Ripple’s Bid for Circle Rejected, Impacting XRP Valuation

Ripple’s ambitious bid for Circle, valued at $5 billion, was ultimately rejected, leading to a notable drop in XRP’s valuation. This rejection signals the intensified competition in the stablecoin market. Ripple, led by CEO Brad Garlinghouse, had proposed purchasing Circle, issuer of USDC, but the offer was deemed undervaluing the company. Ripple is now shifting its focus towards acquisitions, while Circle remains committed to its IPO. ]