<p>谁在掌控 XRP 的权力？最近，机构资金开始流入，大钱包也在试图重新掌控。而且，值得注意的是！这一切都发生在价格走势并不理想的情况下。</p>
<p>以下是你需要知道的。</p>
<h2><strong>ETF 定调市场</strong></h2>
<p>现货 XRP ETF 的资金流入使总净资产超过 12 亿美元。即使在平静的日子里，资金流入仍然保持正向。兴趣看起来非常稳定（尽管有所减弱），而不是一次性的激增。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/image-2-2.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/image-2-2.png"/></p>
<p>来源：SoSoValue</p>
<p>这个趋势很有趣。尽管有一段时间的上涨，Ripple 的 [XRP] 价格仍然保持在 1.90 美元附近，而不是冲动反应。这是一个重要的买入信号，机构正在逐步建立敞口以形成基础。</p>
<h2><strong>鲸鱼在参与游戏</strong></h2>
<p>Santiment 数据显示，持有 1 亿到 10 亿 XRP 的钱包再次开始增加其份额。鲸鱼供应在本月早些时候短暂下降后，已回升至 12.8% 的范围。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/XRP-Ledger-XRP-10.12.49-21-Dec-2025.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/XRP-Ledger-XRP-10.12.49-21-Dec-2025.png"/></p>
<p>来源：Santiment</p>
<p>这一变化并不是逐渐发生的。在 12 月中旬下跌后，大持有者的持有量激增，因此持有并不是被动的。他们正在进行布局。</p>
<p>当鲸鱼与机构资金流入一起介入时，这意味着市场控制权正在转移。</p>
<h2><strong>XRP 正在努力稳定</strong></h2>
<p>在撰写本文时，XRP 的交易价格接近 1.94 美元，仍低于其关键的指数移动平均线（EMA）。20、50、100 和 200 日 EMA 仍然在上方，因此更大的趋势尚未转向看涨。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/47520379-fd09-4de6-a6c0-3b25db0c234c.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/47520379-fd09-4de6-a6c0-3b25db0c234c.png"/></p>
<p>来源：TradingView</p>
<p>这种犹豫在动量上也很明显。</p>
<p>RSI 大约在 43，略有恢复但没有强劲的买入压力。OBV 在本月早些时候下跌后也趋于平稳。</p>
<p>这意味着卖出减少而没有新的需求。MACD 也低于零，尽管下行动能似乎在减缓。</p>
<hr/>
<h2>最终思考</h2>
<ul>
<li><em>XRP 价格在 1.90 美元附近平稳，但超过 12 亿美元的 ETF 资产和上升的鲸鱼供应意味着持有者并未受到阻碍。</em></li>
<li><em>控制权正在转移，即使没有价格突破。</em></li>
</ul>

<p>尽管有 12 亿美元的 ETF 需求，XRP 的价格仍然保持在 1.90 美元附近平稳。机构资金流入和鲸鱼持仓增加表明市场控制权的转变，但价格并没有出现剧烈反应。XRP 交易于关键的指数移动平均线（EMA）以下，相对强弱指数（RSI）为 43，移动平均收敛发散指标（MACD）低于零，显示出卖压减弱但买压不足。控制权正在转变，但价格并未突破</p>

<p>Who holds the power in XRP? Lately, institutional money has moved in, and big wallets are also trying to take control again. And get this! This is all happening with price action that isn’t anything to write home about.</p>
<div class="lb-trans"><p>谁在掌控 XRP 的权力？最近，机构资金开始流入，大钱包也在试图重新掌控。而且，值得注意的是！这一切都发生在价格走势并不理想的情况下。</p>
</div><p>Here’s what you need to know.</p>
<div class="lb-trans"><p>以下是你需要知道的。</p>
</div><h2><strong>ETFs set the tone</strong></h2>
<div class="lb-trans"><h2><strong>ETF 定调市场</strong></h2>
</div><p>Spot XRP ETFs’ inflows have pushed total net assets past $1.2 billion. Even on mellow days, inflows have remained positive. The interest looks extremely consistent (though muted), rather than like a one-off spike.</p>
<div class="lb-trans"><p>现货 XRP ETF 的资金流入使总净资产超过 12 亿美元。即使在平静的日子里，资金流入仍然保持正向。兴趣看起来非常稳定（尽管有所减弱），而不是一次性的激增。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/image-2-2.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/image-2-2.png"/></p>
<p>Source: SoSoValue</p>
<div class="lb-trans"><p>来源：SoSoValue</p>
</div><p>The trend is interesting, though. Even with the big streak of green, Ripple’s [XRP] price has held near $1.90 instead of reacting impulsively. That’s a big buying sign, with institutions building exposure gradually to set a base.</p>
<div class="lb-trans"><p>这个趋势很有趣。尽管有一段时间的上涨，Ripple 的 [XRP] 价格仍然保持在 1.90 美元附近，而不是冲动反应。这是一个重要的买入信号，机构正在逐步建立敞口以形成基础。</p>
</div><h2><strong>Whales have some skin in the game</strong></h2>
<div class="lb-trans"><h2><strong>鲸鱼在参与游戏</strong></h2>
</div><p>Santiment data indicated that wallets holding between 100 million and 1 billion XRP have begun increasing their share again. Whale supply has climbed back toward the 12.8% range after a brief decline earlier this month.</p>
<div class="lb-trans"><p>Santiment 数据显示，持有 1 亿到 10 亿 XRP 的钱包再次开始增加其份额。鲸鱼供应在本月早些时候短暂下降后，已回升至 12.8% 的范围。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/XRP-Ledger-XRP-10.12.49-21-Dec-2025.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/XRP-Ledger-XRP-10.12.49-21-Dec-2025.png"/></p>
<p>Source: Santiment</p>
<div class="lb-trans"><p>来源：Santiment</p>
</div><p>The move hasn’t been gradual. After dipping in mid-December, large-holder ownership spiked, so holding isn’t passive. They’re positioning.</p>
<div class="lb-trans"><p>这一变化并不是逐渐发生的。在 12 月中旬下跌后，大持有者的持有量激增，因此持有并不是被动的。他们正在进行布局。</p>
</div><p>When whales step in alongside institutional inflows, it means market control is shifting hands.</p>
<div class="lb-trans"><p>当鲸鱼与机构资金流入一起介入时，这意味着市场控制权正在转移。</p>
</div><h2><strong>XRP is trying to steady itself</strong></h2>
<div class="lb-trans"><h2><strong>XRP 正在努力稳定</strong></h2>
</div><p>At the time of writing, XRP traded near $1.94, still below its key exponential moving averages (EMAs). The 20, 50, 100 and 200-day EMAs remained overhead, so the greater trend hadn’t yet flipped bullish.</p>
<div class="lb-trans"><p>在撰写本文时，XRP 的交易价格接近 1.94 美元，仍低于其关键的指数移动平均线（EMA）。20、50、100 和 200 日 EMA 仍然在上方，因此更大的趋势尚未转向看涨。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/47520379-fd09-4de6-a6c0-3b25db0c234c.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/47520379-fd09-4de6-a6c0-3b25db0c234c.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>That hesitation is visible in the momentum as well.</p>
<div class="lb-trans"><p>这种犹豫在动量上也很明显。</p>
</div><p>RSI was at around 43, with mild recovery but no strong buying pressure. OBV has also flattened after falling earlier in the month.</p>
<div class="lb-trans"><p>RSI 大约在 43，略有恢复但没有强劲的买入压力。OBV 在本月早些时候下跌后也趋于平稳。</p>
</div><p>That means selling has reduced with no new demand. The MACD was below zero, too, though downside momentum appeared to be slowing.</p>
<div class="lb-trans"><p>这意味着卖出减少而没有新的需求。MACD 也低于零，尽管下行动能似乎在减缓。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最终思考</h2>
</div><ul>
<li><em>XRP price is flat near $1.90, but $1.2B+ in ETF assets and rising whale supply mean holders aren’t deterred.</em></li>
<li><em>Control is shifting, even without a price breakout.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>XRP 价格在 1.90 美元附近平稳，但超过 12 亿美元的 ETF 资产和上升的鲸鱼供应意味着持有者并未受到阻碍。</em></li>
<li><em>控制权正在转移，即使没有价格突破。</em></li>
</ul>
</div>

尽管有 12 亿美元的 ETF 需求，为什么 XRP 仍然没有上涨