XRP News Today: Ripple's Prime Brokerage Expansion Drives XRP Institutional Adoption

Ripple, the XRP-led blockchain company, is expanding its institutional offerings with the launch of a digital asset spot prime brokerage for U.S. clients, marking a significant step in its financial services evolution following the $1.25 billion acquisition of Hidden Road, a multi-asset prime broker, according to a Yahoo Finance report. The new platform, rebranded as Ripple Prime, enables over-the-counter (OTC) spot trading in major digital assets, including XRP and Ripple's RLUSD stablecoin, while integrating derivatives, swaps, fixed income, and foreign exchange products, according to another Yahoo Finance report. This move allows clients to cross-margin OTC spot positions alongside swaps and CME-listed futures, enhancing portfolio flexibility.

The expansion aligns with broader momentum in XRP treasuries, as public companies increasingly allocate capital to digital assets. Notable examples include Trident Digital's $500 million XRP treasury plan in June and Evernorth's $1 billion funding through a business combination with Armada Acquisition Corp. II, creating the largest public XRP treasury company, according to a TradingView report. Evernorth, now trading on Nasdaq as XRPN, will be a focal point at Ripple's Swell event on November 4–5, where CTO David Schwartz—also a strategic advisor to Evernorth—will discuss the future of XRP and digital asset treasuries (DATs). Schwartz is transitioning to Ripple's board of directors, signaling a strategic shift as he steps back from daily CTO duties.

Parallel developments in the XRP ecosystem include regulatory progress. Bitwise Asset Management's updated S-1 filing for an XRP ETF suggests a potential 20-day launch window if the SEC approves, with competitors like VanEck and Fidelity also accelerating filings, according to a Coinpedia report. Analysts speculate that an ETF approval could push XRP toward its $3 psychological price level, though current resistance near $2.75 remains a key hurdle.

Ripple's institutional push is further bolstered by its $1 billion acquisition of GTreasury, a fintech firm specializing in treasury management systems, and the integration of RLUSD into humanitarian aid and retail partnerships, such as Uphold's XRP rewards program, as reported by Yahoo Finance. The company's expanding infrastructure aims to position it as a comprehensive solution for institutional trading, leveraging its regulatory licenses and Hidden Road's existing OTC swap capabilities, according to another Yahoo Finance report.

As XRP treasuries and institutional adoption gain traction, Ripple's strategic moves—spanning product diversification, regulatory engagement, and ecosystem growth—underscore its ambition to solidify XRP's role in global finance.