Ripple Spends Millions on XRP Sports Marketing Amid Stagnant Token Price

Ripple is spending millions to increase visibility for its XRP token among mainstream audiences. The company has partnered with Florida Athletics, which announced a multi-year deal on September 4. Under this agreement, XRP logos will be placed on both 25-yard lines at Ben Hill Griffin Stadium.

The estimated annual cost of the partnership is around $5 million, according to reports. This is not Ripple's first foray into sports marketing; it has a similar five-year deal with Kansas Athletics, where XRP branding appears across uniforms and other athletic properties.

While XRP's price remains stagnant, with a 48% drop from its level in early September, the token's visibility is rising. The Florida agreement covers field branding, digital properties, events, and financial-technology education, but does not require the university to hold or use XRP for payments.

Ripple's strategy may be focused on building familiarity among a wider audience, rather than generating immediate demand for the token. College football has millions of viewers who may never engage with cryptocurrency otherwise.