The cryptocurrency landscape is witnessing a significant shift in trading dynamics, with XRP surpassing Bitcoin (BTC) in trading volume on Coinbase, one of the most prominent U.S.-based digital asset exchanges. This milestone highlights a growing surge in American investor interest in XRP, driven by regulatory optimism, institutional engagement, and rising speculation around a potential spot XRP exchange-traded fund (ETF).
Why XRP Is Gaining Momentum on U.S. Soil
XRP, currently ranked as the third-largest cryptocurrency by market capitalization, has emerged as the most-traded digital asset on Coinbase over the past 24 hours. According to data from CoinGecko, the XRP/USD trading pair accounted for 25% of Coinbase’s total trading volume, which reached $6.86 billion. In comparison, Bitcoin followed closely behind at 20%, with Ethereum (ETH) securing third place.
This shift is particularly notable because Coinbase is widely regarded as a barometer for U.S. crypto market sentiment. Unlike Binance—the world’s largest exchange by volume—Coinbase operates under strict regulatory compliance, making it accessible and trusted by American investors. On Binance, XRP ranks second in trading volume, underscoring its global appeal but emphasizing that its dominance on Coinbase reflects uniquely strong domestic demand.
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The Ripple Effect: Leadership Moves and Regulatory Hopes
The surge in XRP’s popularity follows high-profile developments involving Ripple Labs, the company behind the XRP Ledger and a key proponent of XRP’s use in cross-border payments. Ripple CEO Brad Garlinghouse recently met with President-elect Donald Trump, fueling market speculation about a more favorable regulatory environment for digital assets under the incoming administration.
While no official policy announcements were made, the mere association with political leadership has significantly boosted investor confidence. Historically, XRP has been one of the most sensitive cryptocurrencies to regulatory news—especially due to the prolonged SEC lawsuit alleging that XRP was sold as an unregistered security. Although the case concluded with partial rulings in Ripple’s favor, the possibility of clearer regulations under a new administration has reignited bullish sentiment.
Moreover, growing chatter around the potential approval of a spot XRP ETF has further accelerated buying pressure. If approved, such a product would allow traditional investors to gain exposure to XRP through regulated financial channels—similar to recent Bitcoin and Ethereum ETFs.
Price Surge and On-Chain Activity Signal Strong Demand
Since November—shortly after Trump’s election victory—XRP’s price has skyrocketed by over 600%, climbing from below $0.50 to a peak of **$3.33, its highest level since 2017. The rally intensified this week alone, with prices gaining more than 33%** in just seven days.
This price explosion is not merely speculative; it’s supported by robust on-chain metrics and derivatives activity:
- Futures open interest for XRP has reached record highs, indicating strong institutional and retail participation in leveraged trading.
- The number of large holders—defined as unique wallet addresses holding at least $100,000 worth of XRP—has surged to 108,540, according to data from TradingView and CoinMetrics.
These indicators suggest that accumulation is occurring at scale, with sophisticated investors positioning themselves ahead of anticipated regulatory clarity and financial product launches.
What This Means for U.S. Crypto Markets
The fact that XRP now leads Bitcoin in trading volume on a major U.S. exchange marks a pivotal moment in crypto market evolution. Traditionally, Bitcoin has dominated trading activity across all platforms. However, this reversal on Coinbase suggests that American investors are increasingly diversifying beyond BTC, seeking high-growth opportunities in assets with clear utility and evolving legal frameworks.
XRP’s foundational role in blockchain-based payment solutions—particularly Ripple’s On-Demand Liquidity (ODL) system used by financial institutions for real-time international transfers—adds tangible value beyond pure speculation. This real-world application strengthens its case as a long-term investment, especially if regulatory headwinds continue to subside.
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Frequently Asked Questions (FAQ)
Q: Why did XRP surpass Bitcoin in trading volume on Coinbase?
A: XRP’s surge is driven by increased U.S. investor interest following positive regulatory signals, Ripple leadership meetings with political figures, and growing expectations of a spot XRP ETF approval.
Q: Is XRP legal to trade in the United States?
A: Yes. After partial rulings in favor of Ripple in its SEC lawsuit, major U.S. exchanges like Coinbase resumed or expanded XRP trading, confirming its compliance under current interpretations of securities law.
Q: Could a spot XRP ETF be approved in 2025?
A: While no decision has been made, momentum is building. Approval would depend on SEC evaluation of whether XRP qualifies as a non-security commodity, similar to recent rulings for Bitcoin and Ethereum.
Q: How does XRP differ from Bitcoin?
A: Bitcoin functions primarily as digital gold and a store of value, while XRP is optimized for fast, low-cost cross-border payments and is integrated into financial infrastructure via RippleNet.
Q: What factors could impact XRP’s future price?
A: Key drivers include SEC regulatory decisions, ETF developments, adoption by banks and payment providers, macroeconomic trends, and overall crypto market sentiment.
Q: Where can I track XRP’s trading volume and price movements?
A: Reliable sources include CoinGecko, CoinDesk, and TradingView. For real-time market data and advanced analytics, platforms like OKX offer comprehensive dashboards.
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Looking Ahead: Will the Rally Continue?
While rapid price increases always carry risks of short-term corrections, the underlying fundamentals supporting XRP’s growth appear stronger than in previous cycles. Regulatory clarity, executive-level political engagement, increasing institutional ownership, and technological adoption all point toward sustained momentum.
For investors monitoring shifts in market leadership, XRP’s rise on Coinbase serves as a clear signal: U.S. demand is evolving, and digital assets with utility and compliance pathways are gaining favor over pure speculation.
As the crypto ecosystem matures, assets like XRP may increasingly challenge Bitcoin’s dominance—not in market cap overnight, but in trading activity, innovation relevance, and strategic financial integration.
Whether you're a long-term holder or actively trading, understanding these shifts is crucial. The next phase of crypto growth may not be led by BTC alone—but by purpose-built networks capturing real-world value.
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