Ripple Expands Institutional Footprint As XRP Drops Below $2.30

Core Insights - Ripple is expanding its institutional presence through strategic acquisitions and new product offerings, indicating preparation for a potential XRP ETF launch [1][5][6] Group 1: Product Developments - Ripple launched Ripple Prime, a digital asset spot prime brokerage platform in the U.S., following the acquisition of multi-asset broker Hidden Road [1][2] - Ripple Prime allows U.S.-based institutions to execute OTC spot trades across major digital assets, including XRP and RLUSD, and provides access to forex, derivatives, swaps, and fixed income products [2] - The platform features cross-margining capabilities, enabling clients to offset OTC spot exposure with holdings such as CME futures and options [3] Group 2: Strategic Acquisitions - Ripple acquired crypto wallet provider Palisade to enhance its custody and payments infrastructure [3][4] - Palisade's wallet-as-a-service technology will integrate into Ripple Custody, facilitating secure management of stablecoins, tokenized assets, and multi-chain DeFi integrations for banks and corporates [4] Group 3: Market Position and Partnerships - Ripple aims to become a leader in crypto-native financial infrastructure, having made earlier acquisitions such as Metaco (2023), Hidden Road ($1.25 billion), Rail ($200 million), and GTreasury [5] - The company holds over 75 global regulatory licenses and partners with institutions like BBVA, DBS, and Société Générale's crypto division [5] Group 4: ETF Speculation - Speculation is increasing regarding the imminent launch of an XRP ETF, with Canary Capital submitting an updated S-1 filing [6] - Bitwise and Grayscale have disclosed ETF fees of 0.34% and 0.35%, respectively, with expectations for spot XRP ETFs to launch within the next two weeks, possibly around November 13 [6]