Q1 2025 Ripple XRP Market Analysis Report

In the world of cryptocurrency, transparency is key to building trust among investors and users. Ripple has been a pioneer in this regard, consistently publishing the XRP Markets Report to provide insights into its XRP holdings and updates on the state of the crypto markets and the XRP ecosystem since 2017. The goal was to encourage transparency from other industry players and to foster trust within the community. However, the reality is that this transparency has sometimes been used against Ripple, particularly by former SEC leadership.

After much consideration, Ripple has decided to phase out the XRP Markets Report in its current form starting in Q2 2025. Despite this change, Ripple remains committed to transparency and will continue to share relevant updates on Ripple and XRP-related news through its official channels. Public access to Ripple’s XRP holdings on the company’s website will also be maintained. As more institutions become involved in XRP, new perspectives and insights are expected to emerge, further advancing the market conversation.

In recent developments, institutions have continued to show support for new XRP products. Franklin Templeton filed an S-1, CME announced the launch of XRP futures, and Brazil’s Comissão de Valores Mobiliários approved a dedicated XRP ETF. Additionally, the SEC officially withdrew its appeal, bringing an end to a multi-year legal battle that tested regulatory boundaries and the future of crypto. Ripple made headlines with the acquisition of Hidden Road for $1.25 billion, signaling a significant move towards expanding institutional use cases for RLUSD and XRPL.

In the first quarter of 2025, the crypto industry saw a wave of positive developments, thanks to the new US administration. Significant milestones included Trump’s executive order expressing support for crypto, the appointment of Paul Atkins as SEC Chairman, and bipartisan efforts around stablecoin legislation, all of which renewed hopes for regulatory clarity in the US. Despite market volatility and global economic uncertainties stemming from tariff disputes, XRP emerged as a top performer, showcasing resilience amidst market turbulence and outperforming other major cryptocurrencies. XRP demonstrated clear strength, climbing nearly 50% in early February while assets like BTC and ETH struggled.

XRP-based exchange-traded products gained traction globally, with increased listings and inflows. XRP investment products outperformed their Bitcoin and Ethereum counterparts, attracting $37.7 million in inflows in Q1 alone. Franklin Templeton took steps towards launching a spot XRP ETF in the US, CME introduced XRP futures, and Brazil approved a dedicated XRP ETF, expanding access to Latin America. Teucrium’s 2x Long Daily XRP ETF debuted with significant trading volume, reflecting growing interest in XRP products.

The SEC’s decision to withdraw its appeal against Ripple was a significant victory for the company and the broader crypto industry, underscoring the strength of Ripple’s case. Moreover, the new US administration has shown a more progressive approach to crypto regulation, with key developments including the repeal of SAB 121, new guidance from the OCC on crypto custody, and revised FDIC policies enabling traditional financial institutions to explore crypto. The SEC also resolved enforcement actions against major players in the industry, signaling a positive shift in regulatory tone.

Ripple’s acquisition of Hidden Road for $1.25 billion marks a significant step towards unlocking new institutional use cases for RLUSD and XRPL. Hidden Road will leverage the XRP Ledger to streamline post-trade operations, reduce costs, and increase efficiency, highlighting the growing adoption of blockchain infrastructure in the institutional space.

Looking at market metrics from Q1 ’25, XRP trading volumes remained steady, averaging $3.2 billion on top-tier exchanges. The XRP/BTC ratio increased by more than 10% in Q1, showing strong relative performance against major currencies. XRP prices rallied in the first half of Q1, reaching levels not seen since 2018. Realized volatility fluctuated throughout the quarter, peaking at 130% in February.

Overall, Ripple’s decision to transition away from the XRP Markets Report reflects a changing landscape in the crypto industry. Despite this shift, Ripple remains dedicated to transparency and will continue to share updates through official channels, ensuring that stakeholders stay informed about developments in the Ripple and XRP ecosystem. As the market evolves, Ripple is poised to adapt and lead the conversation on the future of cryptocurrency.