XRP market cap rises nearly 2% in Q1 2025
XRP leads crypto gains in Q1 with rising adoption.
In a quarter marked by contraction across major cryptocurrencies, XRP emerged as a standout performer.
According to a new report by Messari, XRP’s market capitalization and network activity grew significantly in Q1 2025, contrasting with notable declines in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
XRP’s market cap rose 1.9% quarter-over-quarter to reach $121.6 billion, while the combined market cap of BTC, ETH, and SOL dropped 22% during the same period. This marks the second consecutive quarter of growth for XRP across all network metrics, a milestone not seen since Messari began tracking the XRP Ledger (XRPL) in 2023.
Network growth signals rising user activity
According to Messari, Q1 2025 marked the second consecutive quarter of growth across all major XRPL network metrics. Most notable was the 142% increase in daily active addresses, reaching 134,600, alongside a 210% year-over-year increase in new wallet addresses, totaling 568,300.
The number of daily receiving addresses surged 168% to 127,800, outpacing senders for the fourth straight quarter—a dynamic often linked to airdrops or token distributions that activate previously dormant wallets.
Despite the rising circulating supply (up 1.4%), XRP’s price appreciated just 0.5%, suggesting market cap growth was largely supply-driven. However, broader usage and adoption were evident in the 13% QoQ rise in daily transactions to 2.04 million, including a 36% rebound in payment-related transactions to 1.12 million.
Conclusion
XRP’s performance in Q1 2025 sets it apart in an otherwise declining crypto market, highlighting both growing on-chain activity and sustained investor interest. As network metrics continue to trend upward, XRP may be positioning itself for further adoption—especially if momentum holds in upcoming quarters.
Read also: SEC postpones decision on XRP ETFs and ETH staking.
