Ripple does not view the current crypto winter as a retreat by institutional investors, but rather as a transition toward a less speculative market. In an interview with Markets Media, Michael Higgins, International CEO of Ripple Prime, explained that 24/7 markets are increasingly putting pressure on traditional banking processes. He believes Ripple is well positioned to benefit.
Ripple acquired Hidden Road in October 2025 for $1.25 billion and subsequently rebranded the company as Ripple Prime. Since then, revenue has tripled year over year. Ripple Prime now processes more than $3 trillion in annual transaction volume for over 300 institutional clients.
According to Higgins, this growth is driven by the increasingly sophisticated strategies adopted by institutional clients:
Even in a crypto winter, our business continues to thrive. The direction is clear: institutions continue to employ more sophisticated, less speculative approaches to digital **** ets, and they need partners such as Ripple Prime that can support these activities in up markets and down.
For Higgins, the current crypto winter is therefore "not a winter for digital **** ets." He expects traditional financial markets and crypto markets to converge over the long term, with securities and other financial instruments becoming increasingly tokenized.

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