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▲ XRP
Ripple has entered the top 10 of the US private unicorn company index. Being placed at the top of the index alongside super-large private companies such as SpaceX, OpenAI, and Anthropic, it has demonstrated a unique presence among cryptocurrency companies.
According to the cryptocurrency media outlet The Crypto Basic on May 8 (local time), Ripple ranked 6th in Lagniappe Labs' Prime Unicorn Index with a company valuation of $26.09 billion and a 5% weighting. Ripple is the only cryptocurrency company among the top 10 companies in the index.
The Prime Unicorn Index tracks the stock performance of venture-backed private companies in the US with a valuation of $1 billion or more. It applies a modified market capitalization method and serves as a benchmark for financial products linked to private companies. The index base date is January 20, 2021, the official launch date is January 17, 2024, and its constituent stocks are rebalanced annually in January, April, July, and October.
Currently, the Prime Unicorn Index includes 232 companies. The combined market value of the companies included in the index is $3.433 trillion. The annualized volatility of the index was recorded at 19.75% for 1 year, 16.12% for 3 years, and 16.23% for the entire period.
As of April 15, 2026, SpaceX was ranked 1st in the index. SpaceX recorded a company valuation of $1.253 trillion and a 10% weighting. OpenAI ranked 2nd with a company valuation of $917.31 billion and a 9% weighting, and Anthropic took 3rd place with $332.37 billion and an 8% weighting.
Databricks ranked 4th with a company valuation of $152.34 billion. Anduril Industries ranked 5th with $58.19 billion and a 6% weighting. Ripple Labs secured 6th place with $26.09 billion and a 5% weighting.
Following Ripple, Cerebras Systems was listed with $23.33 billion and a 1.9% weighting. People Center recorded $16.36 billion and a 1.3% weighting, and Devoted Health followed with $16.01 billion. Neuralink completed the list of top 10 companies with $15.25 billion.
Ripple's company valuation is determined not by listed stock transactions but through investment rounds, tender offers, secondary market transactions, and share repurchases. Ripple raised $200 million in its Series C round in 2019, at which time its valuation was estimated at approximately $10 billion. In early 2024, it was valued at $11 billion to $11.3 billion through tender offers and share repurchases.
On November 5, 2025, Ripple closed a $500 million late-stage strategic investment round with participation from Pantera, Citadel Securities, and Galaxy. At that time, the post-investment valuation was $40 billion, and some secondary stock sales were also included.
In March 2026, Ripple initiated a $750 million share repurchase and tender offer. This transaction valued Ripple at $50 billion, 25% higher than the November 2025 valuation. The tender offer continued until April 2026.
However, the Prime Unicorn Index reflected Ripple's valuation at approximately $26 billion in Q2 2026. The Crypto Basic reported that this difference stemmed from the index's calculation method. The Prime Unicorn Index primarily uses secondary market transaction data and verified primary and secondary transactions, while the $50 billion valuation came from Ripple's share repurchase and tender offer prices.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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