- Ripple is ending its formal XRP Markets Reports after Q2 2025, shifting to more flexible disclosures via its website and social channels.
- The move follows the conclusion of the SEC’s appeal and rising institutional demand, with speculation growing around a potential IPO.
Ripple Closes a Chapter on Transparency—But Maintains Accountability
Ripple CEO Brad Garlinghouse has announced that the company will officially end its long-standing XRP Markets Reports after Q2 2025. Ripple is retiring the reports, which have offered quarterly insights into its XRP holdings and market activity since 2017, in favor of more “flexible” communication through its website and social media channels.
Garlinghouse emphasized that the shift is not about less transparency but smarter disclosure. “Our commitment to transparency doesn’t change with this evolution,” he wrote on X. The change follows Ripple’s recent acquisition of Hidden Road and the conclusion of the SEC’s appeal in its lawsuit against the company—though the legal saga isn’t over yet.
SEC Steps Back, But Legal Storm Isn’t Over
While the SEC has ended its appeal against the July 2023 decision that XRP sales on public exchanges aren’t securities, Ripple still faces legal hurdles. The court previously ruled that $728 million worth of XRP sold to institutional investors did fall under securities laws. The SEC fined Ripple $125 million in 2024, though it has suspended the fine pending appeal.
The decision to end formal reports appears to be, at least in part, a response to how the SEC weaponized Ripple’s own transparency during litigation. Ripple will now post future XRP updates on its owned platforms—opening debate about market integrity versus corporate control.
Institutional XRP Demand Surges Amid Headwinds
Despite macro headwinds, Ripple and XRP enjoyed a strong Q1 2025, pulling in $214 million in ETP inflows, almost overtaking Ethereum-based funds. Daily trading volumes hit $3.2 billion, with Binance leading at 40% market share.
On-chain activity did slow down, echoing trends seen across major Layer 1 blockchains. Still, Ripple’s stablecoin RLUSD crossed a $90 million market cap and $300 million in DEX volume, reinforcing growing DeFi engagement.
IPO Rumors Swirl as Strategy Evolves
The shift in communication has sparked IPO speculation, with some X users suggesting Ripple is preparing to go public by January 2026. Critics argue that an IPO could compromise Ripple’s operational freedom, while supporters say it’s a natural step to fund growth and acquisitions.
Whether or not Ripple goes public, one thing is clear: the company is adapting—and so is its strategy for navigating the crypto-regulatory minefield.
