Key Takeaways
- XRP/USD trading volume on Coinbase surged over 29,000% to $246 million, driven by heightened market anticipation around upcoming spot XRP ETFs in Canada and the U.S.
- Purpose Investments is set to launch Canada’s first spot XRP ETF on June 18, while a critical SEC ruling on Franklin Templeton’s U.S. spot XRP ETF application is expected today.
Edward Farina, CEO of Alpha Lions Academy, spotlighted an astonishing surge in XRP/USD trading volume on Coinbase this week, igniting broad market interest in the altcoin.
Farina initially reported a 24-hour trading volume jump of 12,495.31% for XRP on Coinbase, citing data from Coinglass. Shortly thereafter, the figure was revised upward to a staggering 29,140.38%, with XRP spot trading volume hitting $246.2 million.
This explosive growth coincided with intensified XRP activity across multiple crypto exchanges. According to Coinglass heatmaps, Coinbase’s XRP/USD volume briefly ranked among the market’s top—second only to Binance—surpassing major platforms like Bybit, OKX, and Kraken.
$XRP VOLUME IS UP 12495.31% on @coinbase 🚨
— EDO FARINA 🅧 XRP (@edward_farina) June 16, 2025
What is going on???? 👇 pic.twitter.com/gDe1EmM2lo
Spot XRP ETF News Sparks Investor Frenzy
The timing of this trading volume surge appears closely linked to breaking news about a forthcoming spot XRP exchange-traded fund (ETF). Canadian investment firm Purpose Investments is reportedly launching Canada’s first XRP spot ETF on June 18, 2025, under the ticker XRPP on the Toronto Stock Exchange.
This key development, first highlighted by X user Nitinahuja and echoed by XRP community members, marks a new chapter in XRP’s institutional adoption. Purpose Investments, known for pioneering the world’s first Bitcoin spot ETF in 2021, is again breaking ground by entering the XRP market.
The Ontario Securities Commission’s approval of XRPP underscores evolving regulatory acceptance, providing a critical boost to investor confidence.
Times Tabloid Confirms ETF Milestone, Eyes U.S. SEC Ruling
Further fueling the rally, Times Tabloid verified the Canadian ETF launch details and reported that XRP surged 7%, from $2.16 to $2.30, in just 24 hours—outpacing both Bitcoin and the broader crypto market.
Adding to the anticipation, Franklin Templeton is awaiting a key decision from the U.S. Securities and Exchange Commission (SEC) on its own spot XRP ETF application. The SEC is expected to issue a ruling today, June 17, 2025—a potential game-changer for XRP’s standing in U.S. markets.
Given the SEC’s historically cautious stance on digital assets and ETFs, today’s verdict could heavily influence XRP trading dynamics, particularly on U.S.-based exchanges like Coinbase.
Institutional Momentum and Retail Anticipation Drive XRP Volume
The extraordinary spike in XRP trading volume on Coinbase suggests that both institutional investors and retail traders are positioning aggressively ahead of the pending ETF announcements.
Also Read: Metaplanet Surpasses Coinbase with 10,000 BTC, Becoming Ninth-Largest Public Bitcoin Holder
As regulatory clarity emerges and institutional adoption accelerates, XRP’s market profile is undergoing a potentially transformative shift. Today’s SEC decision could either validate the ongoing surge or cool investor enthusiasm.
For now, with $246 million in daily volume and an ETF-fueled rally, XRP remains firmly in the market spotlight—ready for its next big move.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
