The XRP ecosystem continues to solidify its prominence within the global digital asset landscape, with increasing investor interest, institutional involvement, and regulatory developments driving the demand for robust trading infrastructure. At the heart of XRP’s liquidity and market valuation are key trading platforms that handle the bulk of XRP-U.S. dollar transactions. Recent data shared by leading XRP-focused influencer SMQKE reveals a detailed snapshot of these platforms’ performance as of September 30, 2024, based on cumulative trading volume and market share. This ranking highlights the top five XRP trading platforms, offering a deeper understanding of the market’s structural dynamics and the exchanges powering the XRP economy. XRP Trading Platforms Ranked by Volume 1. Coinbase 2. Crypto. com 3. Kraken 4. LMAX Digital 5. Bitstamp pic.twitter.com/2OxdVUhvyT — SMQKE (@SMQKEDQG) May 21, 2025 Coinbase: Dominating XRP Liquidity At the top of the list is Coinbase , the largest contributor to XRP-U.S. dollar trading volume among all the platforms surveyed. As of the end of Q3 2024, Coinbase recorded a staggering 1,390,594,237 XRP in trading volume, commanding a dominant 49.1% market share. This substantial figure underscores Coinbase’s unparalleled influence in shaping XRP price discovery and liquidity in the U.S. market. Coinbase’s status as a publicly traded company and its commitment to regulatory compliance have positioned it as a trustworthy and preferred platform for both retail and institutional investors. Its inclusion in the XRP index further reflects its reliability and significance in the broader crypto trading ecosystem. Despite regulatory headwinds in the past, especially relating to XRP’s legal standing in the United States, Coinbase has remained a key player in facilitating XRP trades, with its advanced trading tools, liquidity pools, and extensive user base ensuring consistent volume inflows. Crypto.com: Securing the Second Spot Following Coinbase is Crypto.com, which registered 708,146,379 XRP in trading volume, amounting to a 25.05% market share. Crypto.com’s aggressive global expansion strategy, user incentives, and crypto-friendly mobile platform have significantly boosted its XRP transaction volumes. Its innovative approach to retail user engagement, including cashback offers, staking rewards, and low-fee trading options, has made it a competitive venue for XRP traders globally. Crypto.com has also been proactive in listing XRP trading pairs and promoting liquidity through diverse fiat and crypto pairings. The platform’s ability to cater to a wide spectrum of users—from casual investors to high-frequency traders, has made it a formidable player in XRP market activity. Kraken: A Resilient Market Participant Ranked third, Kraken posted a total XRP trading volume of 268,454,941, capturing 9.5% of the market. Known for its deep liquidity, strong security protocols, and consistent regulatory alignment, Kraken remains a critical part of XRP’s trading infrastructure. Kraken’s emphasis on security and compliance, especially with U.S. and European regulatory standards, has earned it a loyal user base. The exchange has also been instrumental in supporting XRP during periods of legal uncertainty, continuing to list the asset and provide access to global markets when other platforms chose to delist or suspend XRP pairs. Kraken’s position in the index reflects its resilience and continued trust among XRP traders. LMAX Digital: Institutional Depth LMAX Digital claims the fourth position with a trading volume of 203,020,459 XRP and a 7.18% market share. As an institution-focused exchange, LMAX Digital’s inclusion in the top five highlights the growing interest of professional investors in XRP. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Unlike retail-heavy platforms, LMAX Digital is designed to serve hedge funds, proprietary trading firms, and asset managers seeking transparent, regulated execution environments. The platform offers low-latency trading, robust infrastructure, and deep liquidity, all of which appeal to institutional XRP investors who prioritize efficiency and scale. LMAX’s steady rise in XRP volume indicates the strengthening role of institutional capital in XRP markets. Bitstamp: Legacy Platform with Strong Foundations Rounding out the top five is Bitstamp , which facilitated 190,473,389 XRP in trades, equating to 6.74% of the market share. Bitstamp is one of the oldest cryptocurrency exchanges in the world and has long maintained a reputation for regulatory compliance, stability, and user trust. Bitstamp’s continued presence among the leading XRP exchanges reflects its enduring appeal to conservative investors and institutions. The platform has consistently offered XRP trading pairs even during turbulent regulatory times, reinforcing its commitment to asset accessibility. Its partnership with Ripple in earlier years has also helped it remain closely aligned with XRP-related developments. Market Overview Altogether, these top five exchanges account for a combined XRP trading volume of 2,760,689,405 and control an overwhelming 97.66% share of the U.S. dollar-XRP trading market. The data, sourced from SMQKE’s public status and corroborated by market records, paints a clear picture of XRP’s trading ecosystem, where a few well-established platforms play an outsized role in determining price action, market sentiment, and liquidity availability. These rankings not only reflect current trading dynamics but also provide insights into the strategic positioning of exchanges within the evolving digital asset landscape. As XRP continues to regain momentum post-regulatory clarification and sees increasing use cases in cross-border payments, tokenization, and DeFi, the role of these trading platforms will become even more critical. Investors, analysts, and institutions would do well to monitor shifts in exchange rankings as they can often signal broader trends in the crypto market. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Top Five XRP Trading Platforms Ranked By Volume appeared first on Times Tabloid .