Ripple secures U.S. bank approval, projects $900 million revenue, but XRP falls 16%

Ripple closed October with significant progress in institutional growth, obtaining final U.S. banking authorization and forging new partnerships with leading financial institutions. The company revealed that its annualized product revenue run rate is on track to hit $900 million by the end of the year. Despite these milestones, XRP—the digital asset tied to Ripple’s ecosystem—declined by about 16% through October. Throughout October, XRP fell from approximately $1.49 at the end of September to $1.25 by October 31.