Ripple Acquires Hidden Road for $1.25 Billion to Boost Institutional Crypto Adoption

Ripple has made a significant move in the cryptocurrency industry by acquiring Hidden Road, a leading prime brokerage firm, for $1.25 billion. This acquisition positions Ripple as the first crypto company to own and operate a global multi-asset prime broker, aiming to accelerate institutional adoption of cryptocurrencies. The deal, which includes settlement through cash, XRP tokens, and Ripple stock, is expected to close in the coming months upon receiving regulatory approval. Marc Asch, the founder of Hidden Road, will continue to oversee the brokerage as part of Ripple’s operations. Ripple plans to invest billions into scaling Hidden Road’s operations to meet the increasing demand for prime brokerage services in crypto markets.

This acquisition is seen as a major milestone in the adoption of digital assets, bridging the gap between traditional finance and decentralized systems. Ripple CEO Brad Garlinghouse highlighted that this move brings together the traditional with the decentralized, reinforcing Ripple’s plans to broaden the scope of cryptocurrency adoption. However, the XRP price has experienced short-term volatility due to broader market concerns, with fluctuations between a resistance level at $1.97 and a support level of around $1.72. On April 8, the MACD indicator suggested a bullish trend early in the session, but conditions changed as the RSI entered the overbought territory, leading to a bearish reversal. By April 9, XRP regained support at the $1.72 level, briefly drifting back into oversold territory.

As of the morning of April 9, XRP’s short-term outlook was neutral, with price action hovering around the $1.83 mark. The barriers are set for a retest at $2.00 if buying pressures prevail, while the stronghold is expected to be around $1.72. The current integration of Ripple’s technology with Hidden Road, along with the overall growth of crypto, should fundamentally support XRP, potentially forcing the coin through strong technical resistance. Analysts predict that XRP could reach double-digit valuations by year-end, driven by increased adoption, utility, and regulatory clarity.