<ul><li>Ripple announced the $1.25 billion acquisition of Hidden Road, becoming the first crypto company to own and operate a global, multi-asset prime broker.</li><li>Hidden Road will use XRPL for clearing trades and Ripple's stablecoin RLUSD as collateral across its prime brokerage services.</li><li>Ripple CEO Brad Garlinghouse sees the deal as an opportunity for crypto to access the largest traditional markets and for XRP and XRPL to showcase their capabilities.</li><li>Despite the acquisition news, XRP price dropped by 10% due to a wider crypto market slump amid economic concerns and trade war fears.</li></ul>

XRP Dumps 10% Despite Ripple’s $1.25B Prime Brokerage Acquisition

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