{"id":22448,"date":"2025-05-26T08:48:00","date_gmt":"2025-05-26T08:48:00","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=22448"},"modified":"2025-05-26T08:48:00","modified_gmt":"2025-05-26T08:48:00","slug":"ripple-q1-2025-report-transparency-xrp-etf","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/ripple-q1-2025-report-transparency-xrp-etf","title":{"rendered":"Ripple presents Q1 2025 market report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/ripple-q1-2025-report-transparency-xrp-etf\/#_transparency_and_regulation_ripple_seeks_to_consolidate_its_public_stance_why\" >\u00a0Transparency and regulation: Ripple seeks to consolidate its public stance (Why)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/ripple-q1-2025-report-transparency-xrp-etf\/#a_review_of_the_quarters_figures_sales_circulation_and_liquidity_how\" >A review of the quarter&#8217;s figures: sales, circulation, and liquidity (How)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/ripple-q1-2025-report-transparency-xrp-etf\/#why_does_this_report_matter_in_the_us_context_where\" >Why does this report matter in the U.S. context? (Where)<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 5<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">Since 2017, Ripple has been sharing quarterly reports to provide transparency about its XRP holdings and share updates on the state of cryptocurrency markets and the XRP ecosystem. Therefore, on May 5th, the company published its market report covering the first quarter (Q1) of 2025. In this report, we can find key figures on scheduled sales, market liquidity, and institutional use of XRP.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">The company highlighted that, throughout this quarter, XRP was one of the best-performing assets in the crypto market, surpassing assets like Bitcoin and Ethereum with an increase of nearly 50% in early February. The company also highlighted that there were capital inflows of $37.7 million, reaching an annual total of $214 million.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">The report also highlights how institutional support for XRP has grown in recent months. This growth may be related to some events, such as Franklin Templeton&#8217;s request for an XRP ETF in the U.S., the approval of an ETF in Brazil, and the launch of XRP futures by the CME.<\/div>\n<div><\/div>\n<div><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-22449 size-large\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/XRP-imagen-comprimida-1-1024x683.jpg\" alt=\"ripple-q1-2025-report-transparency-xrp-etf\n\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/XRP-imagen-comprimida-1-1024x683.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/XRP-imagen-comprimida-1-300x200.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/XRP-imagen-comprimida-1-768x512.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/XRP-imagen-comprimida-1-1536x1024.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/XRP-imagen-comprimida-1.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div>\n<div><\/div>\n<div>\n<h2 class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\"><span class=\"ez-toc-section\" id=\"_transparency_and_regulation_ripple_seeks_to_consolidate_its_public_stance_why\"><\/span><strong>\u00a0Transparency and regulation: Ripple seeks to consolidate its public stance (Why)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">As mentioned, Ripple began making its data public in 2017. Since then, the company has adopted a proactive disclosure approach to offer transparency about its activities with <a href=\"https:\/\/www.bitnovo.com\/en\/price\/xrp\/\">XRP<\/a>. In <strong>Q1<\/strong> <strong>2025<\/strong>, the company reiterates this commitment; however, it also announces a strategic change in how it will share information in the future.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">According to the <a href=\"https:\/\/ripple.com\/insights\/q1-2025-xrp-markets-report\/\">report<\/a>, this will be the last report in its current format. The decision is due to the level of transparency of the reports not achieving its institutional purpose. Instead of being beneficial, it has been used against them during processes with the previous <strong>SEC administration<\/strong>. Ripple stated:<\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">\u00abRipple will maintain transparency and share relevant updates on announcements related to Ripple and <a href=\"https:\/\/www.bitnovo.com\/en\/price\/xrp\/\">XRP<\/a> through its official channels (&#8230;), and will maintain public access to its <a href=\"https:\/\/www.bitnovo.com\/en\/price\/xrp\/\">XRP<\/a> holdings on its website.\u00bb<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">These channels will be on the social network X, on the profiles of <a href=\"https:\/\/x.com\/Ripple\">Ripple<\/a> and <a href=\"https:\/\/x.com\/RippleXDev\">RippleX<\/a>.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">Despite this unexpected change, the company makes it clear in its report that it will maintain public access to its XRP holdings. This reflects its intention to maintain high standards of transparency and to move away from speculative or manipulative practices.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\"><strong>H2: Who audits and validates the report data? (Who)<\/strong><\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">For this report, Ripple claims to have built the data from a combination of internal metrics and recognized third-party sources. These include <a href=\"https:\/\/www.coindesk.com\/\">CoinDesk<\/a> Data, <a href=\"https:\/\/www.bloomberg.com\/crypto\">Bloomberg<\/a>, <a href=\"https:\/\/eikon.refinitiv.com\/\">Refinitiv Eikon<\/a>, and real-time market data.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">The company clarified that its XRP holdings \u00abhave always been public\u00bb and that it will continue to publish this information on its<a href=\"https:\/\/ripple.com\/\"> official website<\/a>. It is worth noting that they have not yet specified a new update format after the closure of these quarterly reports.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">The voluntary preparation and publication of these reports since 2017 have served as a self-regulation mechanism in front of financial regulators. Thanks to this, the company maintained disclosure standards aligned with those required of public companies. All this voluntarily, as there was no specific regulation on crypto assets.<\/div>\n<div><\/div>\n<h2 class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\"><span class=\"ez-toc-section\" id=\"a_review_of_the_quarters_figures_sales_circulation_and_liquidity_how\"><\/span><strong>A review of the quarter&#8217;s figures: sales, circulation, and liquidity (How)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">Ripple sold $419.5 million in XRP during the first quarter of 2025. However, these scheduled sales were made exclusively in secondary markets. As they were not transactions on centralized exchanges (CEX), there was no direct impact on the asset&#8217;s price.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">Regarding on-chain activity of the <strong>XRP Ledger (XRPL)<\/strong>, the quarter reflects a slowdown compared to the <a href=\"https:\/\/ripple.com\/insights\/q4-2024-xrp-markets-report\/\">end<\/a> of 2024. There were 105,537,589 transactions and a 37.06% drop compared to the previous quarter. On the other hand, the number of new wallets also fell by <strong>40.28%<\/strong>, totaling 423,727 during the quarter. Similarly, XRP burned by fees decreased by 30.89%, reaching <strong>500,691 XRP<\/strong>.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">Despite these data, activity on decentralized exchanges (DEX) showed greater resilience. The total volume on DEX was $832 million. Although it is a quarterly drop of 16.94%, it is still less than on other chains. This is cited by the <a href=\"https:\/\/beincrypto.com\/ripple-q1-2025-spot-volume-surges\/\">article<\/a> from <a href=\"http:\/\/Beincrypto.com\">Beincrypto.com<\/a>.<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n<div>\n<figure id=\"attachment_22450\" aria-describedby=\"caption-attachment-22450\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-22450 size-large\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Exchange-XRP-1-1-1024x683.jpg\" alt=\"bitnovo_rlusd_ripple_stablecoin\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Exchange-XRP-1-1-1024x683.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Exchange-XRP-1-1-300x200.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Exchange-XRP-1-1-768x512.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Exchange-XRP-1-1-1536x1024.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Exchange-XRP-1-1.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-22450\" class=\"wp-caption-text\">XRP TVL and DEX volume. Source: DefiLlama<\/figcaption><\/figure>\n<\/div>\n<div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">The report also shows an increase in market activity. The average daily spot trading volume reached $3.2 billion, with peaks of up to <strong>$16 billion in February<\/strong>. These peaks are driven by increased interest from institutional actors and the overall growth of the crypto market.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">In the investment products segment, XRP attracted net inflows of $37.7 million during the quarter, accumulating a total of $214 million so far this year. This has positioned it as the most in-demand asset after Bitcoin and Ethereum.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">It is worth noting that one of the key drivers of this increase is <a href=\"https:\/\/ripple.com\/solutions\/stablecoin\/\">RLUSD<\/a>. This is the stablecoin issued by Ripple. Its market capitalization has already exceeded $90 million and has an accumulated volume on DEX of more than $300 million.<\/div>\n<\/div>\n<div><\/div>\n<div><img decoding=\"async\" class=\"aligncenter wp-image-22451 size-large\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Actividad-XRP-1024x683.jpg\" alt=\"bitnovo_xrp_vs_btc_eth_2025\n\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Actividad-XRP-1024x683.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Actividad-XRP-300x200.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Actividad-XRP-768x512.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Actividad-XRP-1536x1024.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2025\/05\/Actividad-XRP.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div>\n<div>\n<div><\/div>\n<h2 class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\"><span class=\"ez-toc-section\" id=\"why_does_this_report_matter_in_the_us_context_where\"><\/span><strong>Why does this report matter in the U.S. context? (Where)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">The arrival of this report is particularly relevant due to the current moment the crypto market is going through. Ripple has just faced a <a href=\"https:\/\/es.beincrypto.com\/acuerdo-demanda-ripple-sec-xrp\/\">legal process<\/a> with the <a href=\"https:\/\/www.sec.gov\/\">Securities and Exchange Commission (SEC)<\/a> over the nature of past XRP sales. While part of the case was resolved in 2023, the company&#8217;s disclosure practices are still under scrutiny.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">In March, the Securities and Exchange Commission (SEC) withdrew its appeal. This led to the formal closure of the case after years of legal dispute. As part of the <a href=\"https:\/\/www.sec.gov\/enforcement-litigation\/litigation-releases\/lr-26306\">final agreement<\/a>, Ripple agreed to pay a reduced penalty of $50 million. This is undoubtedly a much lower figure than the $125 million initially proposed by the regulator.<\/div>\n<\/div>\n<div><\/div>\n<div>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The final crossing of t\u2019s and dotting of i\u2019s \u2013 and what should be my last update on SEC v Ripple ever\u2026<\/p>\n<p>Last week, the SEC agreed to drop its appeal without conditions. <a href=\"https:\/\/twitter.com\/Ripple?ref_src=twsrc%5Etfw\">@Ripple<\/a> has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an\u2026<\/p>\n<p>\u2014 Stuart Alderoty (@s_alderoty) <a href=\"https:\/\/twitter.com\/s_alderoty\/status\/1904587116488917053?ref_src=twsrc%5Etfw\">March 25, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">This outcome strengthens Ripple&#8217;s position with U.S. regulators. Additionally, it coincides with renewed institutional interest in XRP, which can be seen in three events we have mentioned:<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">Franklin Templeton filed an S-1 request with the SEC for an <strong>XRP-based ETF<\/strong>. CME Group announced its intention to launch XRP futures, integrating the asset into its derivatives platform. The Comiss\u00e3o de Valores Mobili\u00e1rios (CVM) of Brazil officially approved an <strong>XRP<\/strong> <strong>ETF<\/strong>, expanding its institutional adoption in Latin America.<\/div>\n<div><\/div>\n<div class=\"paragraph-in-scc-markdown-text ___1ngh792 ftgm304 f1iaxwol\">These actions reinforce Ripple&#8217;s public image as a company committed to regulatory compliance, especially in key jurisdictions such as the United States and Brazil. Additionally, they reinforce the role of the report as a tool for transparency and accountability. This is crucial in an environment where institutional trust is essential.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 5<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Ripple\u2019s Q1 2025 report highlights XRP\u2019s strong performance, increased institutional interest, key regulatory wins, and a change in its disclosure model.<\/p>\n","protected":false},"author":40,"featured_media":22631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[165],"tags":[],"class_list":["post-22448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/22448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=22448"}],"version-history":[{"count":4,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/22448\/revisions"}],"predecessor-version":[{"id":22633,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/22448\/revisions\/22633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/22631"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=22448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=22448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=22448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}