Ripple Labs Bolsters XRP Ecosystem with $1.25B Acquisition of Prime Broker Hidden Road
In a landmark move to strengthen its position in digital finance, Ripple Labs has acquired prime brokerage firm Hidden Road for $1.25 billion. The acquisition aims to bridge traditional and crypto markets, leveraging Hidden Road’s extensive institutional network to enhance Ripple’s XRP-based solutions.
Ripple Labs Acquires Prime Broker Hidden Road For $1.25 Billion
Ripple Labs, the American tech company, has acquired prime brokerage firm Hidden Road for $1.25 billion. The deal is seen as a strategic opportunity to bridge the gap between traditional markets and digital finance. Hidden Road works with over 300 top financial institutions and clears approximately $3 trillion annually. Ripple believes this acquisition will provide the leverage needed to become more effective within the broader financial system.
First US-traded XRP ETF Launches with Terrific Response
The first XRP exchange-traded fund (ETF) in the US, the Teucrium 2x Long Daily XRP ETF (XXRP), launched on April 8 and recorded a ’terrific response’ on its opening day, according to Teucrium CEO Sal Gilbertie. Speaking on the Crypto Prime podcast, Gilbertie noted that this was Teucrium’s most successful ETF launch to date in terms of first-day activity. The fund is designed to deliver twice the daily performance of XRP through swap contracts and was approved for listing on the New York Stock Exchange (NYSE) shortly after changes in US Securities and Exchange Commission (SEC) leadership.
XRP Could Soar 200% by Year’s End: Standard Chartered
Standard Chartered has initiated coverage of XRP, predicting that the native token of the XRP Ledger and fourth-largest crypto by market value could rise about 200% from its current level by year’s end, potentially hitting $5.50 a piece by the end of 2025. XRP, a decentralized open-source blockchain created by the founders of Ripple Labs, was recently trading for $1.80, according to CoinGecko, after dropping in price by 6% over a 24-hour period. The bank’s digital assets researcher Geoff Kendrick wrote that XRP is uniquely positioned at the heart of one of the fastest-growing uses for digital assets—facilitation of cross-border transactions. Kendrick also noted that XRP price gains can keep pace with Bitcoin in real terms.
Ripple-Cardano Tokenization Rumor: Can XRP Price Rally?
Ripple’s new tokenization ad featuring Cardano’s logo has sparked speculation about a potential partnership. The partnership rumors come as Ripple positions itself as a major player in real-world asset (RWA) tokenization, a market projected to reach $18 Trillion by 2030. XRP’s price action shows it at a crucial pivot, with the altcoin price breaking below $1.90 support and testing lower Fibonacci zones. According to CasiTrades’ Elliott Wave analysis, XRP price completed a Wave 2 correction within the golden pocket, ranging between the 0.618 and 0.65 Fibonacci retracement levels.
