Having spent years developing payment infrastructure throughout the international financial network, Ripple is now going toe-to-toe with the largest banks on Wall Street.
An October 7 report from The Wall Street Journal highlighted this evolution, observing that Ripple “has expanded into nearly every corner of the crypto industry, from stablecoins to asset custody” and is “edging into Wall Street’s terrain.”
Such characterization from a premier global financial publication carries real weight. It demonstrates that Ripple is no longer viewed as a peripheral crypto enterprise, but rather as a true institutional rival.
Ripple has expanded into nearly every corner of the crypto industry, from stablecoins to asset custody. Now it is edging into Wall Street’s terrain. https://t.co/py72Dvwsev
— WSJ Markets (@WSJmarkets) October 7, 2026
How Ripple Got Here
This trajectory traces back to Hidden Road. In 2025, Ripple purchased the prime brokerage firm for $1.25 billion, subsequently changing its name to Ripple Prime. Today, the division delivers clearing, financing, and prime brokerage solutions to institutional clients spanning both traditional and digital asset landscapes.
Ripple Prime has wasted little time scaling operations, landing an agreement to offer multi-asset prime brokerage services to global hedge fund giant Brevan Howard. Ripple Prime President Noel Kimmel described the collaboration as “recognition of our strong competitive position and cross-asset capabilities.”
The firm has additionally carved out a presence within the leveraged ETF sector, a domain traditionally dominated by major financial institutions. By functioning as a swap counterparty, Ripple generates revenue via financing fees. The WSJ noted that one fund secured financing terms with Ripple totaling approximately 8% annualized. Furthermore, figures from Morningstar Direct referenced in the coverage indicate that 593 leveraged ETFs currently manage over $256 billion in assets.
Because nonbank entities such as Ripple adhere to different risk regulations than conventional banks, they maintain a distinct structural edge within this arena. Kimmel noted to the WSJ that the ETF financing division is “definitely a growing and meaningful part of our business.”
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— TimesTabloid (@TimesTabloid1) June 15, 2025
Why This Is Significant for XRP
Publication of the WSJ article coincided with XRP trading near $1.42. This acknowledgment holds substantial weight for the asset’s long-term outlook. Ripple’s established reputation as an institutional player reinforces the underlying thesis for XRP. Because Ripple Prime integrates with payment infrastructure powered by XRP, the expansion of Ripple Prime’s institutional clientele naturally drives increased demand for the token.
Furthermore, validation from Wall Street transforms investment discussions surrounding XRP. When the WSJ labels Ripple a competitor to leading banks instead of a mere crypto-focused payments vendor, it shifts how institutional investors evaluate the entire corporate ecosystem Ripple has constructed.
Recognition From the Right Places
The official X account of WSJ Markets distributed the piece, highlighting that Ripple is now encroaching upon Wall Street territory. Following years spent managing regulatory hurdles, the publication and its assessment mark significant milestones. Ripple has moved past simply knocking on Wall Street’s door and is now actively conducting business inside.