Why Won’t Ripple Go Public? US Midterms Might Be The Reason

• Ripple stays private after a $500M raise, leveraging its $40B valuation and strong reserves to avoid IPO-related scrutiny.
• Leadership cites US regulatory uncertainty and 2026 midterm shifts as key factors in delaying a public listing.
• The company’s cautious stance reflects a strategy to await a crypto-friendlier political climate before pursuing an IPO.

Ripple confirmed this week that it has no plans to go public, citing its strong financial position and the absence of a need for external funding following its recent $500 million raise.

The move reflects broader caution as the company watches US political and regulatory shifts, likely waiting for a more favorable environment before pursuing an initial public offering (IPO).

Ripple Holds Off IPO {#h-ripple-holds-off-ipo}

On Wednesday, Ripple President Monica Long put an end to months of speculation by confirming that the company has no plans for an IPO, at least in the foreseeable future.

This announcement follows Ripple’s $500 million funding round, led by affiliates of Fortress Investment Group, Citadel Securities, Pantera Capital, and others.

The investment valued the company at $40 billion, leaving it well-capitalized with billions in reserves and no need for external financing.

With that financial cushion, the San Francisco-based blockchain company is well-positioned. It can remain private while avoiding the transparency and regulatory scrutiny that come with a public listing.

⚡ Brad Garlinghouse on whether Ripple will go public with an IPO in the near future, or not: “If Ripple were to prioritize going public today, we’d definitely look at the US markets.”$XRP pic.twitter.com/9jkpCojUcN — ALLINCRYPTO (@RealAllinCrypto) November 6, 2025

Recent interviews with Ripple CEO Brad Garlinghouse reveal the company’s continued caution regarding the US market, with Garlinghouse confirming to CNBC that Ripple has no plans to go public anytime soon.

“Going public still isn’t a short-term priority for us. We always keep an eye on that… but for now we are focused on building and we have the balance sheet that’s allowed us to make these billion-dollar acquisitions and to continue to grow the business,” he said.

The uncertainty surrounding the 2026 United States midterm elections may be amplifying strategic caution at Ripple Labs.

Patience Over 2026 Midterms {#h-patience-over-2026-midterms}

The outcome of the upcoming midterm elections could significantly reshape the US regulatory space for cryptocurrency. Aware of this, Ripple Labs may be responding with strategic caution.

The Republican Party currently holds a 53-47 majority in the Senate and only needs a net gain of four seats to regain full control after the 2026 elections.

However, this success isn’t guaranteed.

A Ripple IPO is an event/trade ( $XRP ) I’ve been preparing the book for internally for several weeks now, in a variety of ways.

I think any statements, from executives, albeit positive or negative about IPO’ing = IPO is closer than we think.

One clue which was not caught by… pic.twitter.com/FhXLwLUFUU — Lucky ☘️ (@LuckyXBT__) November 5, 2025

Just this week, recent Democratic victories across New York City, Virginia, and New Jersey particularlydestabilized the Republican Party.

Since Ripple’s business model and listing timing depend on the regulatory environment of its US home base, the company appears to be waiting until the political seas calm. 2026 US Mid-Term Election Odds. Source: Polymarket

Depending on the outcome of the next elections, a Congress and executive branch favorable to crypto would lower the regulatory risk of going public. An unfavorable configuration, however, could increase scrutiny and disclosure burdens.

This strategic waiting game highlights Ripple’s deliberate patience in timing its move to go public.