XRP Surpasses Bitcoin in Trading Volume as PEPE Joins Top Investments in India’s Crypto Market

By Navdeep Singh, ETMarkets.com

Updated: April 22, 2025, 07:32 PM IST

In a significant development for the cryptocurrency landscape in India, Ripple’s XRP has overtaken Bitcoin in trading volume during the first quarter of 2025, according to a new report from CoinSwitch. This shift signals changing investor behavior, particularly among younger individuals, as they explore both established cryptocurrencies and newer, more volatile options.

Shifting Trading Dynamics

Data released from CoinSwitch indicates that XRP accounted for 13.3% of total trades on its platform from January to March 2025, marking a notable increase from its trading volume at the end of last year. This rise has propelled XRP beyond Bitcoin and Shiba Inu, indicating a growing interest in alternative cryptocurrencies amid fluctuating market conditions.

“Coins like Ripple and Solana are surging in trading activity, likely driven by recent global developments,” stated Balaji Srihari, Vice President at CoinSwitch. His comments highlight a significant trend as investors diversify their portfolios, blending traditional stable currencies like Bitcoin and Ethereum with riskier assets such as PEPE and POPCAT.

The Rise of Meme Coins

In addition to XRP’s gains, meme coin PEPE has surged into the top ten cryptocurrencies held by Indian investors, now comprising 1.9% of their portfolios. This entry indicates a growing appetite among investors for high-risk, high-reward opportunities, especially in younger demographics. Other meme-focused assets, like BONK, are also witnessing increased interest.

Investor behavior is showing a blend of long-term confidence in established assets like Bitcoin (which still holds the title of the most widely held cryptocurrency at 6.9%) and short-term attention towards trending tokens. Noteworthy positions include Dogecoin at 6.6% and Ethereum at 5.2%, followed by a variety of newer assets.

Portfolio Diversification Trends

The overall crypto investment landscape sees a substantial mix of safer and riskier bets. Alongside XRP and Bitcoin, established tokens such as Shiba Inu (4.2%), Cardano (3.3%), and Polygon (2.9%) maintain noteworthy positions in investment portfolios. Conversely, the rise of newer coins indicates an evolving trend toward more speculative investments, which reflects a dynamic and layered approach within India’s cryptocurrency community.

“Meme coins like PEPE and BONK are gaining traction, especially among young investors who are open to high-risk, high-reward opportunities,” Srihari noted, emphasizing the adaptability of investors in an ever-changing market landscape.

Looking Ahead

As India’s crypto market adapts to global influences and changing sentiments, further shifts could be anticipated in the coming months, especially with anticipated regulatory changes. Such adjustments may continue to reshape investment strategies as both traditional and innovative coins vie for the attention of Indian investors.

In conclusion, the rise of XRP and the emergence of meme coins symbolize the changing tides in Indian cryptocurrency investments, paving the way for more diverse portfolios and strategies among investors of all ages.

(Disclaimer: Recommendations, suggestions, views, and opinions expressed in this article are those of the author and do not necessarily reflect the views of Economic Times.)

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