XRP Beats Ethereum In Revenue Generation for Coinbase

Key Points

1. XRP accounted for 13% of Coinbase’s Q2 2025 trading revenue, edging out Ethereum at 12%, and also outperformed Ethereum in H1 2025 with 16% versus Ethereum’s 11%.

2. The regulatory clarity from the SEC case, including a 2023 court ruling that XRP is not a security in secondary market sales, has boosted XRP's prominence.

3. Coinbase relisted XRP in mid-2024 after years of absence, contributing to its resurgence in trading activity.

4. Bitcoin remains the leader on Coinbase, generating 34% of trading revenue in Q2 2025 and holding $1.3 billion in assets on the platform.

5. Ethereum’s recent growth may be more institutionally driven, while XRP’s performance is attributed to retail traders energized by legal clarity and price volatility.