Ripple Launches Prime Broker Ripple Prime, XRP Surges to $2.65
Ripple has completed its $1.25 billion acquisition of non-bank prime broker Hidden Road, rebranding it as Ripple Prime and becoming the first crypto firm to operate a global, multi-asset prime brokerage. Ripple Prime offers institutional clients trading, financing, clearing and market access across foreign exchange, fixed income and derivatives, while integrating XRP and Ripple’s stablecoin RLUSD. RLUSD is already used as collateral in brokerage products, with transfer volumes exceeding 25 million and rising.
This deal follows Ripple’s earlier purchases of Metaco, Standard Custody & Trust, Rail and GTreasury, underscoring its push into institutional markets. The acquisition announcement, coupled with renewed institutional interest including Evernorth’s $1 billion funding, has driven XRP’s price up over 11% to $2.65, pushing its market cap above $159 billion and overtaking BNB as the fourth-largest cryptocurrency. On-chain data show reduced whale selling, negative spot netflows and record transfer activity, signaling strong accumulation. Technical indicators point to support at $2.15 and resistance at $2.80, suggesting potential for further upside in both the short and long term.
Bullish
Ripple’s acquisition of Hidden Road and rebranding to Ripple Prime mark a significant strategic expansion into institutional prime brokerage, directly integrating XRP and its stablecoin RLUSD into trading, financing and clearing operations. This unique positioning has spurred renewed institutional interest, as evidenced by Evernorth’s $1 billion funding, and triggered strong on-chain accumulation, reduced whale selling and negative netflows. The resulting 11% price increase, market cap surge past $159 billion and overtaking of BNB reflect immediate market confidence. Technical support at $2.15 and resistance at $2.80 suggest that XRP could continue its uptrend in the near term while strengthening its long-term institutional foothold.