Ripple Said to Lead $1 Billion XRP Treasury Raise
Ripple is said to be leading an effort to raise $1 billion through an XRP (XRP)-focused digital asset treasury vehicle, which would rank as the largest XRP-denominated corporate treasury ever assembled, according to a CoinDesk report published May 30. The planned vehicle arrives as investor appetite for token accumulation stocks has softened markedly after a strong first quarter for the sector.
The XRP Treasury Raise
The proposed vehicle would follow the model pioneered by MicroStrategy (MSTR), which built a multi-billion-dollar Bitcoin (BTC) treasury on the back of equity raises and convertible notes.
Ripple’s version would be XRP-native, concentrating exposure in its own asset rather than a neutral reserve cryptocurrency. No formal filing has emerged as of May 30, and terms of the raise have not been made public.
CoinDesk cited unnamed sources familiar with the matter.
The scale of the proposed vehicle separates it from existing XRP treasury structures. Prior XRP-linked treasury efforts have operated well below the $1 billion threshold, and the new vehicle would set a benchmark for single-token corporate accumulation outside of Bitcoin and Ethereum (ETH).
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Background
Ripple is the San Francisco-based company behind the XRP Ledger, a blockchain network designed for fast, low-cost cross-border payments.
Ripple has held large quantities of XRP in escrow since the token’s inception and releases a portion each month under a structured schedule.
The company spent years in a legal dispute with the U.S. Securities and Exchange Commission, which filed suit in December 2020 alleging that XRP sales constituted unregistered securities offerings.
A federal court ruled in July 2023 that programmatic XRP sales on exchanges did not constitute securities transactions, a partial victory that cleared the path for renewed institutional interest in the token. The SEC formally dropped its appeal in early 2025, closing the case.
Ripple has expanded its XRP-related products suite since the settlement, launching near-zero-fee dollar-pegged stablecoin RLUSD in December 2024 and integrating the XRP Ledger into multiple payment corridors.
A $1 billion treasury raise would extend that institutional strategy into direct balance-sheet accumulation.
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What to Watch
Investor appetite for token accumulation equities has pulled back since the peak in early 2026, when a wave of Bitcoin and Ethereum (ETH) treasury companies drew outsized equity premiums. The cooling sentiment makes a $1 billion raise more challenging, and the absence of a formal announcement or filing means the vehicle could still change shape or fail to close.
XRP’s price fell close to 3% in the 24 hours to May 30, trading below the $1.30 level as broader cryptocurrency markets faced pressure from U.S.-Iran geopolitical tensions.
A successful treasury raise at scale could provide XRP with a structural demand floor, but until formal terms are public, the report remains sourced only through unnamed channels.
CME Group separately launched nearly around-the-clock trading for XRP futures and options starting May 29, adding regulated derivatives infrastructure that a corporate treasury vehicle would likely rely on for hedging. The two developments together point to deepening institutional XRP market structure, even if the raise itself is not yet confirmed.
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