XRP Surges Past Major Cryptocurrencies on Coinbase Amid ETF Speculation

XRP has become the most actively traded cryptocurrency on Coinbase, surpassing both Bitcoin and Ethereum in trading volume. The surge comes as the digital asset approaches a $200 billion market cap, with growing interest from U.S. investors driving significant price movements in early 2025.

Trading Patterns and Market Dynamics

Recent data shows XRP commanding 25% of Coinbase’s total 24-hour trading volume, which stands at $6.86 billion.

This shift in trading patterns highlights increasing U.S. investor interest, though Bitcoin still leads trading volumes on Binance, the world’s largest cryptocurrency exchange.

The stark difference in trading patterns between these platforms points to a growing regional divide in cryptocurrency preferences.

XRP’s price has seen an impressive 600% increase since November, reaching $3.40—its highest level since 2017.

This rally isn’t just speculative trading; data shows over 108,540 unique addresses now hold at least $100,000 worth of XRP, marking a significant increase in large-scale investors.

Market indicators strongly suggest bullish sentiment, with derivatives data showing higher interest in call options compared to puts. The futures market has also set new records, with open interest growing by 46% since Monday to reach $7.6 billion—the highest level ever recorded.

Several factors are driving this growth:

• Anticipated regulatory clarity in the U.S. market
• Potential approval of spot XRP ETFs by multiple investment firms
• Recent meetings between Ripple’s CEO and key political figures
• Growing institutional interest in blockchain payment solutions

However, the market shows signs of volatility, with recent 48-hour liquidations reaching $31 million, split almost evenly between long and short positions.

This indicates active trading in both directions, suggesting traders are still uncertain about short-term price movements.

XRP ETFs in the Works?

Interestingly, investment firms including Bitwise, Canary Capital, WisdomTree, and 21Shares have filed applications for spot XRP ETFs with the SEC. Market prediction platforms currently show a 67% probability of SEC approval for a spot XRP ETF in 2025, though experts caution that sustained success will depend on real-world adoption rather than speculative trading.

Industry analysts note that while the current momentum is strong, XRP’s long-term value will ultimately depend on its adoption in payment networks and broader market conditions. Unlike Bitcoin’s established position as a store of value, XRP’s future hinges on its practical applications in cross-border payments and financial infrastructure.