According to CoinMeta, Ripple is competing with banking giants in Wall Street’s $256 billion leveraged ETF market. Its secretive Road Deal has made it a major broker, capable of financing institutional trading. It has now been renamed Ripple Prime and helps ETF companies borrow stock and index exposures through swaps. This has brought a new source of stock financing income for Ripple, extending beyond the crypto sector. After the news was released, the trading price of $XRP approached $1.40, which is 60% below its historical high.