Ripple Labs, a global technology company focused on digital payments, announced that Noel Kimmel will take over as CEO of Ripple Prime, its institutional crypto brokerage and infrastructure arm. The leadership change becomes effective at the end of the year, with Kimmel set to replace departing founder Marc Asch.
Leadership Transition at Ripple Prime
Noel Kimmel, who previously served as Vice President of Ripple Prime, will now lead the business and oversee its team within Ripple Labs. The appointment signals Ripple Prime’s intent to accelerate its transformation from a traditional custody and brokerage provider into a wider financial services and infrastructure firm tailored for institutional clients.
Marc Asch, credited with founding Hidden Road in 2018, has served as CEO since the company’s inception. Hidden Road is known for its suite of services in the digital asset sector, including foreign exchange, derivatives, and fixed-income solutions. In 2025, Ripple Labs reached an agreement to acquire Hidden Road, aiming to bolster its institutional finance capabilities.
Mini dictionary: Hidden Road is a financial services provider specializing in digital asset brokerage, FX, and derivatives for institutional clients.
Institutional Growth and $13 Trillion Processed
Following the acquisition, Ripple Labs expanded its subsidiary’s ambition by targeting leveraged ETF financing. During 2025, the business processed $13 trillion in payments. However, due to lingering regulatory uncertainties, these transactions generally excluded cryptocurrencies.
Currently, Ripple Prime serves more than 300 institutional clients worldwide. Noel Kimmel was instrumental in this development, having previously represented the firm in a $200 million financing agreement focused on boosting institutional margin capacity. The platform also introduced equity-linked derivatives and various financing products tailored for its clientele.
A notable recent achievement was a clearing services partnership with Brevan Howard, an asset manager overseeing $35 billion in assets under management.
| Year | Payments Processed | Institutions Served | Key Partnerships |
|---|---|---|---|
| 2025 | $13 trillion | 300+ | Brevan Howard |
XRP Price Holds Near Key Support
Meanwhile, XRP hovered near the crucial $1 psychological level on November 13, 2026. This coincided with Bitcoin falling below $68,000 and significant outflows from the broader crypto ETF market, which led to increased volatility across major digital assets. XRP’s $0.99 support zone faces significant attention as the market reacts to these events.
Crypto analyst Ali Martinez observed that XRP has reversed to the lower boundary of its trading channel, now anchored at $0.99. Should XRP reclaim higher levels, key targets include $1.29 as a mid-point and $1.55 as the main upward objective.
Crypto analyst Ali Martinez noted that with XRP’s reversal completed at $0.99, the next steps hinge on whether the token can break upward, opening the door for moves toward $1.29 and potentially targeting $1.55.
