Ripple Prime expanded its HyperLiquid integration on March 30 to include gold, silver, and oil futures, giving institutions 24/7 commodity access through a single prime brokerage.
Hyperliquid’s HIP-3 commodity markets already account for more than 35% of platform volume, with daily peaks of $5.6 billion driven primarily by demand from Iran war weekend oil trades.
Institutions can now for the first time cross-margin XRP positions with commodity exposure using RLUSD as collateral, XRP positioning within the same portfolio as gold, silver, and oil.
XRP price impact depends on whether Ripple migrates post-trade settlement to XRPL and the Clarity Act needs to be passed before banks can use XRP directly.
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Ripple (CRYPTO: XRP) has spent years building the infrastructure for cross-border payments, but Ripple Prime’s latest move pushes the company into an area it’s never touched before: commodities. The institutional brokerage acquired by Ripple for $1.25 billion now offers institutions permanent access to gold, silver and oil around the clock through Hyperliquid – a decentralized exchange that is already doing $1.74 billion in open interest in these markets.
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Ripple Prime plans to transfer its post-trade settlement to the XRP ledger, meaning commodity volume flowing through Hyperliquid can settle on the same blockchain that powers XRP. If that happens, you’re looking at functional demand for XRP driven by gold, silver, and oil trades – and that could be a game changer for XRP price this year.
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When the Iran war broke out in late February, oil prices rose 30% the following weekend. Traditional commodity exchanges like the CME were closed and traders had no way to hedge or react until the following Monday.
HyperLiquid became the only place in the world to determine oil prices in real time through the weekend surge. JPMorgan flagged this in a March research note, pointing out that HyperLiquid’s oil contracts hit $1.7 billion in peak daily volume driven almost entirely by non-crypto traders than anywhere else.
That’s the infrastructure Ripple Prime just tapped into. On March 30, Ripple Prime CEO, Michael Higgins, announced that Ripple Prime has expanded its Hyperliquid integration to include HIP-3 tokens, which are perpetual contracts for gold, silver and oil. Institutions can now trade all three through a single prime brokerage, one margin framework and one counterparty.
Before this, if you wanted to trade oil on a weekend or hold gold exposure along with your crypto position, you needed separate accounts on separate platforms. But now, Ripple Prime puts it all together. What’s more, the volume on Hyperliquid shows that it’s not just a niche crypto product – only 7 of the top 30 markets on the platform are crypto pairs, and the rest are commodities and equities.
HIP-3 trading now accounts for more than 35% of all volume on Hyperliquid, hitting $5.6 billion daily. The war created a demand for 24/7 commodity trading and Ripple showed up with Ripple Prime, giving institutions a direct path.
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Until now, if you held XRP in an institutional portfolio, it remained in a completely separate bucket from your commodity and equity positions. Ripple Prime changes that by allowing institutions to hold XRP alongside gold, silver and oil, using RLUSD as collateral in all of them.
The NSCC listing on March 2 gave Ripple Prime the legal path to begin routing post-trade settlements through the XRP ledger. If commodity trades going through Ripple Prime begin to be settled in XRPL, this will generate real transactional demand for XRP, but real usage is tied to volumes of gold, oil, and silver. XRPL settles in seconds compared to the T+1 or T+2 cycles that traditional systems run, so organizations want to use it after migration.
None of this means institutions aren’t buying XRP to trade oil right now. There has not been a post-trade migration to XRPL, and about 88% of the RLUSD supply still sits on Ethereum rather than the XRP ledger. The relationship between Ripple Prime’s commodity integration and XRP is entirely dependent on Ripple settling on the XRPL. It also depends on whether the Clarity Act gives banks the regulatory green light to use XRP directly.
This is the closest wave to connecting XRP to real-world markets. Most of what Ripple built before was about payments, but it puts XRP within the same portfolio where organizations trade commodities. DTCC is targeting tokenization of Russell 1000 stocks and US Treasuries by the second half of the year, and Ripple Prime will be embedded in NSCC when they arrive.
XRP requires a post-trade settlement migration to XRPL to actually exist and show up in on-chain volume. That is when the XRP price will begin to reflect the updates. If you’ve been waiting for the moment Ripple starts using XRP for something tangible in cross-border payments, this integration is worth a closer look.
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