Messari, a provider of crypto market intelligence products, published a report titled State of XRP Ledger Q2 2025 on Aug. 26, commissioned by Ripple. The report was produced independently by Matt Kreiser, a research analyst at Messari. The analyst highlighted regulatory developments, noting: “In July, the SEC listing standards for crypto ETPs (encompassing spot ETFs) became public, revealing a requirement for more than six months of futures tracking for a crypto asset before ETP listing.” He added:

XRP was listed on Coinbase Derivatives Exchange on April 21, 2025, and the CME on May 18, 2025, paving the way for approval and launch of U.S. spot XRP ETFs in the fall of 2025.

By quarter’s end, XRP’s market capitalization had climbed 8.5% from Q1 to $132 billion, ranking fourth among cryptocurrencies.

The report also emphasized the growth of stablecoins and tokenized assets on the XRP Ledger (XRPL). Ripple’s dollar-pegged RLUSD surged 49.4% during Q2, closing with a $65.9 million market cap on XRPL, its largest stablecoin. Circle’s USDC, Braza Group’s USDB, Schuman Financial’s EUROP, and Straitsx’s XSGD also went live, broadening the ledger’s stablecoin base. Real-world assets hit a record $131.6 million in market cap, fueled by Ondo’s OUSG treasuries, Guggenheim’s digital commercial paper, and Ctrl Alt’s tokenized real estate. Infrastructure advances included the June 30 launch of the XRPL EVM sidechain and compliance-focused features such as TokenEscrow and permissioned DEX.

Separately, optimism for spot XRP exchange-traded fund (ETF) approval surged in late August following a wave of synchronized filings with the U.S. Securities and Exchange Commission (SEC). On Aug. 22, Canary, Coinshares, Franklin, 21Shares, Wisdomtree, and Bitwise submitted amended S-1 filings, while Grayscale filed to convert its existing XRP Trust into a spot ETF. Analysts viewed the clustering of submissions as evidence of active dialogue with regulators. Confidence in approval has grown significantly, with Bloomberg analysts Eric Balchunas and James Seyffart recently raising their approval odds to 95%, reinforcing Ripple CEO Brad Garlinghouse’s assertion that an XRP ETF is “inevitable.”

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。