Here Are Ripple’s 5 Big Moves Since 2023 and What They Mean for XRP

Brad Garlinghouse recently outlined all significant acquisitions made by the company in recent years.

Ripple has had a big year ever since 2024’s US presidential elections, when Donald Trump won his second victory to return to office in early 2025. Given his election campaign and the countless pro-crypto promises he made, including firing then-SEC Chair Gary Gensler, who led the war against the industry and Ripple in particular, it was evident that the winds would shift substantially, especially for US-based companies.

The Brad Garlinghouse-led entity has been at the forefront of beneficieries, mostly since the tides at the SEC changed and the four-year-long battle between the two sides finally concluded in a positive way for Ripple. But even before the end of the lawsuit, the company had started to make some bold acquisition moves, and Garlinghouse acknowledged them on Friday in a post on X.

With today’s close of Hidden Road (now Ripple Prime), Ripple has announced 5 major acquisitions in ~2 years (GTreasury last week, Rail in August, Standard Custody in 2024, Metaco in 2023). As we continue to build solutions towards enabling an Internet of Value – I’m reminding you… https://t.co/O5Uub7ulw9

— Brad Garlinghouse (@bgarlinghouse) October 24, 2025

5 Big Purchases

It all started in May 2023 with a $250 million deal to acquire Metaco, a Swiss-based crypto custody provider. It allowed Ripple to enhance its enterprise offerings, providing customers with the technology to custody, issue, and settle any tokenized assets.

Less than a year later, another purchase made the headlines when Ripple’s President, Monica Long, outlined the acquisition of Standard Custody & Trust Company, an enterprise-grade regulated platform for cryptocurrencies.

Then came 2025, when the number of deals skyrocketed to three (so far). Rail, a platform built to help businesses move money with speed, transparency, and trust using stablecoins and fiat together, was bought for $200 million.

Aside from highlighting plans to create its own billion-dollar treasury company, Ripple also acquired the treasury software provider GTreasury for $1 billion to strengthen corporate finance relationships.

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The most expensive was the purchase of the prime broker Hidden Road. Although it was initially announced in April, the deal became official earlier this week, and the platform is now known as Ripple Prime.

“We’re pleased to share that our acquisition of Hidden Road is officially complete, making Ripple the first crypto company to own and operate a global, multi-asset prime broker – bringing the promise of digital assets to institutional customers at scale,” reads the firm’s statement.

XRP Impact?

The XRP Army rejoiced with each purchase and the SEC lawsuit conclusion, but some questioned the positive effects on the underlying asset, which peaked in July but has dropped by roughly 30% since then. CryptoSensei directly asked Garlinghouse about XRP’s role in the overall Ripple infrastructure, especially since the introduction of the project’s stablecoin (RLUSD) at the end of last year.

Brad, many in the XRP community are trying to understand how the clearing and settlement process will work now that Ripple has integrated Hidden Road under Ripple Prime.

We’ve heard RLUSD mentioned as the core settlement asset — but is that RLUSD operating on the XRP Ledger or…

— CryptoSensei (@Crypt0Senseii) October 24, 2025

Another user tried to explain that XRP is used for liquidity, and its true purpose is to serve as a liquidity pool. A higher USD valuation would make it easier to complete transactions in seconds, having to use less XRP. RLUSD is backed in a one-to-one ratio with the greenback, but it doesn’t solve the liquidity problem, the user said.