Ripple Launches $750 Million Share Buyback, Boosting Valuation To $50 Billion Ronaldo Marquez | usagoldmines.com

Blockchain payments giant Ripple has initiated a share buyback program that positions the company at a substantial valuation of $50 billion. 

Ripple Revives Share Buyback Effort 

According to a Wednesday report from Bloomberg, Ripple plans to repurchase up to $750 million in shares from both investors and employees. The plan is set to run through April, as disclosed by sources familiar with the situation. 

This new buyback effort follows a previous attempt in September, when Ripple aimed to buy back $1 billion worth of shares. However, that initiative fell short, as the company’s participation rate was notably low compared to earlier rounds of tender offers. 

During that attempt, Ripple had valued the company at $40 billion but struggled to attract interest from current shareholders, suggesting that many were reluctant to part with their stakes in what they believed to be a promising venture.

Despite the recent buyback news, the blockchain payment company has consistently maintained that it has no plans to take Ripple public in the United States. 

Meanwhile, a growing number of crypto firms, including giants such as Circle (CRCL) and Gemini (GME), have launched their own initial public offerings (IPOs) in the US over the past year, amid a notable shift toward a pro-crypto environment among regulators. 

XRP Price Sees Minor Recovery

In connection with the buyback announcement, XRP, Ripple’s associated digital asset, experienced a slight rebound, reaching approximately $1.39 at the time of writing. 

However, the fifth-largest cryptocurrency by market capitalization continues to face challenges in all time frames, recording losses between 4% and 5% over the past seven to fourteen-day period, respectively.

Featured image from OpenArt, chart from TradingView.com 

This articles is written by : Nermeen Nabil Khear Abdelmalak

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