XRP Q1/2025 Report: Spot Trading Surges, On-Chain Activity Plunges

In Q1 2025, XRP attracted significant institutional and retail investment, with average daily spot volume reaching $3.2 billion. XRP’s price soared to $3.40—its highest since 2018—and outperformed both Bitcoin and Ethereum.

Investment products tied to XRP saw $214 million in inflows, nearing Ethereum's global fund levels. Binance led trading volume, followed by Upbit and Coinbase. However, daily volumes have dropped over 86% since December.

In contrast, XRPL on-chain activity declined sharply: transactions down 37%, new wallets down 40%, DEX volume down nearly 17%. TVL remained low at ~$80 million.

Still, positive regulatory shifts and Ripple’s $1.25B acquisition of Hidden Road boost long-term confidence.