Key Takeaways
- Ripple President Monica Long said the recent acquisition of Hidden Road marked a significant milestone.
- XRP is eyeing a bullish breakout, but the token and RLUSD stablecoin will remain central to Ripple’s financial infrastructure development.
- Derivatives marketplace CME Group will launch XRP futures on May 19, boosting institutional interest.
Recent comments by Ripple Labs President Monica Long have spurred a fresh dose of excitement within the XRP community with stunning XRP product updates, including expansion plans and the company’s latest acquisition.
During a recent BBC interview, President Monica Long highlighted the company’s acquisition of global prime brokerage firm Hidden Road and its products. She also predicted that 2025 would be the company’s best year, boosting the token’s market sentiment.
During the interview, Monica Long explained that the acquisition cost Ripple Labs $1.25 billion in what she called a strategic move. Ripple made the acquisition to strengthen its financial infrastructure for services such as global payments, token custody, and asset tokenization, all of which are tailored for enterprise use.
Competitive Edge in Delivering Services
Long explained that the company’s steps align with its long-standing goal of creating financial infrastructure targeting institutional investors. Citing Ripple’s global presence, the global payment company’s president noted that they had built their network “brick by brick” with powerful liquidity tools and real-time settlement capabilities. In the meantime, she revealed that the firm had acquired at least 60 regulatory licenses globally, giving it a competitive edge in delivering end-to-end financial services.
Meanwhile, Monica Long emphasized that the decision to integrate Hidden Road’s services was in tandem with Ripple’s ecosystem. She said integrating Hidden Road’s post-trade settlement via the XRP Ledger (XRPL) and Ripple’s institutional-grade custody was a significant milestone that would unlock major efficiencies. According to the Ripple President, these developments lay the groundwork for Ripple’s most successful year yet.
Add To the Existing Market Optimism
According to Monica Long, Ripple had cut a niche as a powerful entity capable of handling the full financial flow of the organization, from sourcing liquidity to last-mile payouts. As a result, she maintained that the company’s primary products, XRP and stablecoin SLUSD, which were in the pipeline, would remain key to this new infrastructure. As the company’s list of services grows, she predicted that the company’s start would only shine brighter. She stated:
“2025 is shaping up to be the best year yet for Ripple.”
Commenting on the development and the positive updates from Monica Long, Ripple CEO Brad Garlinghouse added that the decision by Derivatives Exchange CME Group to launch XRP futures set to launch on May 19 would only add to the existing market optimism. As detailed in its announcement, the futures will offer micro and larger contracts targeting institutional and retail investors. Ripple CEO Garlinghouse said:
“This is a crucial and exciting step in the continued growth of the XRP market!”
Conclusion
Following Monica Long’s reports of the XRP products update, analysts have asked the community to watch for a potential 25% breakout that could propel the token’s price to $2.74. The experts predict that a move above $2.22, which is the short-term resistance, is expected to open the path toward $2.50.
Frequently Asked Questions
What is the high price of XRP at all times?
The current market cap of XRP is $128.668B, meaning the asset is highly valued by the market. The token’s all-time high of XRP is $3.84.
What affects XRP price?
Like all other cryptocurrencies, the price of XRP is affected by factors like availability, trader sentiment, use cases, and regulatory changes that can affect Ripple XRP prices.
Do any banks use XRP?
While many banks and financial institutions have partnered with Ripple, they mostly use the company’s payment network, RippleNet, but not the XRP token. However, a handful of institutions are confirmed to be using XRP, but banks have remained hesitant due to regulatory concerns and competition from stablecoins and CBDCs.
