{"id":478254,"date":"2025-05-05T23:00:35","date_gmt":"2025-05-05T22:00:35","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=478254"},"modified":"2025-05-05T22:37:59","modified_gmt":"2025-05-05T21:37:59","slug":"xrp-trading-volume-steady-at-3-2b-in-q1-but-xrpl-activity-contracts-sharply","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/xrp-trading-volume-steady-at-3-2b-in-q1-but-xrpl-activity-contracts-sharply\/","title":{"rendered":"XRP trading volume steady at $3.2B in Q1, but XRPL activity contracts sharply"},"content":{"rendered":"

Ripple\u2019s XRP<\/a> trading volume on top-tier exchanges throughout the first quarter, with average daily volume (ADV) holding nearly $3.2 billion, while XRP Ledger (XRPL) activity decreased.<\/span><\/p>\n

According to a May 5<\/span> report<\/a><\/strong> by Ripple<\/a>, the volume trend reflects sustained institutional and retail engagement despite sharp price swings and moderating on-chain activity.<\/span><\/p>\n

Spot market data shows XRP posted intermittent volume spikes, particularly during late January and early February when daily volumes exceeded $16 billion. Activity tapered off into March, although Binance<\/a> retained a dominant market share, accounting for approximately 40% of exchange volume.\u00a0<\/span><\/p>\n

Other leading venues included Upbit<\/a> (15%) and Coinbase<\/a> (12%). Bybit\u2019s<\/a> share declined substantially after a platform hack disrupted activity in February.<\/span><\/p>\n

Trading behavior and pair composition<\/strong><\/h2>\n

XRP trading remained heavily skewed toward stablecoin pairs, led by USDT<\/a>. The proportion of volume traded via fiat pairs increased modestly from 25% in the last quarter of 2024 to 29% in this year\u2019s first quarter, indicating a mild shift toward traditional currency rails.\u00a0<\/span><\/p>\n

Overall, the volume pattern highlights XRP\u2019s liquidity resilience and ongoing preference for stablecoin-based markets. It<\/span>\u00a0outperformed other major altcoins relative to the broader market, with the XRP\/BTC volume ratio climbing more than 10% during the quarter. <\/span><\/p>\n

This performance placed XRP above Cardano (ADA<\/a>), BNB<\/a>, and Solana (SOL<\/a>) in terms of rolling average dollar volume.\u00a0<\/span><\/p>\n

At quarter-end, XRP traded at $2.09, with a 30-day ADV of $2.8 billion and a 90-day ADV of $3.3 billion, trailing only Bitcoin (BTC<\/a>) and Ethereum (ETH<\/a>) in absolute trading activity.<\/span><\/p>\n

Volatility conditions and price performance<\/strong><\/h2>\n

XRP\u2019s price trajectory followed a sharp arc through the quarter. Starting below $2.00, the token rallied to a multi-year high of $3.40 in early February before retracing to $2.09 by the end of March.\u00a0<\/span><\/p>\n

Realized volatility reflected these moves, beginning the year at 150%, then falling to near 100% during a period of market calm, before rebounding to stabilize around 130% through the rest of the quarter.<\/span><\/p>\n

The price run-up was driven by anticipation around XRP-related regulatory clarity and product expansion, though profit-taking and broader market recalibrations contributed to the subsequent pullback. <\/span><\/p>\n

Nonetheless, XRP\u2019s closing price at the end of the first quarter represented an 89% increase in its average closing price compared to last year\u2019s fourth quarter.<\/span><\/p>\n

On-chain metrics show contraction<\/strong><\/h2>\n

While exchange volume held firm, on-chain activity on the XRPL declined in line with broader crypto network slowdowns. Total transactions fell by over 37% quarter-over-quarter to 105.5 million, while wallet creation dropped 40% to 423,727.\u00a0<\/span><\/p>\n

XRP burned as transaction fees decreased by 31%, and average transaction costs in US dollars doubled due to the increase in XRP\u2019s price.<\/span><\/p>\n

Despite the contraction in core metrics, DeFi activity on XRPL proved relatively more durable. Decentralized exchanges' volume declined 17%, outperforming on-chain metrics from Bitcoin, Ethereum, and other major blockchains.\u00a0<\/span><\/p>\n

RLUSD<\/a>, Ripple\u2019s USD stablecoin, surpassed $90 million in market cap with over $300 million in cumulative decentralized trading volume.<\/span><\/p>\n

Despite the broad market woes in the first quarter, XRP trading volume remained steady, suggesting what could be investors' demand or appetite for short-term trading.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple\u2019s XRP trading volume on top-tier exchanges throughout the first quarter, with average daily volume (ADV) holding nearly $3.2 billion, while XRP Ledger (XRPL) activity decreased. According to a May 5 report by Ripple, the volume trend reflects sustained institutional and retail engagement despite sharp price swings and moderating on-chain activity. Spot market data shows […]<\/p>\n","protected":false},"author":1511,"featured_media":469427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,1,77968,32631,6849],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nXRP trading volume steady at $3.2B in Q1, but XRPL activity contracts sharply<\/title>\n<meta name=\"description\" content=\"XRP outpaced other major altcoins in trading volumes, bested only by Ethereum and Bitcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/xrp-trading-volume-steady-at-3-2b-in-q1-but-xrpl-activity-contracts-sharply\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP trading volume steady at $3.2B in Q1, but XRPL activity contracts 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