Crypto prices are in freefall. Ripple just raised its own valuation anyway.
Ripple is buying back up to $750 million in shares from investors and employees through a tender offer running through April, according to Bloomberg.
The buyback pegs the company's valuation at $50 billion — up 25% from the $40 billion valuation it set in November when it raised $500 million from Citadel Securities, Fortress Investment Group, Pantera Capital, and others.
That's a bold self-assessment. Bitcoin is down more than 40% from its October peak. XRP has fallen over 50%.
This isn't Ripple's first attempt at a buyback at this valuation.
Last September, Ripple tried to repurchase $1 billion in shares at the same $40 billion price — and got the lowest participation rate of any prior offer. Employees simply didn't want to sell.
This time the offer is smaller and the price is higher. Whether more people take the exit is the question.
The buyback is a corporate equity transaction — it doesn't directly affect XRP's supply or price.
But the indirect signal matters. A $50 billion Ripple valuation reinforces the institutional narrative around the XRP Ledger at a time when spot XRP ETFs have pulled in over $1.26 billion in cumulative inflows since launching in November.
There's also a notable subplot: Goldman Sachs disclosed a $153.8 million position in spot XRP ETFs — making it the largest institutional holder — while its own lobbying arm is fighting to block the national bank charter the OCC granted Ripple in December.
Wall Street contains multitudes.
