Ripple’s Big Year: Why 2025 Was a Milestone — But Not a Breakout for XRP

Ripple’s Momentum in 2025

From major acquisitions to the resolution of its long-running SEC battle and the launch of U.S. spot ETFs, 2025 has been one of Ripple’s most eventful years. XRP even reached a new all-time high mid-year, yet it currently trades below its January 1 level — raising questions about why the price hasn’t matched the company’s progress.

Much of the excitement began in March when CEO Brad Garlinghouse confirmed the official end of Ripple’s prolonged legal clash with the U.S. Securities and Exchange Commission. Although the case wrapped up months later, the outcome was seen as a clear victory for Ripple, especially since the final penalty was a fraction of the nearly $2 billion initially sought by regulators. The legal clarity opened the door for strategic expansion, and Ripple didn’t miss the opportunity.

Just weeks after closing that chapter, Ripple announced a headline-grabbing $1.25 billion acquisition of prime broker Hidden Road, which has since been rebranded as Ripple Prime and positioned to serve institutional clients. Additional reports suggested the company is driving an effort to raise more than $1 billion through a SPAC to launch a digital asset treasury business that will accumulate XRP. Ripple also moved to strengthen its enterprise offerings with a $1 billion purchase of treasury software firm GTreasury.

The momentum didn’t stop there. Ripple completed yet another major deal with its $200 million acquisition of Rail — a platform built to help businesses move money quickly and transparently using both stablecoins and traditional currencies. These moves collectively pushed Ripple deeper into institutional finance, payments, and corporate treasury solutions.

The XRP ETF Milestone and Regulatory Shift

The end of the SEC lawsuit dramatically improved the regulatory outlook for both Ripple and XRP. That clearer environment set the stage for one of the year’s biggest milestones: the launch of the first U.S. spot XRP ETF. When Canary Capital’s XRPC debuted in November, it delivered the highest first-day trading volume for any crypto ETF in 2025, underscoring strong institutional interest.

Yet despite the company’s major wins and a more favorable regulatory climate, XRP’s price hasn’t fully reflected the progress. Ripple has accomplished more in 2025 than in several previous years combined — but the market appears to be waiting for broader investor confidence to catch up to the company’s achievements.

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