Ripple Prime has expanded its mandate with Brevan Howard while building a brokerage that finances stock derivatives, clears trades and accepts digital collateral.
The scenario depends on XRP maintaining its retest zone.
The platform offers institutional clients exposure to U.S.-listed equities, indices and digital assets following Ripple's $1.25 billion acquisition of Hidden Road.
XRPL is approaching two major upgrades that add atomic transaction batches and delegated account permissions for institutional workflows.
Ripple Prime is moving into leveraged ETF swap financing, pushing Ripple deeper into a Wall Street business traditionally dominated by major banks.
Ripple Custody now supports Canton Coin and CIP-56 tokens, expanding Ripple's institutional infrastructure beyond the XRP Ledger.
The company expects to close its Armada Acquisition Corp. II combination on or about Oct. 9, subject to closing conditions and Nasdaq requirements.
XRP traded at $1.4251 as Evernorth moved its expected XRPN Nasdaq debut to October 12, extending a key event window amid mixed technical signals.
Ripple Prime now finances leveraged stock ETFs, including a Sandisk fund paying about 8% a year, as XRP trades near $1.40 after a 5% drop.
XRP traded near $1.422 Thursday and was down more than 6% for the week as negative funding and a sub-1 long-to-short ratio signaled bearish positioning.
Ripple has entered the leveraged exchange traded fund financing business through Ripple Prime, providing funding to investment products that seek to deliver multiples of the daily performance of individual stocks and market indexes. According to an Oct.
Ripple Prime is financing funds tied to Nvidia, Sandisk and major indexes through total return swaps, expanding the company's institutional lending business.