SpaceX completed the largest initial public offering in history, debuting on Wall Street with a $1.77 trillion valuation after raising $75 billion, and drawing more than $100 billion in orders from retail investors.
Ripple’s XRP Faces an Indirect Connection
Unlike Bitcoin, which has a clear exposure to SpaceX’s new stock, Ripple’s XRP does not appear in the company’s disclosed holdings, nor does SpaceX report using the XRP Ledger or integrating Ripple’s payment protocol. Consequently, the token’s price movement will hinge on overall market dynamics rather than on the SpaceX IPO itself.
Liquidity Pressure and Short‑Term Outlook
Analysts warn that a listing of this magnitude can drain liquidity from speculative crypto markets, especially when retail investors must allocate cash toward a massive IPO. Gemini highlighted that XRP, as a high‑beta crypto asset, is likely to be among the first altcoins trimmed by traders seeking cash, fostering a bearish short‑term sentiment for the token’s price.