XRP Overtakes Ethereum on Coinbase : The Unexpected Triumph
In its quarterly report, Coinbase revealed that XRP generated 13% of its transaction revenue, positioning it ahead of Ethereum (12%). Only Bitcoin remains in the lead with 34%. During the first half of the year, XRP accounted for 16% of Coinbase’s transactional revenue, compared to 11% for ETH.
XRP’s performance in 2025 illustrates its powerful comeback, particularly thanks to regulatory clarity across the Atlantic and growing institutional adoption.
Coinbase Had Removed Ripple in 2021
For context, XRP was delisted from Coinbase in early 2021 following the SEC’s lawsuit against Ripple. It wasn’t until 2023, after favorable judicial decisions for Ripple, that Coinbase reintegrated XRP.
Since then, interest in this Ripple-associated asset has continued to grow, particularly among North American and Asian investors. Coinbase holds $1.3 billion in BTC, $300 million in ETH, and $200 million in other assets (including XRP). Although XRP’s holdings aren’t detailed specifically, its share of revenue suggests it occupies an increasingly significant position.
Stablecoin revenue : A 44% increase despite falling interest rates. Besides Ripple, Coinbase experienced a 44% increase in stablecoin-related revenue, despite lower interest rates. This reflects the growing adoption of USDC stablecoins as payment tools and stores of value.
XRP in 2025 : Toward a New Adoption Cycle ?
This spectacular reversal stems from several key factors :
- End of regulatory uncertainties in the United States
- Positioning of XRP as a rapid cross-border payment solution
- Renewed support from exchange platforms like Coinbase
- Growing interest from fintechs in RippleNet and ODL solutions
With XRP’s return to the top 5 most traded tokens on Coinbase, 2025 could mark the complete rehabilitation of the asset.
XRP’s meteoric rise on Coinbase, even surpassing Ethereum, highlights a redefinition of market dynamics. More than just a temporary rebound, this may represent a strategic positioning for Coinbase and a strong signal for the global market.
For French investors, Ripple reemerges as an asset to watch closely, particularly in light of European discussions on the regulation of payment tokens.
