Ripple Expands Into Prime Brokerage as XRP ETF Buzz Builds Momentum Across Wall Street

Institutional push converges with growing ETF speculation and infrastructure maturity for XRP

TL;DR

• Ripple launches Ripple Prime, a U.S.-based digital-asset spot prime brokerage for institutional clients after acquiring Hidden Road.
• The platform allows OTC spot trading across assets including XRP and RLUSD, integrating cross-margining with derivatives.
• Growing anticipation over a potential XRP ETF has analysts modeling inflows between $5 billion – $20 billion and projecting crypto price implications tied to XRP’s $158 billion coin market cap.

Ripple Labs has officially unveiled Ripple Prime, a digital-asset spot prime-brokerage platform designed for institutional clients in the United States, marking a significant step in its ongoing expansion into traditional finance infrastructure. The launch, announced on November 3 via Business Wire, follows Ripple’s acquisition of multi-asset prime brokerage Hidden Road Partners, a deal valued at approximately $1.25 billion. The integration grants Ripple an array of brokerage licenses, clearing tools, and risk-management capabilities, positioning it as the first crypto-native company to own and operate a global, multi-asset prime broker spanning FX, fixed income, derivatives, and digital assets.

Ripple Prime opens access for U.S. institutional clients to execute OTC (Over-the-Counter) spot transactions across dozens of major digital assets, including XRP and the Ripple-issued stablecoin RLUSD. A distinctive feature allows clients to cross-margin spot positions with holdings in other asset classes—such as OTC swaps, CME futures, and options—offering consolidated risk exposure within a single counterparty framework. This combination aims to simplify institutional access to digital-asset liquidity, improve collateral efficiency, and provide a smoother bridge between traditional and decentralized markets.

Michael Higgins, International CEO of Ripple Prime, said the new service “complements our existing suite of OTC and cleared derivatives services in digital assets and positions us to provide U.S. institutions with a comprehensive offering to suit their trading strategies and needs.” The company emphasized that Ripple Prime builds on its payments, custody, and liquidity network, where XRP and RLUSD already serve as operational assets for settlements and capital efficiency. By consolidating these elements under one platform, Ripple aims to lower barriers for institutional traders while embedding regulatory compliance at the core of its architecture.

Market analysts have linked Ripple’s institutional expansion to the growing conversation around an XRP-based exchange-traded fund (ETF), which has captured notable attention on Wall Street. A recent analysis presented price-projection models estimating that if $5 billion in ETF inflows entered the market, XRP’s crypto price could rise to about $2.72 given a $158 billion coin market cap and a circulating supply of roughly 60 billion tokens. Under a $20 billion inflow scenario, the model projects an increase toward $2.97. These calculations, while simplified, illustrate how capital flows into ETFs could alter liquidity dynamics across the broader crypto price index if XRP trading demand scales at institutional volume.

Observers note that Ripple’s recent moves signal an ambition to evolve beyond payments and remittance technology into a full-stack financial-services provider. The Hidden Road acquisition and the Ripple Prime rollout mark a decisive pivot toward unifying spot, derivatives, and financing services within one institutional framework. Analysts also point out that building prime-brokerage infrastructure could strengthen the foundation for regulated investment products like ETFs, which depend on reliable custody, execution, and liquidity pipelines to operate efficiently.

Despite optimism surrounding an XRP ETF, market strategists caution against overstating the immediate impact on token valuation. ETF inflows do not always translate directly into spot demand, as liquidity depth, token-release schedules, and broader market sentiment still determine net price movements. Recent volatility around leveraged XRP products has reinforced those risks, with one ETF variant seeing 215,000 shares traded on its first day and a 13% drop as the underlying asset declined 5%. Analysts stress that while infrastructure progress enhances credibility, sustainable crypto price gains will hinge on real institutional participation rather than speculative positioning.

This article has been refined and enhanced by ChatGPT.