cautioned that these estimates are highly speculative. The analysis assumes XRP’s supply remains fixed and scales proportionally with Ripple’s valuation—an assumption that may not hold. 

More realistic projections for XRP by 2030 range between $3 and $20, but these also seem highly conservative.