Based on the latest reports from CoinSwitch, it appears that Ripple (XRP) was the most traded cryptocurrency in India during the first quarter of 2025. While Indians have been strongly believing in traditional investment patterns like investing in gold, real estate, agricultural lands, and much more, they’re slowly moving towards modern investment, meaning digital assets.
While Bitcoin (BTC) remained the top choice for long-term investment, making up the largest portion of investor holdings on the CoinSwitch platform, Ripple accounted for the highest percentage of total trades at 13.3%, surpassing Bitcoin, Ethereum, and Shiba Inu in this metric.
The reasons behind XRP’s trading volume surge are multifaceted. Recent positive developments surrounding Ripple Labs’ legal battles, coupled with growing anticipation for clearer regulatory frameworks in India, may have contributed to increased speculative trading.
As per the report, Indians have been largely investing in Bitcoin (6.9%), Dogecoin (6.6%), and Ethereum (5.2%). Other popular holdings include Shiba Inu (4.2%) and Ripple (3.5%), underscoring the market’s trust in time-tested assets.
The report identifies PEPE (1.9%) as one of the newer assets that replaced Loopring in the top 10 positions. Other than that, Cardano, Polygon, Internet Computer, and Solana have also maintained their positions in the top 10 since December 2024.
Trading activity within the market has shown significant changes during this period. Current trading statistics indicate that Ripple (XRP) has replaced Shiba Inu. The crypto market keeps showing active trading of other digital assets, including Solana (5.6%), Ethereum (4.4%), PEPE (3.1%), and Shiba Inu (2.6%), in addition to blue-chip tokens.
POPCAT rose and entered the top 10 with a 1.6% trading share, but BONK decreased from sixth to the bottom with a 1.1% market share.
Balaji Srihari, Vice President of CoinSwitch, stated, “Bitcoin still holds its spot as a long-term favourite, and we’re seeing coins like Ripple and Solana surge in trading activity—likely driven by recent global developments.”
Additionally, he said meme coins like PEPE and BONK are gaining traction, especially among young investors who are open to high-risk, high-reward opportunities. It’s a reflection of how fast-evolving and layered the Indian crypto community is becoming.
The U.S. government became instrumental for mainstream crypto adoption during 2024, which created a significant change in global crypto markets. Experts anticipate that India, alongside prominent nations, will experience changing investor attitudes that support enlarging crypto acceptance.
According to Bernstein, the total crypto market capitalization will reach $7.5 trillion by 2025, and Bitcoin will take the lead with $3 trillion, followed by Ethereum with $1.8 trillion, and Solana and Avalanche will see $1.4 trillion. The India-based exchange CoinSwitch receives support from Coinbase Ventures along with Sequoia Capital and Tiger Global as it attracts 2 crore users to trade on its platform.
Also Read: Nearly 70% Supply of Ripple’s RLUSD Stablecoin is on Ethereum
