In a surprising development, XRP trading revenue on Coinbase has surpassed Ethereum’s, marking the first time in years that the altcoin has outperformed ETH on one of the world’s largest exchanges. The shift reflects a resurgence in XRP demand amid a broader revival in altcoin trading activity.
The report, published on August 1, 2025, at 12:01 pm UTC by CryptoSlate, notes that XRP’s trading volume and fee generation have surged, even as Ethereum continues to dominate institutional flows through ETFs and staking products.
XRP’s Return to Prominence
XRP has historically been overshadowed by Ethereum, especially in the institutional market. However, Coinbase data indicates that retail traders have recently favored XRP pairs, boosting liquidity and fee revenue.
This resurgence is linked to:
Regulatory clarity following years of disputes with the U.S. SEC.
Renewed retail speculation amid XRP’s low entry price compared to ETH.
Utility-focused partnerships that keep XRP relevant in cross-border payments.
Ethereum Still Holds Institutional Lead
While XRP now leads Coinbase’s retail revenue, Ethereum remains the dominant player in institutional markets. ETH’s spot ETFs, staking yields, and stablecoin dominance continue to attract large-scale inflows from asset managers and family offices.
The contrast highlights the divergence between retail and institutional behavior:
Retail investors are chasing volatility and low-cap entry points like XRP.
Institutions are focusing on yield and long-term adoption through Ethereum.
Market Context
This revenue shift comes during a volatile week for crypto markets. Bitcoin hovers near $118,000, while Ethereum has traded around $3,850, slightly down after an intense rally. XRP, meanwhile, has climbed above $0.92, gaining nearly 14% in July alone.
Analysts say that XRP’s momentum reflects a healthy altcoin rotation, where investors temporarily move capital from majors like BTC and ETH into lower-cap assets seeking outsized returns.
Long-Term Implications
The development is unlikely to dethrone Ethereum in terms of global influence, but it serves as a reminder of the cyclical nature of altcoin trading.
For Coinbase, the trend could also mean diversified revenue streams, especially after regulators scrutinized its reliance on ETH staking.
If sustained, XRP’s momentum could attract new exchange listings, deeper liquidity pools, and even speculative ETF chatter, further boosting its profile in 2025.
