As Institutional Demand Grows, Ripple to Enhance Its Quarterly XRP Market Disclosures

Ripple is preparing to overhaul its longstanding XRP Markets Report to reflect a shift in audience and market maturity, announcing that Q2 2025 will be the final report in its current format. The move comes as institutional interest in XRP accelerates, with the company pledging deeper insights and more comprehensive metrics in future updates.

Originally intended to promote transparency around Ripple’s XRP holdings and market practices, the report has become a staple of the crypto ecosystem. However, Ripple noted that it has sometimes been misrepresented by regulators and media outlets — particularly by ex-SEC officials — leading the company to rethink its communication strategy.

“With institutional adoption of XRP rising, the market conversation is evolving. We’re adapting to meet it,” Ripple stated in its Q1 2025 report.

The timing aligns with a wave of XRP-related ETF proposals globally, including in Brazil and the U.S., where leveraged ETF products have already launched. This institutional tailwind helped XRP outperform major crypto assets in Q1 2025, with a February price surge of nearly 50% and a 10% rise in the XRP/BTC ratio.

XRP-based investment vehicles attracted $37.7 million in Q1 inflows, bringing year-to-date totals to $214 million — nearly equal to Ethereum-focused products.

Spot markets also remained active, with average daily XRP trading volumes around $3.2 billion. Binance commanded a dominant 40% share, with Upbit and Coinbase trailing. February’s volatility spike pushed realized volatility up to 130%, the highest in over six years.

Meanwhile, network activity on the XRP Ledger dipped slightly, echoing a slowdown seen across many Layer 1 chains. Wallet creation and transaction volume fell 30–40% after a peak in late 2024.

One area of resilience was DeFi. XRP Ledger-based DEX activity dropped only 16% quarter-over-quarter, while Ripple’s stablecoin RLUSD crossed $90 million in market cap with over $300 million in total DEX trading volume.

Ripple’s updated report format is expected to cater more directly to institutional stakeholders, offering enhanced clarity as XRP’s role in financial markets continues to grow.