Ripple drops $700M on share buyback; XRP price reacts
Ripple Labs has launched a $700 million share buyback plan, but will this move further delay the company’s long-anticipated IPO? In an email to stakeholders, Ripple CEO Brad Garlinghouse confirmed that the $700 million tender offer began on June 10 and will remain open until July 9. The offer values Ripple shares at $175 each, a striking 135 percent premium over the company’s recent secondary market price of around $74 to $75. Eligible shareholders will have a one-month window to participate in the offer. Investor Jeremy Raper highlighted the timeline in a post on X (formerly Twitter), where he shared a screenshot of the terms. Ripple email. Source: Jeremy Raper on X By offering such a premium, Ripple is signaling both its financial strength and its intent to reward existing shareholders. The move also reinforces confidence in the company’s growth trajectory as it continues to expand despite regulatory headwinds. Compared to Ripple’s previous buyback in Janua...