XRP-linked payments company Ripple has launched a $750 million share buyback through a tender offer that values the firm at approximately $50 billion, according to Bloomberg. The repurchase program, open to both investors and employees through April 2026, marks a 25% valuation increase from Ripple’s $40 billion funding round just four months ago in November 2025.
The move comes at a time of growing institutional interest in XRP. Goldman Sachs disclosed a $153.8 million position across four spot XRP ETFs, making it the single largest institutional XRP ETF holder. Spot XRP ETFs, launched in November 2025, have attracted $1.4 billion in total assets under management with only nine net outflow days.
Despite the corporate confidence, XRP itself has struggled on the open market, trading near $1.38 on March 12, down roughly 62% from its all-time high of $3.66 in July 2025. The gap between Ripple’s surging private valuation and XRP’s price weakness is hard to ignore. Ripple the company is thriving; XRP the token is not keeping up. That tension is the central question for XRP holders right now.
Buyback Details: $750 Million at $50 Billion
The tender offer allows existing shareholders, including early investors and current employees, to sell shares back to Ripple at a price that implies a $50 billion valuation. Key details:
| Detail | Value |
|---|---|
| Buyback Size | $750 million |
| Implied Valuation | ~$50 billion |
| Previous Valuation (Nov 2025) | $40 billion |
| Valuation Increase | 25% |
| Tender Deadline | April 2026 |
| Eligible Participants | Investors and employees |
This is Ripple’s second buyback attempt. A $1 billion repurchase at $40 billion was offered in October 2025 but saw limited participation, reportedly because shareholders were reluctant to sell at that price. The higher valuation in this round could encourage greater take-up.
The November 2025 round that established the $40 billion baseline raised $500 million from major institutional investors including Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
Goldman Sachs and Institutional XRP Adoption
Goldman Sachs has emerged as the dominant institutional force in the XRP ETF market. According to its Q4 2025 13F filing, the bank holds approximately $153.8 million across four XRP ETF issuers:
| ETF | Goldman Sachs Position |
|---|---|
| Bitwise XRP ETF | ~$40 million |
| Franklin XRP Trust | ~$38 million |
| Grayscale XRP ETF | ~$38 million |
| 21Shares XRP ETF | ~$36 million |
Goldman’s XRP position sits within a broader $2.3 billion crypto ETF portfolio that includes $1.1 billion in Bitcoin ETFs and $1 billion in Ethereum ETFs. The bank’s XRP allocation accounts for nearly 73% of the $211 million collectively held by the top 30 institutional XRP ETF investors.
Despite Goldman’s outsized position, an estimated 84% of XRP ETF assets are still held by retail investors. Spot XRP ETFs have only been trading since November 2025, and broader institutional adoption is expected to develop as more asset managers complete due diligence.
Ripple’s Acquisition Spree: Nearly $4 Billion Deployed
The buyback is part of a broader capital allocation strategy that has seen Ripple deploy nearly $4 billion across the crypto ecosystem. The company’s major acquisitions form a vertically integrated digital asset infrastructure stack:
- Hidden Road ($1.25 billion): Acquired October 2025 and rebranded as Ripple Prime, this global multi-asset prime brokerage made Ripple the first crypto company to own such a platform. Hidden Road was added to the NSCC (National Securities Clearing Corporation) directory on March 2, 2026, granting direct access to U.S. clearing infrastructure.
- GTreasury ($1 billion): Announced October 2025, this acquisition brought Ripple into the corporate treasury management market. The combined platform, “Ripple Treasury, Powered by GTreasury,” launched in January 2026, enabling CFOs to manage both traditional and digital assets.
- Rail ($200 million): A stablecoin payments platform that enhances Ripple’s cross-border payment capabilities.
- Palisade: A custody solution that strengthens Ripple’s institutional-grade asset safekeeping.
XRP Ledger Activity Surges Despite Price Weakness
On-chain data reveals a striking divergence between XRP Ledger usage and XRP’s price action. Daily transactions on the XRP Ledger have reached 2.7 million as of mid-March 2026, nearly doubling the December 2025 peak of 1.45 million transactions.
Key XRP Ledger metrics:
- Daily transactions: 2.7 million (up from 1.45 million in December 2025)
- Total activated accounts: 7.64 million
- Daily active accounts: 15,000 to 25,000
- Tokenized real-world assets: $461 million
- RLUSD stablecoin market cap: Over $1 billion
- Ripple Payments total volume: Over $100 billion processed
The network has become a significant venue for tokenized real-world assets, controlling approximately 63% of the tokenized U.S. Treasury market and outpacing Ethereum, Solana, and Arbitrum in that category. Dubai’s government tokenized $5 million in real estate on the XRP Ledger, creating 7.8 million tradable property tokens.
The relatively low daily active account count (15,000 to 25,000) compared to the 2.7 million daily transactions suggests that institutional settlement flows and app-layer usage, rather than a wave of new retail users, are driving the activity spike.
XRP Price Outlook: Technical Squeeze in Play
XRP traded near $1.38 on March 12 in a tight range, with Bollinger Bands compressing to levels that historically precede significant price moves. The token is down approximately 18% over the past 30 days, pressured by broad crypto market weakness as Bitcoin slipped below $70,000 amid oil-price-driven stagflation fears.
Several catalysts could shift XRP’s trajectory:
- Ripple Prime NSCC integration: The potential migration of $3 trillion or more in annual clearing volumes to the XRP Ledger could create sustained settlement demand for XRP
- RLUSD adoption: Growing stablecoin usage on the XRP Ledger drives indirect XRP demand through settlement fees
- Institutional ETF accumulation: Continued buying by Goldman Sachs and other institutions could tighten supply
- Buyback signal: A $50 billion private valuation suggests Ripple’s insiders see significant upside even at current depressed XRP prices
However, XRP faces headwinds from the broader macro environment, with rising oil prices pushing back Federal Reserve rate cut expectations and restricting the liquidity that typically fuels crypto rallies.
Related Reading
- SEC and CFTC Sign Historic MOU to End Regulatory Turf War and Unify Crypto Oversight
- Bitcoin Holds Above $70,000 as CPI Matches Forecasts and IEA Announces Record Oil Release
- Solana ETFs Defy 57% Price Drop With $1.5 Billion in Inflows as Wall Street Doubles Down
References
- Bloomberg via Techmeme: Ripple kicks off a share buyback at a $50B valuation
- CoinDesk: Ripple share buyback program values the firm at $50 billion
- CoinDesk: XRP steadies near $1.38 as Bollinger squeeze hints at breakout
- CoinMarketCap: Ripple Launches $750M Buyback at $50B Valuation
- Benzinga: Ripple Launches $750M Share Buyback As Goldman Sachs Loads Up On XRP ETFs
- Coindoo: Goldman Sachs Leads Institutional Charge Into XRP ETFs With $154 Million Stake
This is not financial advice. Always conduct your own research before making investment decisions.
