XRP
Ripple Prime Launches 100 Perpetual Swap Markets Using RLUSD Collateral
Institutional trading across traditional assets went live through Ripple's brokerage unit without incorporating XRP into the collateral structure.
Ripple Prime launched perpetual swap trading across more than 100 real-world reference assets on October 15, offering institutional clients continuous exposure to equities, exchange-traded funds, metals, energy, and foreign exchange. The trading system utilizes Ripple's RLUSD stablecoin as collateral, with XRP playing no direct role in the transaction structure.
The brokerage service operates through instruments listed by trade.xyz on Hyperliquid, functioning around the clock and allowing clients to net positions across diverse asset classes. Ripple Prime formed following Ripple's $1.25 billion acquisition of prime broker Hidden Road and expanded in October to provide financing for leveraged funds.
Meanwhile, XRP traded at $1.3385 on Thursday evening after rebounding 4.4 percent from an intraday low of $1.2827. The token held a market capitalisation of $84.7 billion and daily turnover of $2.35 billion, remaining the fifth-largest cryptocurrency while continuing to trade beneath the $1.40 level recorded earlier in the week.
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