Ripple has spent years building payment infrastructure across the global financial system. Now it is competing directly with Wall Street’s biggest banks.
The Wall Street Journal captured this shift in a report published October 7, noting 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.”
That framing from one of the world’s most influential financial publications is significant. It signals that Ripple is no longer being evaluated as a crypto company on the periphery. It is now a genuine institutional competitor.
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
The path runs through Hidden Road. Ripple acquired the prime brokerage firm for $1.25 billion in 2025. It was later rebranded to Ripple Prime. The business now provides clearing, financing, and prime brokerage services to institutions across traditional and digital asset markets.
Ripple Prime has moved quickly. It secured a deal to provide multi-asset prime brokerage services to Brevan Howard, a major global hedge fund. Noel Kimmel, president of Ripple Prime, called the partnership “recognition of our strong competitive position and cross-asset capabilities.”
The business has also established itself in the leveraged ETF market, a sector long controlled by large banks. Ripple earns financing fees by acting as a swap counterparty. According to the WSJ, one fund’s financing terms with Ripple amounted to roughly 8% annualised. Morningstar Direct data cited in the report shows 593 leveraged ETFs currently hold over $256 billion in assets under management.
Nonbank firms like Ripple operate under different risk rules than traditional banks, which gives them a structural advantage in this space. Kimmel told the WSJ the ETF financing business is “definitely a growing and meaningful part of our business.”
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Why This Is Significant for XRP
The WSJ released this report when XRP was trading close to $1.42. The recognition is important for the token’s long-term positioning. Ripple’s credibility as an institutional operator directly supports the case for XRP. Ripple Prime works with Ripple’s XRP-powered payment infrastructure. As Ripple Prime grows its institutional client base, demand for XRP grows with it.
Wall Street validation also changes the conversation around XRP in investment circles. The WSJ describing Ripple as a competitor to major banks rather than a crypto-adjacent payments company changes how institutional investors see the entire ecosystem Ripple has built.
Recognition From the Right Places
WSJ Markets shared the story on its official X account, describing Ripple as a company now edging into Wall Street’s terrain. For a company that has spent years navigating regulatory uncertainty, this report and recognition represents meaningful progress. Ripple is no longer knocking on Wall Street’s door. It is operating inside it.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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