XRP Price Reclaims $1 as Ripple Prime Closes $275M Senior Notes Offering

TLDR

• Ripple Prime closed an upsized $275 million senior unsecured notes offering.
• Kroll assigned Ripple Prime’s notes a BBB investment-grade rating.
• XRPL-native stablecoin supply rose 195.4% QoQ to $825.5 million.
• XRP ETPs recorded $253.6 million in net inflows during Q2.
• XRP fell 19.9% in Q2 as CEX spot volume dropped 53.5%.

XRP is trading at $1 after Ripple Prime closed an upsized $275 million private placement of senior unsecured notes, and institutional activity across the XRP Ledger continues to expand. The contrast comes after XRP already fell 19.9% during the second quarter, closing June at $1.04.

Ripple Prime plans to use the new capital for working capital and general corporate purposes as it expands its U.S. operations. Institutional investors purchased the notes, while Kroll Bond Rating Agency assigned them a BBB investment-grade rating.

Ripple Prime Raises $275 Million for US Expansion

Ripple Prime operates as Ripple’s non-bank prime brokerage business, providing financing, clearing and brokerage services to institutional clients. Piper Sandler acted as lead placement agent for the $275 million transaction.

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