Ripple, the blockchain technology company known for its digital token XRP, has announced a significant change regarding its quarterly reports on XRP markets. After the second quarter of 2025, Ripple will cease the current format of its quarterly XRP Markets report, opting to unveil new versions that promise deeper insights as interest from institutional investors continues to grow.
“However, the reality is that the report has not had the intended effect,” Ripple articulated in its Q1 2025 report, pointing out that their transparency has often been used against them.
This shift arrives amid a flurry of activity surrounding XRP, including multiple ETF filings in the United States and Brazil. Additionally, a leveraged XRP ETF has been available to investors since April, highlighting the increasing appetite for XRP-based investment products. In fact, XRP exhibited one of the most robust performances among major cryptocurrencies in Q1 2025, experiencing a nearly 50% surge in early February while outperforming both Bitcoin (BTC) and Ether (ETH) during a tumultuous market phase.
The increased recognition was mirrored in strong institutional engagement, with XRP-centric investment products fetching net inflows of $37.7 million for the quarter. This impressive figure brings the year-to-date total to $214 million, narrowly trailing behind Ethereum-focused funds. The average daily trading volumes for XRP held steady around $3.2 billion, with Binance leading trading activity, capturing a hefty 40% of the market share.
On-chain activity on the XRP Ledger did see some moderation, particularly after an expansionary phase in late 2024, with wallet creation and transaction volumes dipping by 30–40%. However, the decentralized finance (DeFi) scene related to XRP remained buoyant.
Despite these challenges, XRP’s DeFi activity showed resilience, with decentralized exchange (DEX) trading volumes seeing only a modest decline of 16% quarter-over-quarter. Notably, the RLUSD token emerged as a vital component of this ecosystem, surpassing a market cap of $90 million and accumulating over $300 million in DEX trading volume. As Ripple evolves its reporting strategy and responds to the shifting landscape of cryptocurrency markets, all eyes will be on how these changes could further enhance its engagement with institutional investors and reshape the conversation around XRP.
Ripple to Revamp XRP Markets Reports
Key Points:
- Sunset of Current Reporting: Ripple will discontinue its quarterly XRP Markets reports in their existing format after Q2 2025.
- Shift Towards Deeper Insights: Upcoming versions of the reports will offer more comprehensive insights as institutional demand for XRP increases.
- Transparency Concerns: Ripple’s transparency in its reports has sometimes been used against it, particularly by former SEC leadership.
- Institutional Engagement: Growing interest from institutions in XRP is expected to bring new perspectives and advance market conversations.
- XRP ETF Activity: A surge in XRP-based ETF filings in the U.S. and Brazil, along with ongoing investment products, indicates strong market interest.
- Performance Surge: XRP showed robust performance in Q1 2025, increasing nearly 50%, significantly outpacing BTC and ETH during market volatility.
- Institutional Investment Inflows: XRP investment products saw $37.7 million in net inflows, highlighting rising institutional interest.
- Market Activity: The XRP spot market maintained high activity, averaging daily volumes of around $3.2 billion this quarter.
- Price Volatility: XRP experienced significant price volatility, reaching levels not seen since early 2018.
- On-Chain Activity Trends: Despite a decline in wallet creation and transaction volume on the XRP Ledger, DeFi activity displayed resilience.
The increasing institutional interest and transparency evolution may impact investors by guiding strategic engagement with XRP, potentially resulting in increased market stability and confidence.
Ripple’s XRP Reports Evolution: A Shift Towards Institutional Focus
Ripple’s recent announcement to phase out its quarterly XRP markets reports in their current format by Q2 2025 has sent ripples through the cryptocurrency landscape. While the decision seems to stem from an intention to enhance transparency and relevance, it certainly raises questions about competitive edges and pitfalls compared to similar insights provided by other cryptocurrency platforms.
Unlike many traditional quarterly reports, which often operate under the guise of regulatory compliance, Ripple’s data has sometimes been used against it, particularly highlighted during investigations by former SEC leaders. This creates a double-edged sword; while transparency is essential for building trust, it can simultaneously expose a company to vulnerabilities, particularly in a volatile market where competitors like Binance and Coinbase may not disclose similar levels of insight.
On the competitive front, the shift towards newer reports promising deeper insights aligns well with the growing institutional demand for XRP. As institutional investors flood into the space—especially with the recent surge in XRP-based ETF filings in both the U.S. and Brazil—Ripple’s pivot could position it more favorably against entrenched players like Bitcoin and Ethereum, which have historically dominated the institutional investment narrative. Ripple hints at this potential by stating, “additional perspectives and insights are expected to follow,” suggesting that they are keen to take the lead in institutional conversations.
However, this shift could present challenges as well. The shrinking of on-chain activity on the XRP Ledger, along with reduced wallet creation and transaction volumes, may risk alienating retail investors during this transformative phase. The recovery of DeFi activities within XRP offers some solace, as it remains resilient against broader Layer 1 network slowdowns, but the focus on institutional needs could potentially leave individual investors feeling sidelined.
Ripple’s evolving report strategy could mainly benefit institutional players looking for in-depth market analyses tailored to their investment strategies. Conversely, it might create friction for retail investors who could feel neglected, particularly if decreased transparency in insights leads to mistrust during this critical market evolution. As the XRP narrative unfolds amidst fluctuating macroeconomic conditions, Ripple will need to carefully balance institutional engagement while not alienating its foundational retail audience.
