• Ripple ends the legal process with the SEC and moves to real-time updates on XRP through digital channels.
• The goal of the $1.25 billion Hidden Road deal is to scale XRPL and support the growth of RLUSD.
• Institutional interest in XRP ETPs is growing amid changes in U.S. policy towards crypto assets.
Ripple is changing its approach to reporting on XRP markets after a busy first quarter of 2025, including the conclusion of a long-running legal dispute with the U.S. Securities and Exchange Commission (SEC) and the acquisition of the core brokerage platform Hidden Road.
In the first quarter of 2025, Ripple reached an agreement with the SEC, officially closing the case initiated in December 2020. The lawsuit concerned whether XRP should be considered a security under U.S. law, and had a significant impact on discussions around digital asset regulations in the U.S.
A new way of sharing information
After the conclusion of the SEC case, Ripple CEO Brad Garlinghouse stated that the company will stop grouping updates into a single quarterly report on XRP markets.
Going forward, news about XRP and Ripple's business will be published as it spreads through existing official Ripple channels, such as social media pages and the company website. Garlinghouse provided the context for this change via X (formerly Twitter).
Q1’25 was an incredible quarter for Ripple, with our acquisition of Hidden Road and end to the SEC case, not to mention institutional interest in XRP ETPs globally.
Moving forward, the XRP Markets Report will look a little different. As some may remember, the objective of… https://t.co/0f9oarmi70
— Brad Garlinghouse (@bgarlinghouse) May 5, 2025
The goal of the Hidden Road acquisition is to expand the network
Also, in the first quarter, Ripple acquired Hidden Road for $1.25 billion. This move is aimed at supporting the scaling efforts around the XRP Ledger (XRPL) and Ripple's US dollar-pegged stablecoin, RLUSD. This deal represents a comprehensive expansion to enhance institutional access to the Ripple network and asset-backed products.
On the topic: Ripple bets $1.25 billion that XRPL can handle TradFi volume through Hidden Road
At the same time, Ripple reported increased institutional interest in exchange-traded products (ETPs) based on XRP in global markets. This activity coincided with what the company described as a shift in U.S. policy towards digital assets that could provide greater regulatory clarity for such financial products.
Commitment to openness remains
Despite changing the report format, Ripple stated that its commitment to transparency has not changed. Ripple reiterated that it will continue to publish its XRP assets on its website.
On the topic: Monica Long from Ripple on the utility of XRP and why regulatory clarity precedes IPO
The main difference lies in the format and timing — transitioning from established quarterly reports to quicker online updates as news arises. These real-time updates are expected to start coming through Ripple’s official channels in the second quarter of 2025.