-
Ripple’s Brad Garlinghouse, CEO, described Q4 2024 for XRP as an historic moment.
-
XRP has seen an increase in institutional interest, with multiple ETFs filed by Grayscale and Bitwise.
-
The RLUSD stablecoin has a market cap of $100M, while XRPL DEX reached $1 billion in trading volume for Q4
Brad Garlinghouse, Ripple’s CEO, has called Q4 2024 a historic time for XRP. In a blog post on X he highlighted the significant growth of institutional interest in XRP. He also highlighted stablecoin adoption and on-chain trade activity.
Five firms applied to launch exchange-traded fund (ETF) vehicles based on XRP in the United States during the third quarter. Four additional firms filed applications in January 2025.
These firms include billion-dollar asset management firms like Grayscale Bitwise and WisdomTree.
Institutional interest in XRP is on the Rise
The increase in ETF filings is a sign of increasing demand by institutional investors. Crypto ETFs are a popular option for traditional investors looking to gain exposure to digital assets, without having to buy and store cryptocurrencies.
Related: Grayscale files for XRP Spot ETF: Will the price of XRP rally on the news?
The U.S. Securities and Exchange Commission is still reviewing XRP ETF applications and has not yet made any comments. Many believe that ongoing regulatory developments may influence the outcome.
If approved, these exchange-traded funds would give investors a regulated exposure to XRP and further legitimize its role in mainstream financial markets.
The RLUSD Stablecoin Gains Traction
Ripple launched its RLUSD stablecoin in Q4. Designed as a digital asset pegged to the U.S. Dollar, RLUSD quickly gained traction and reached a $100 million market capitalization within a month.
The rapid adoption of RLUSD suggests a growing demand for stable digital assets in the XRP eco-system. Its integration with XRP Ledger enables low-cost, fast transactions, making it a viable option in the stablecoins market dominated USDT and USDC.
XRP Ledger DEX Sees Trading Volume Above $1 Billion
The XRP Ledger decentralized exchange (DEX), which is a part of the XRP Ledger, recorded a trading volume on-chain of over $1 billion dollars in Q4, one of its highest levels in history. The increase in trading reflects a growing use of the XRPL to provide liquidity, asset swaps, and DeFi applications.
Related: XRP Ledger Dex Volume Hits $400M In January, Ripple CEO Bullish about Growth
Interestingly, XRPL experienced increased on-chain activity despite a slight 2.86% drop in transaction count. Totaling 167 millions, the XRPL network saw an increase in activity. The AMM feature, launched in March, contributed to a significant increase in swap volume. It reached $774.15 millions in Q4, up $31.23 million from Q3.
AMM swaps accounted for 77% of the DEX trading volume, which grew from $63.4 million to $1 billion. Also, wallet creation jumped to 709K from 140K in Q3, indicating a growing interest in the network.
XRP’s prices increased from $0.55 to $1.43 in Q3, and peaked at $2.80. This led to higher network charges and more XRP being burned, which went from 592K to 724K XRP in Q4.
What’s next for the XRP ecosystem?
The momentum that XRP has gained since Q4 2024 suggests that XRP will continue to gain adoption in 2025.
Ripple could benefit from the expansion of RLUSD, as well as new capital inflows. The growing activity on the XRPL DEX also signals an increase in decentralized trading.
This site is for entertainment only. Click here to read more
