Ripple CEO Brad Garlinghouse commented on the investment rating assigned to Ripple's brokerage division, Ripple Prime, by Kroll Bond Rating Agency (KBRA).

Clear validation of @Ripple Prime’s strength, reliability and tech with today’s investment grade issuer rating from Kroll. Momentum builds when markets recognize these things. https://t.co/WjGi14OuaZ

— Brad Garlinghouse (@bgarlinghouse) April 2, 2026
 

He stated that the decision serves as "clear validation of the strength, reliability, and technology" of the platform.

In October 2025, Ripple completed the acquisition of the non-bank prime broker Hidden Road for $1.25 billion and rebranded it as Ripple Prime.

KBRA assigned a BBB rating to the structure, the lowest tier of investment grade, indicating "average quality" creditworthiness with moderate risks.  

Agency analysts emphasized that Ripple Prime is in a phase of active growth, focusing on clearing and intermediary services in the derivatives and repo markets. They noted that the platform:

  • is a registered broker-dealer and FCM in the U.S.;
  • trades in exchange-traded derivatives and short-term government bonds, targeting institutional clients;
  • rapidly increased its balance sheet and became profitable in 2025.

A significant factor in the rating was the support from the parent company:

  • Ripple invested about $500 million following the announcement of the acquisition of Hidden Road;
  • the company plans further investments in its subsidiary, having $5 billion in cash and "substantial XRP reserves."

However, KBRA pointed out several limitations, such as revenue concentration in a narrow segment of financial operations and weak business diversification. The agency's experts also highlighted the close ties between Ripple and the crypto industry as a risk, which could negatively impact the company's profits, making it "sensitive to price volatility and liquidity conditions, especially during prolonged downturns in the digital asset market."

XRP prices have dropped over 28% since the beginning of the year. The token is trading around $1.3, nearly 64% below its all-time high of $3.65 reached in July 2025. The asset's market capitalization stands at approximately $81 billion. (CoinGecko).

Recall that Garlinghouse predicted "record results" for Ripple in the first quarter.