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Ripple is actively pursuing a strategy of “multiple acquisitions” and significant upgrades to its XRP Ledger (XRPL) blockchain, aiming for features reminiscent of Ethereum.
Acquisition Strategy:
* Ripple’s M&A team is reportedly very busy, with multiple potential acquisitions in various stages.
* This year, Ripple already acquired the prime broker Hidden Road for $1.25 billion, a move that is set to make Ripple the first crypto-focused company to operate a global, multi-asset prime brokerage service. This acquisition aims to integrate XRP and Ripple’s stablecoin, RLUSD, into institutional finance.
* Earlier, Ripple also acquired crypto custody firms Metaco ($250 million) and Standard Custody (undisclosed amount), signaling a focus on strengthening its financial infrastructure services for enterprises.
* While a reported $4-5 billion bid for Circle (issuer of USDC stablecoin) was refused, it highlights Ripple’s ambition to gain stablecoin relevance and institutional validation through strategic acquisitions.
* Ripple’s CEO, Brad Garlinghouse, and President, Monica Long, have emphasized that the company is financially stable and prioritizes growth through acquisitions over a public listing (IPO).
XRP Ledger Upgrades and Ethereum-like Features:
* Ripple is enhancing the XRPL to increase its “programmability” and introduce new functionalities, drawing comparisons to Ethereum’s capabilities.
* Recent upgrades include the release of version 2.5.0 of the XRPL software, which brings:
* Batch transaction support: Allows multiple requests to be processed as a single unit, improving efficiency.
* Enhanced escrow support: Extends escrow capabilities to RLUSD and other cryptocurrency assets on XRPL, enabling automated and secure payouts.
* Permission delegation and permissioned DEX controls: Helps projects comply with regulatory requirements by granting developers authority over exchange participation.
* Multi-Purpose Tokens (MPTs): A more flexible and metadata-rich token standard designed for real-world asset (RWA) tokenization, including bonds and structured financial products.
* A key development is the planned launch of an EVM-compatible sidechain for XRPL in Q2 2025. This will introduce smart contract functionality, similar to Ethereum’s architecture, and aims to attract more developer talent to the XRPL ecosystem.
* Ripple has also partnered with Wormhole, a cross-chain messaging protocol, to bring multichain support to the XRPL and its upcoming EVM sidechain. This integration will enable assets and data to flow freely between XRPL and over 35 other blockchain networks, fostering a more interconnected digital asset ecosystem.
* The XRPL is also focusing on institutional DeFi and compliance upgrades, with features like improved Decentralized Identity (DID) standards and integrated KYC/AML controls directly into the protocol.
These moves collectively demonstrate Ripple’s strategy to bridge traditional finance with blockchain technology, expand the utility of the XRP Ledger, and position itself as a key player in the evolving digital asset landscape.

Video courtesy of Interactive Brokers.

Video courtesy of Interactive Brokers.