Cryptocurrency

XRP News: Ripple Joined DTCC’s Tokenization Push This Week. Can It Pull XRP Out of Its October Slide?

Ripple Prime just joined DTCC's push to tokenize Wall Street securities alongside BlackRock and JPMorgan, yet XRP keeps sliding deeper into October losses. The question is whether Ripple's growing institutional footprint will ever translate into real demand for the token.

By Sam Daodu
Published October 23, 2026, 12:33pm ET · 4 min read

The Crypto Desk desk. Editor: Sam Daodu.

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A silver XRP cryptocurrency coin with a distinctive Ripple logo is positioned on a dark, reflective surface, possibly a keyboard. To its right, a white three-dimensional bar chart shows progressively taller bars, topped by an upward-curving arrow, symbolizing market growth. A warm, golden light illuminates the upper left portion of the scene, creating a lens flare effect.
A visual representation of an XRP coin next to an upward-trending chart, symbolizing the potential for market recovery. Ripple's recent involvement in the DTCC's tokenization group could be a catalyst for renewed growth for the cryptocurrency. © Tsikhanovich Alena / Shutterstock.com

Ripple Prime, Ripple’s prime brokerage division, is part of the DTCC tokenization working group led by the Depository Trust & Clearing Corporation (DTCC). The group also includes major players like BlackRock (NYSE: BLK | BLK Price Prediction) and JPMorgan Chase (NYSE: JPM), along with about 50 firms working to create a service that transforms certain U.S. securities into blockchain tokens.

Ripple Prime’s involvement isn’t new, as DTCC recognized it as a member on May 4, 2026. Despite the recent buzz, XRP (CRYPTO: XRP) has shown little reaction, trading at $1.31—down 12.1% this October and below its 20-day average of $1.37 and 50-day average of $1.41, indicating that sellers are currently in control.

Ripple Prime Has a Say in How DTCC Tokenizes Wall Street Securities

wooden blocks with an inscription ripple and a block symbolizing the rise and fall of the currency index

SergeiShimanovich / Shutterstock.com

A prime brokerage provides comprehensive services that let hedge funds and trading firms trade, borrow, and settle across markets through a single entity. Ripple claims that its Prime division clears and finances digital assets, currencies, listed derivatives, swaps, and bonds, and grants clients access to regulated U.S. futures through CME and Nodal Clear. Ripple established this division after acquiring Hidden Road, which finalized on October 24, 2025.

As part of this working group, Ripple Prime helps shape how tokenized stocks, ETFs, and Treasuries integrate with existing Wall Street settlement systems. In December 2025, the SEC issued a no-action letter to DTCC’s Depository Trust Company, promising not to recommend enforcement action against a three-year tokenization service covering Russell 1000 stocks, major index ETFs, and U.S. Treasuries.

DTCC plans to launch this service in October 2026, and prime brokers can earn financing spreads and clearing fees. If hedge funds begin holding tokenized Treasuries, brokers that already handle those tokens could earn the same fees.

Additionally, Ripple Prime is preparing to introduce other tokenized products. Securitize indicated that Ripple Prime plans to support the launch of Securitize Stocks, a tokenized U.S. stock offering, which may enhance Ripple Prime’s institutional business.

DTCC’s First Tokenized Trades Ran on Canton and Besu, Not the XRP Ledger

A macro shot shows a small, dark grey figurine of a man in a suit, with light brown hair, standing with his head bowed and hands in his pockets, signifying dejection. Behind him, out of focus but prominent, is a large, metallic-toned Ripple (XRP) cryptocurrency logo. The background is a soft blur of glowing orange, green, and white lines against a dark backdrop.

Morrowind / Shutterstock.com

As of now, DTCC has not confirmed any involvement of XRP or the XRP Ledger in its tokenization efforts, according to CryptoRank. The first production trades took place on July 15, 2026, as a dry run for the upcoming launch, using Besu, DTCC’s private network, and Canton, a public network created by Digital Asset.

The initial trades included industry giants such as BlackRock, Circle (NYSE: CRCL), Goldman Sachs (NYSE: GS), JPMorgan, Chainlink, and Nasdaq, but Ripple Prime was notably absent.

Furthermore, the reports did not specify a settlement asset—the currency or token exchanged when securities change hands. This means settlements could potentially involve bank deposits, Circle’s USDC, Ripple’s RLUSD stablecoin, or other alternatives. Circle participated in the July trades, and its USDC directly competes with RLUSD.

Frank La Salla, DTCC’s president and CEO at the time of the July announcement, remarked that the service “will institutionalize tokenized markets on day one.” However, his statement offers little insight into which token will be used for settlements.

XRP’s Connection to Ripple Prime Is Through Collateral

the Golden bull burl and bokeh backgroound, Ripple XRP crypto currency concept.

J-Alone / Shutterstock.com

XRP has a direct connection to Ripple’s brokerage through collateral, the asset a borrower offers to back a loan. Ripple states that Prime clients can use RLUSD, XRP, tokenized real-world assets, or traditional collateral. This suggests XRP is an option for Ripple’s clients, but reports indicate its relevance is tied more to Ripple’s business than to DTCC’s services.

Additionally, Ripple urged the SEC in a letter dated October 20 to expedite its proposed Regulation Crypto Assets framework and clarify when a token ceases to be classified as a security. Clearer regulations could reduce legal uncertainty for brokers dealing with tokens, although the framework was still only a proposal when Ripple sent its letter.

Beyond its Prime services, Ripple issues RLUSD and has received conditional approval from the Office of the Comptroller of the Currency in late 2025 to establish Ripple National Trust Bank. Since Ripple is a private entity, it does not disclose revenue details by business line, making it difficult for outsiders to assess Prime’s contribution.

Can DTCC’s Tokenization Drive Help Pull XRP Out of Its October Slide?

Based on available information, it seems unlikely. While Ripple gains credibility, a voice in shaping Wall Street’s tokenization policies, and potentially new clients, XRP has yet to benefit in any measurable way. Reports surrounding DTCC stop short of confirming any commitments to buy, hold, or settle XRP transactions. The token has dropped 28.8% in 2026, compared to a 7.2% decrease for Bitcoin (CRYPTO: BTC), even as Ripple continues to build relationships with institutional partners.

For XRP holders, the wait continues.

Contact [email protected] for any questions or corrections.

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Sam Daodu

Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing

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