Ripple's Valuation Surpasses $100 Billion Amid Rising XRP Demand

According to ShibDaily, Ripple CEO Brad Garlinghouse has announced that the company's previous valuation of $11 billion is now considered outdated. This change is attributed to a significant increase in the value of XRP and a growing demand for Ripple's blockchain solutions. In a recent interview with Citizens JMP, Garlinghouse revealed that Ripple's updated valuation now exceeds $100 billion. This surge is driven by the rising demand for the company's blockchain offerings and the increase in XRP's price, which was trading at $2.30 at the time of reporting, based on CoinGecko data. Garlinghouse highlighted that Ripple's private market trading has been more affordable compared to its net asset value, especially when compared to other crypto-related firms like MicroStrategy. He noted that while Ripple has been trading at a discount in private markets, MicroStrategy has been trading at a threefold premium to its net asset value. Earlier in 2024, Ripple's valuation was aligned with a $300 million share repurchase by the company. In the same interview, Garlinghouse introduced Ripple's new stablecoin, Ripple USD, which is integrated within the broader XRP ecosystem. He emphasized Ripple's extensive experience with institutions and payment flows, which has enabled the company to bring a trusted product to market. Ripple USD was developed to enhance liquidity on the XRP Ledger, which Garlinghouse believes will improve the overall XRP ecosystem by streamlining transactions and reducing network friction. Garlinghouse also expressed criticism of the U.S. Securities and Exchange Commission (SEC), describing its regulatory approach as "abusive." He argued that the SEC's reliance on enforcement tactics has not been constructive. Garlinghouse suggested that the incoming administration under President-elect Donald Trump could provide clarity on the treatment of digital assets, particularly concerning securities laws. He also anticipates that the responsibility for cryptocurrency regulation might eventually shift to the Commodity Futures Trading Commission (CFTC).