Ripple Sees Decline in On-Chain Activity Amid Transparency Concerns and Off-Chain Institutional Use
Main Idea
Ripple's XRP Ledger (XRPL) experienced a 30-40% decline in on-chain activity in Q1 2025, with institutional adoption favoring off-chain transactions, raising transparency concerns despite Ripple's claims of widespread bank partnerships.
Key Points
1. Ripple CTO David Schwartz acknowledged slow institutional adoption of on-chain XRPL transactions, with many institutions preferring off-chain solutions.
2. XRPL's total value locked (TVL) in DeFi applications was approximately $81.8 million as of mid-2024, with most institutional activity occurring off-chain.
3. Ripple reported a 30-40% decline in XRPL on-chain activity in Q1 2025, aligning with broader blockchain market trends, though XRP Markets Report noted only a 16% drop in DeFi volume.
4. Ripple announced plans to sunset the XRP Markets Report in its current format starting Q2 2025, aiming to evolve its transparency and reporting methods.
5. Despite the on-chain decline, Ripple emphasized the importance of off-chain institutional activity and plans to provide clearer data on XRP's role in the financial ecosystem.
Description
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