XRP Q1 2025 Report: Surge in Spot Trading, Sharp Decline in On-Chain Activity

In Q1 2025, XRP attracted significant inflows from both institutional and retail investors, with an average daily spot trading volume reaching $3.2 billion. XRP's price soared to $3.40 at one point, marking a new high since 2018, outperforming Bitcoin and Ethereum.

XRP investment products attracted $214 million in inflows, nearing the level of global Ethereum funds. In terms of trading volume, Binance had the highest share, followed by Upbit and Coinbase. However, daily trading volume has plummeted over 86% since December.

On-chain activity showed a decline, with XRP Ledger transaction volume down 37%, new wallet creation down 40%, and DEX trading volume down nearly 17%. TVL remained at approximately $80 million.

Nonetheless, positive regulatory developments and Ripple's $1.25 billion acquisition of Hidden Road have bolstered market confidence.