Ripple (XRP) News Today: May 13

The company behind the popular cryptocurrency XRP made headlines again by collaborating with some well-known names.

The price of its native token has risen by 9% over the past month, while the sustained institutional interest suggests a further ascent could be on the way.

Partnerships and More

Earlier this week, Ripple announced the successful closing of a $200 million debt facility from funds managed by Neuberger Specialty Finance, the dedicated asset-based division within the global investment management firm Neuberger.

The new capital will help Ripple Prime (formerly known as Hidden Road) to expand its services and support more institutional clients. Ripple also noted that demand for reliable, large-scale financing solutions continues to grow across both traditional and digital markets. Speaking on the matter was Noel Kimmel, President of Ripple Prime:

For his part, Peter Sterling (Head of Neuberger Specialty Finance) applauded Ripple Prime for building an innovative brokerage platform that combines “fintech-grade technology and agility with bank-level compliance and operational rigor.”

The initiative caught the eye of numerous crypto commentators. The popular X user Vincent Van Code claimed this has marked Ripple’s jump into “financial liquidity.”

In the meantime, the Brazilian fintech and blockchain infrastructure company Levery joined Ripple UDAX and the local research and educational foundation FGV “to bring institutional on-chain liquidity” to LatAm banks. UDAX stands for the University Digital Asset Xcelerator – a mutual initiative between Ripple’s University Blockchain Research and UC Berkeley.

The ETF Front

Institutional interest in spot XRP ETFs has strengthened lately, with millions of dollars flowing into these products daily. On May 11 alone, inflows topped $25 million, marking the best day since the beginning of January. In fact, the last time outflows surpassed inflows was on April 30.

When new capital enters these products, issuers must buy actual XRP to back the sold shares. This steady demand can lift the asset’s price, especially when it outpaces available supply.

The companies that offer such ETFs in the USA include Canary Capital, Bitwise, Franklin Templeton, Grayscale, and 21Shares. The cumulative total net inflow generated by these financial vehicles since their launch is over $1.36 billion.

RLUSD’s Progress

Ripple is best known for its native token XRP, but its ecosystem also includes the stablecoin RLUSD, which is pegged 1:1 to the American dollar.

It officially saw the light of day towards the end of 2024, and since then, numerous financial giants and exchanges have embraced it. Some examples include the oldest bank in the US, BNY Mellon, as well as the popular trading venues Binance and OKX. Recently, Quick AI revealed that RLUSD is available on its payment protocol Q402.

As of press time, the stablecoin’s market capitalization stands at almost $1.6 billion, making it the 56th-biggest cryptocurrency.

XRP Price Outlook

The asset trades at roughly $1.42 after posting a solid 9% increase over the past month. Moreover, several factors suggest that a more substantial pump could be on the horizon. A few days ago, the renowned analyst Ali Martinez disclosed that the TD Sequential indicator had flashed a buy signal on XRP’s price chart, expecting an ascent to $1.82 if the valuation decisively breaks through the $1.45 resistance.

Moreover, the analytics platform Santiment revealed that the number of wallets holding at least 10,000 tokens has reached a new all-time high of 332,230.

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