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Ripple Prime head Marc Asch to step down, Noel Kimmel named successor

Marc Asch, the head of Ripple Prime, is stepping down about a year after the prime brokerage, formerly Hidden Road, was acquired by the crypto company best known for its cross-border payments business.

“We’re extremely grateful to Marc for everything he did as founder of Hidden Road, now Ripple Prime,” a company spokesperson said in an email.

“As he moves on at the end of the year to pursue new opportunities, Noel Kimmel, SVP, Ripple Prime is stepping up to lead the business and team within Ripple,” the spokesperson added.

California-based Ripple announced its $1.25 billion acquisition of Hidden Road in April 2025. CoinDesk first reported that the prime broker was in talks to be acquired. It completed the deal and renamed the business Ripple Prime that October.

Ripple Prime provides institutional clients with prime brokerage, clearing and financing across digital assets and traditional markets, including foreign exchange, derivatives and fixed income.

The business expands Ripple’s reach into institutional trading and uses the company’s dollar stablecoin, RLUSD, as collateral for some prime brokerage products, according to Ripple.

Ripple, which has a close association with XRP, has expanded into custody, stablecoins, prime brokerage and corporate treasury management.

Alongside Hidden Road, Ripple’s acquisition push included a $1 billion deal for treasury software provider GTreasury and a $200 million deal for stablecoin payments platform Rail in 2025, broadening the services it offers banks, asset managers and corporate clients.

Hidden Road was founded in 2018 by Asch, who previously worked at Steve Cohen’s hedge fund firms SAC Capital and Point72 Asset Management.
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XRP Ledger's Payments Volume Crosses Historic 1 Billion Threshold

According to XRPScan, XRP Ledger payments volume rises again, reaching 1.16 billion XRP on November 9.

$XRP 's payment volume is up 207.4% over 24 hours, sitting far below its all-time high of 7 billion. Payments volume growth is substantial, but not record-breaking by any means, with the 30-day average at 580.6 million XRP.

Volume surges with volatility
It's important to keep in mind that it's coming due to the transition from the weekend trading session to Monday, and volume spikes are normal here. This isn't the first spike either: on October 30, the ledger moved around 1.8 billion XRP.
Late September was even busier, with payments volume reaching around 1.9 billion xrp on September 25, so the current growth is nothing new for the ledger. In October, things were essentially the opposite: volume was struggling to stay above 800 million $XRP , and on October 24 it almost dropped to zero.

$XRP 's price is volatile
$XRP price, however, is moving the other way, with the bear market getting worse over the past weeks and the asset losing a substantial part of its value.

Price is already struggling, trading at $1.09, and could be teetering on the edge of the $1 threshold, which, if broken, essentially enables a rapid decrease. xrp hasn't been below $1 since mid-August, when it dropped under that level for the first time since November 2024. If the threshold breaks this time, the drop most likely won't be a short one, as the bear market keeps aggravating.

Growing payments volume reflects growing fear among investors, who are most likely moving funds to exchanges in order to liquidate their coins. Volume is already going back down towards 300 million $XRP on November 10, though the day isn't over yet, so the spike might be short-lived.

Payments volume rises, but so does the bear market pressure, with a possibility of a further downturn that can make things worse than they already are.#Write2Earn #xrp $XRP

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XRPL Leads as RLUSD Hits New ATH Weekly Volume of $11B+

The XRP Ledger accounted for the largest share of activity as Ripple’s RLUSD stablecoin reached a new all-time high in weekly volume across its supported networks.

Notably, the milestone confirms the growing level of $RLUSD activity on the XRPL despite Ethereum holding a much larger share of the stablecoin’s circulating supply.

$RLUSD Records Its Highest Weekly Volume Since Launch
Data shows that $RLUSD’s combined weekly volume across the xrp Ledger and Ethereum reached $11.716 billion in the week ending November 1, 2026.
This marks the highest weekly volume the stablecoin has recorded since its launch in December 2024. It also breaks the previous record of $8.285 billion, which $RLUSD recorded in the week ending October 25, 2026.
XRPL leads as $RLUSD sees ATH weekly transfer volume
Interestingly, the XRPL accounted for most of this activity. Of the total $11.716 billion in weekly $RLUSD volume, the xrp Ledger recorded $6.699 billion, representing approximately 57%. Ethereum, meanwhile, handled $5.017 billion, accounting for 42.82% of the total.

The result is particularly noteworthy because Ethereum holds a larger portion of $RLUSD’s circulating supply.

For context, the $XRP Ledger currently holds $860.6 million worth of $RLUSD, representing just 32.3% of the stablecoin’s circulating supply. Ethereum boasts approximately $1.797 billion, giving it a 67.62% share of the supply.

XRPL Records Monthly Volume Lead Over Ethereum
The latest weekly record follows another strong performance by the xrp Ledger in October 2026. Previous reports from The Crypto Basic revealed that the network also processed more monthly $RLUSD transfer volume than Ethereum during that period.

Specifically, the XRPL recorded $20.056 billion in $RLUSD transfer volume in October 2026, while Ethereum processed $15.449 billion. This marked the third month since $RLUSD launched that the xrp Ledger recorded higher monthly volume than Ethereum.#Write2Earn #xrp #XRPL $XRP

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Two Notable Signals in Bitcoin: “Purchases are Increasing, Wallet Numbers are Decreasing!” What Does This Mean for BTC?
The leading cryptocurrency, Btc, has continued its weak performance in recent days and is trading around the 74,000 level

However, despite the weakness in BTC, some Btc holders are not backing down and are continuing to accumulate
According to cryptocurrency analytics company Santiment, wallets holding between 1 and 10 btc have accumulated 10,076 Btc in the last two weeks.
Some Investors Continue Buying Btc!
Santiment noted that despite the drop in Btc price and the worsening sentiment among retail investors, small and medium-sized investors continued to make purchases

According to Santiment, wallets holding 1-100 btc have continued buying over the past 2 weeks, accumulating a total of 14,207 BTC. At this point, wallets holding 1-10 btc have accumulated 10,076 BTC, while those holding 10-100 btc have accumulated 4,131 BTC
In contrast, the number of wallets holding more than zero btc has decreased by approximately 108,700 since Oct 16th. Santiment stated that small investors are withdrawing from the market due to increasing pessimism
Citing historical data, Santiment said that large investors who act against the general market are generally profitable. At this point, Santiment noted that similar retail investor capitulations in the past have been seen before major market recoveries. However, he added that accumulation data alone does not confirm that the market has bottomed out
Retail Investors Are Withdrawing from the Market!
Santiment noted that while some medium and small-sized investors are continuing to hold onto their savings, the number of wallets holding Btc decreased by 109,000. This could be a signal that the retail market is giving in
According to Santiment, the number of wallets holding btc has decreased by approximately 108,700 since its peak of 59.99 million on Oct 16th. This decline is attributed to small investors closing their positions as the Bitcoin price fell below 75,000#Write2Earn #BTC $BTC