Ripple Prime: 3 Key Moves Supporting a Brighter Future

Ripple Prime head Marc Asch will step down at the end of 2026, with senior executive Noel Kimmel named as his successor, Ripple confirmed on November 10. The leadership transition affects the institutional prime brokerage business acquired through Ripple’s $1.25 billion purchase of Hidden Road in 2025. The change comes as Ripple expands its presence across traditional finance and digital asset markets.

Ripple Prime Confirms Major Leadership Transition

Asch founded Hidden Road in 2018 and remained with the business after Ripple acquired it in April 2025. The company subsequently rebranded the brokerage as Ripple Prime in October of that year.

A Ripple spokesperson expressed appreciation for Asch’s contribution, confirming that he would leave to pursue new opportunities. Kimmel, who currently serves as senior vice president at Ripple Prime, will take over leadership of the business and its team.

The appointment signals a transition from founder-led management to the next phase of the brokerage's development.

What Ripple Prime's New Leadership Could Mean

Ripple Prime provides institutional clients with prime brokerage, clearing and financing services across digital assets and traditional financial markets, including foreign exchange, derivatives and fixed income.

The platform also supports Ripple’s wider institutional strategy through the use of its US dollar-backed stablecoin, RLUSD, as collateral for certain prime brokerage products.

Three developments will be important under Kimmel’s leadership:

1. Institutional expansion: Growing relationships with hedge funds, market makers and other financial institutions.
2. Traditional finance integration: Connecting digital asset services with established financial market infrastructure.
3. RLUSD adoption: Expanding institutional use cases for Ripple’s stablecoin within brokerage and collateral services.

The leadership change could strengthen operational continuity as Ripple develops its institutional financial services. However, the transition alone does not guarantee increased XRP demand or a change in token price.

Investors will watch how Kimmel manages the transition, expands institutional relationships and integrates Ripple’s digital asset infrastructure with traditional markets.

Appointing an existing senior executive could provide continuity during a significant leadership change. Kimmel’s ability to execute Ripple Prime’s institutional growth strategy will be an important measure of the transition’s success.