- Ripple will retire the XRP Markets Report after Q1 2025 but remain transparent via official channels.
- Ripple outperformed BTC and ETH in Q1 2025, driven by institutional interest and favorable U.S. policy shifts.
- Ripple’s $1.25B acquisition of Hidden Road advances XRPL’s role in institutional finance.
Ripple’s final edition of the XRP Markets Report, published for Q1 2025, marks the end of an era. Since 2017, the report has served as a beacon of transparency in the crypto industry.
However, Ripple announced its decision to retire the publication in its current form starting Q2 2025. The move follows years of scrutiny, during which Ripple’s openness was often weaponized against it, most notably by former SEC leadership.
While the formal report concludes, Ripple affirmed its commitment to sharing updates through its corporate and developer channels, along with maintaining public XRP holdings data online.
This strategic communication shift arrives at a time of renewed momentum for the XRP ecosystem. Ripple’s decisive victory in the long-running legal battle with the SEC capped a quarter marked by institutional growth, regulatory optimism, and XRP’s exceptional market performance.
Ripple and SEC agree to reduce penalties
The U.S. Securities and Exchange Commission officially withdrew its appeal against Ripple, effectively ending a multi-year legal conflict. Ripple, in turn, withdrew its cross-appeal, with both parties agreeing to reduce the proposed financial penalty and vacate earlier injunctions, pending SEC Commission approval. This resolution not only vindicated Ripple but signaled a broader regulatory shift under the new U.S. administration.
Key policy actions included the repeal of the controversial SAB 121 rule, new guidance from the OCC supporting crypto custody by banks, and revised FDIC stances that open new doors for institutional crypto involvement. Bipartisan momentum behind stablecoin legislation added further clarity to an evolving regulatory landscape. In tandem, the SEC quietly retreated from several enforcement actions across the crypto space, reinforcing a friendlier tone from Washington.
Q1 sees growing institutional support for XRP
Despite macroeconomic headwinds and tariff-driven volatility, XRP surged nearly 50% in early February, outpacing both Bitcoin and Ethereum. Q1 saw a wave of institutional support: Franklin Templeton filed for a U.S.-based spot XRP ETF, CME announced the coin futures, and Brazil approved a dedicated Ripple ETF. Collectively, the coin investment products attracted $37.7M in Q1 inflows, bringing the yearly total to $214M, just behind Ethereum globally.
Ripple’s $1.25B purchase of Hidden Road, a prime broker that holds multiple assets, puts the company in a stronger position for institutional involvement. Hidden Road will leverage the use of RLUSD as collateral and incorporate the use of XRPL for post-trade settlements in FX, swaps, and repo markets to enable more efficiency and wider utility.
