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Coinbase Revenue from XRP Tops ETH, SOL as Holdings Soar 458% – Is XRP Price Ready for Breakout?
Coinbase reported a turbulent first quarter, with revenue declines, a sharp drop in net income, and weakening retail trading activity—but XRP emerged as a major bright spot for the crypto exchange.
According to its Q1 2025 earnings report, Coinbase saw its retail crypto trading volume fall 17% to $78 billion, as Bitcoin dropped 11% over the same period.
Total revenue slipped 10% year-over-year to $2 billion, and net income plunged 94% to $66 million. Shares of Coinbase fell 6% following the results amid a broader downturn in tech stocks.
XRP Delivers Standout Performance
Despite the poor headline numbers, XRP delivered a standout performance.
Coinbase earned more transaction revenue from XRP than from Ethereum (ETH) or Solana (SOL), marking a notable shift in trading behavior.
XRP accounted for 18% of the company’s consumer trading revenue—surpassing both ETH and SOL combined and trailing only Bitcoin in revenue contribution.