XRP to Become Upbit's Top Trading Volume Cryptocurrency in 2025

XRP trading volumes have surged in recent weeks, despite the token struggling to maintain gains following a short-lived rally. This activity has not translated into sustained price increases, with XRP fluctuating in a consolidation range between $2.00 and $2.15 according to TradingView data. Analysts highlight regulatory uncertainty and whale distribution as key factors behind the recent pullback as research shows.

On major exchanges such as Upbit and Binance, XRP's spot trading volume has spiked significantly, with Upbit recording a 156% increase in the last hour alone. Binance also saw a 69% rise in its XRP/USDT pair, showing heightened investor interest as both exchanges compete for top trading volume according to crypto reports.

In addition to exchange activity, institutional demand for XRP has grown through ETF vehicles. Cumulative inflows into XRP ETFs have surpassed $1.5 billion, indicating strong appetite for the token among regulated investors. These funds offer a new way for institutional investors to gain exposure to XRP without directly holding the token according to Investing analysis.

Why Did This Happen?

The surge in XRP trading activity is linked to both retail and institutional demand. Ripple's partnerships and regulatory progress have helped to stabilize XRP's market structure, encouraging more structured trading behavior. The BTC Markets 2025 report showed XRP surpassing Bitcoin in trading activity for the first time in four years, driven by its role in Ripple's ODL service according to TradingView data.

Institutional investors have increasingly turned to XRP ETFs as a way to gain exposure to the token within regulated environments. The launch of multiple XRP ETFs on major exchanges has added liquidity and institutional credibility to the market. This trend suggests that XRP is being viewed as a viable asset for traditional investors as analysis indicates.

How Did Markets Respond?

Despite increased trading volumes, XRP's price has struggled to break out of a consolidation pattern. The token currently trades around $2.12, below the $2.20 level seen earlier in January. Analysts note that while XRP is above its 50-day moving average, it remains below the 200-day average, indicating mixed momentum according to TradingView data.

ETF inflows have continued to support demand for XRP, even as the token faces downward pressure. For example, the Bitwise XRP ETF saw a $4.51 million inflow on a single day in January, despite XRP being down 18.11% over the previous three months according to Investing analysis. This suggests that investors are buying XRP as a contrarian play, rather than following the technical trend.

What Are Analysts Watching Next?

Market participants are closely watching the behavior of XRP ETFs and derivatives. The launch of a 2x leveraged XRP ETF has introduced new dynamics to the market, with potential for greater volatility and rebalancing activity. This could amplify price swings in both directions according to analysis.

Another key metric is XRP's on-chain activity. While institutional demand is strong, on-chain metrics show a decline in DEX volume and stablecoin adoption on the XRPL. This raises concerns about whether XRP's growing financial appeal is being matched by real-world usage according to CryptoSlate.

Regulatory developments will also play a critical role in shaping XRP's future. While the token has gained clarity in the U.S. and UK, any new enforcement actions could disrupt the current momentum. Investors are advised to remain cautious as the regulatory landscape continues to evolve according to CryptoBriefing.

The coming months will be crucial in determining whether XRP can sustain its institutional momentum. If on-chain activity improves and derivatives continue to grow, the token may see renewed upward pressure. However, continued price volatility and divergence between ETF performance and on-chain usage could limit long-term gains according to CryptoSlate.