The CEO of Ripple declares that quarterly reports will no longer be released.
CEO Brad Garlinghouse said Monday that Ripple Labs will stop publishing its quarterly XRP Markets Reports after Q2 2025, ending a transparency campaign that started in 2017.
According to Cryptopolitan, the ruling follows the conclusion of a significant phase in Ripple’s protracted legal dispute with the U.S. Securities and Exchange Commission (SEC) earlier this year.
Post-Lawsuit Shift in Disclosure Strategy
Instead of using official quarterly reports, Garlinghouse stated that future information on XRP markets and Ripple’s token holdings will be disseminated through the company’s website and social media accounts. He wrote on X, “Our commitment to transparency doesn’t change with this evolution,” adding that the reports were frequently “used against us” in court.
Although it still challenges institutional sales, the SEC retracted its appeal of the July 2023 decision that public XRP transactions were not securities offers. Ripple’s $125 million fine is still pending a Second Circuit appeal.
Discussion on Transparency and IPO Conjecture
Although Ripple intends to continue posting holdings data online, there were differing opinions about the departure from structured reports. According to some community members, informal disclosures run the risk of spreading false information or manipulating the market.
Others hypothesized that the shift would occur before a potential IPO, with one user citing the necessity for regulatory legitimacy and an increase in acquisition activity. Although Ripple’s acquisition of the institutional cryptocurrency company Hidden Road and the growth of XRP-based ETP flows may indicate aspirations for expansion, Garlinghouse declined to comment on those allegations.
Institutional XRP Demand Accelerates Despite On-Chain Dip
In Q1 2025, net inflows of $37.7 million into XRP-based exchange-traded products brought year-to-date totals to $214 million, almost surpassing Ethereum funds. With an average daily volume of $3.2 billion, spot trading was still busy, with Binance and Upbit leading the way. However, after reaching their peak in late 2024, on-chain measures such as ledger transactions and wallet generation fell 30–40%, indicating a general cooling in Layer 1 activity. With a market value of $90 million and a DEX volume of over $300 million, Ripple’s stablecoin RLUSD kept rising.
XRP was trading at $2.11 at the time of publication, down 2.8% for the day and 7% from its top last week.
We recently reported that 500 million XRP, or roughly $1.1 billion, had been transferred by Ripple Labs, raising early worries about a possible market dump.
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