Ripple Had a Massive October, but XRP Went the Other Way

In October, Ripple expanded its institutional business across prime brokerage, stablecoins, banking, custody, treasury and the XRP Ledger, while XRP fell from about $1.50 to below $1.20 before ending the month near $1.25. Ripple deepened its Brevan Howard prime-brokerage relationship, won final OCC approval for Ripple National Trust Bank, and saw its RLUSD stablecoin pass a $2.5 billion market cap and receive an A2/P-1 Moody’s rating. It also announced a Robinhood partnership and said its annualized product revenue run rate was approaching $900 million, with more than 1,700 institutions using its infrastructure. XRP reached a two-month low after a Binance hack.