 
 
Pro-Ripple attorney John Deaton has taken to X to share his outlook on the future of Ripple, with a key focus on how high the company’s valuation could go if it goes public.
The prominent crypto figure observed that although Brad Garlinhouse, the CEO of Ripple, mentioned that Ripple might not be looking to go public anytime soon, he asserts that the payment issuer will not need to seek funding when it intends to list its IPO.
“I know Brad Garlighouse said Ripple is NOT in a rush to go public. They certainly don’t need to raise capital, which is often, a primary reason to go public. But TIMING an IPO is also a big consideration.” He wrote.
He highlights the timeline of stablecoin issuer Circle, citing its ability to secure a $75 billion market cap as proof that Ripple and XRP could double its current valuation and potentially scale higher, possibly reaching the $100 billion mark.
As his post read;
 
“If Circle can hit a 62B-75B market cap, then Ripple, with nearly 40B XRP, currently valued at $2 (ie $80B), could certainly hit a $100B market cap in this environment.”
Notably, Circle’s IPO raised a whopping $1.1 billion in a deal that sent shockwaves through Wall Street. Earlier in June, the firm priced its IPO at $31 per share but went on close above at $240.38 per share Friday—a 675% surge from its initial IPO price.
The new development has stirred optimism within the broader financial market, but especially among cryptocurrency founders and market participants, who are positive that demand for cryptocurrencies and crypto-based products is on the rise. However, whether or not Ripple’s IPO could outperform remains to be seen.
Meanwhile, at report time, Ripple’s native token XRP is trading at $2.49 per token.
Source: https://zycrypto.com/why-this-attorney-believes-ripple-could-hit-100-billion-with-the-launch-of-its-highly-anticipated-ipo/