Ripple launched institutional perpetual swaps referencing more than 100 traditional financial markets on Oct. 15, extending its Ripple Prime brokerage arm into around-the-clock trading and settlement of real-world asset derivatives.

The offering brings stocks, ETFs, indices, gold and silver into a perpetual swaps format for institutional clients, with trading and settlement operating around the clock. The contracts are linked to Trade.xyz perpetual futures listed on Hyperliquid, a decentralized derivatives trading venue. Virtu is among the institutions already trading the products, according to Ripple's announcement on X. The move also introduces cross-margining across supported asset classes and allows eligible clients to use RLUSD as collateral. Ripple did not announce an XRP settlement requirement.

Ripple Prime Opens More Than 100 Traditional Asset Markets

Ripple Prime now offers real-world asset swaps referencing more than 100 traditional financial markets, including equities, stock indices, ETFs, precious metals, energy products and foreign exchange. Gold and silver fall within the metals markets available through the new service.

The contracts belong to the perpetual derivatives category, a format popularized in cryptocurrency markets, in which positions carry no fixed expiration date. Unlike traditional futures with scheduled settlement dates, perpetual contracts remain open until traders close their positions or other contract conditions take effect.

The service supports trading and settlement around the clock, even when the exchanges for the underlying assets are closed. Traditional equity and commodity exchanges operate during fixed regional sessions, while cryptocurrency venues have traded continuously, and the swap format extends that continuous coverage to traditional-asset derivatives. The launch adds instruments to Ripple Prime's existing institutional brokerage operations. Ripple completed its acquisition of Hidden Road, an institutional prime brokerage, in 2025 and previously added Hyperliquid access for institutional clients, laying the groundwork for the derivatives offering.

Trade.xyz Perpetuals Reference Markets on Hyperliquid

Ripple Prime acts as principal in the swap transactions. Rather than buying shares or gold on Hyperliquid, institutional clients enter contracts with the brokerage. Ripple Prime then references perpetual futures that Trade.xyz lists on Hyperliquid.

That arrangement keeps the client relationship with Ripple Prime while using the external futures markets to determine the swaps' reference exposure. Institutions can manage positions tied to traditional assets outside regular stock exchange hours, although the service does not extend the underlying exchanges' opening hours or grant clients ownership of the referenced securities. Trading in perpetual futures linked to real-world assets has increased this year.

Virtu Joins as Ripple Prime Accepts RLUSD Collateral

Virtu, a global electronic trading firm, is among the first named institutional participants using the new contracts. Scotte Moegling, Virtu's head of business development for digital assets, said the firm's expansion into new liquidity markets includes Ripple Prime's cross-margining services.

Ripple Prime also permits eligible clients to use Ripple USD (RLUSD), the dollar-linked stablecoin issued by Ripple, as collateral for the swaps. The stablecoin is part of the brokerage's collateral options, though access depends on the jurisdiction. Clients can consolidate risk management and margin calculations with a single counterparty rather than maintaining separate arrangements for each supported market.

Ripple currently offers the product through its Credit Intermediation Vehicle license in the British Virgin Islands. The company plans to extend availability to additional regions but has not announced specific launch dates. The pace of that regional rollout, and additional trading firms join Virtu on the platform, are among the developments market participants can watch as the service expands.

Analyst Watches $1.25 XRP Price Support

Meanwhile, XRP, the native token of the XRP Ledger, traded near $1.34 at the time of publication, after touching $1.284 earlier in the session, and market data showed a weekly decline of about 6.5%. The token also traded near its lower daily Bollinger Band at $1.3077, while its relative strength index stood at 36.84.

Crypto analyst Ali Martinez identified $1.25 as a possible support area within an hourly price channel. His analysis placed potential recovery levels around $1.42 and $1.60, provided buyers respond near the channel's lower boundary. CoinGlass data showed XRP liquidation concentrations around $1.39 and $1.43, above the quoted trading price.

This article is for informational purposes only and does not constitute financial or investment advice.

Source: The Market Periodical