<p>Ripple 的 XRP 采用加速，机构资金持续吸收代币，即使价格走势保持压缩。</p>
<p>在 2025 年 12 月 31 日，XRP 交易价格接近 1.87 美元。尽管波动有限，但多个链上和衍生品信号共同增强。</p>
<p>ETF 资金流入保持稳定，交易所余额下降，XRPL 基础设施活动扩大。这些信号与停滞的现货价格行为形成了鲜明对比。</p>
<p>那么，XRP 是在供应收紧的情况下悄然整合，还是仅仅跟随更广泛市场的犹豫？</p>
<h2><strong>XRPL 的真实世界资产动能持续悄然增长</strong></h2>
<p>链上数据表明，XRP 账本在过去 30 天内排名第二快增长的真实世界资产网络。增长达近 18%，仅次于 Canton。</p>
<p>在同一时期，XRPL 在相对真实世界资产扩展方面超越了以太坊、Solana 和 Avalanche。数据指向基础设施采用的上升。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/RWA.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="679" height="244" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/RWA.jpg"/></p>
<p>来源：X</p>
<p>这一增长突显了代币化金融和合规性用例的日益相关性。然而，价格却没有反应。</p>
<p>基础设施主导的采用通常会在重新定价之前发生，但时机取决于更广泛的流动性条件。</p>
<h2><strong>ETF 资金流入悄然减少交易所供应</strong></h2>
<p>与此同时，交易所上的 XRP 供应降至七年来的最低点，余额从 10 月份的 3.76 亿代币降至约 1.6 亿代币。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/G9esXDYa8AAl0Xo.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="680" height="337" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/G9esXDYa8AAl0Xo.jpg"/></p>
<p>来源：Glassnode</p>
<p>这一下降与美国现货 XRP ETF 资金流入的持续相吻合。ETF 每日资金流入达 1500 万美元，延续了数周的趋势。</p>
<p>随着 ETF 积累 XRP，集中交易所可用的代币减少。这些新鲸鱼通过稳定吸收减少了即时卖方的可用性。</p>
<p>机构需求继续吸收供应，即使价格未能突破更高水平。</p>
<h2><strong>上方流动性限制了上涨压力</strong></h2>
<p>来自 Binance 的衍生品数据显示，重度未认领流动性集中在 2.50 美元至 3.20 美元的价格区间。这些区域反映了来自杠杆头寸的集中清算兴趣。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/SIC.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="680" height="448" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/SIC.jpg"/></p>
<p>来源：Steph Is Crypto</p>
<p>上方流动性在先前整合高点附近最为密集，反复失败的上涨使得风险敞口增加。价格继续在这些区间下方交易。</p>
<p>这样的流动性集群在区间震荡条件下通常充当阻力，保持 XRP 压缩在集中定位区域下方。</p>
<p>XRP 在 1.73 美元的支撑和 2.32 美元的阻力之间交易，这一范围是在 11 月中旬建立的。动能指标反映出犹豫不决。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/XRPUSDT_2025-12-31_14-18-05.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1169" height="849" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/XRPUSDT_2025-12-31_14-18-05.png"/></p>
<p>来源：TradingView</p>
<p>RSI 徘徊在中性水平附近，而 MACD 信号则保持混合，表明双方都未能控制方向。</p>
<h2><strong>接下来要关注的事项</strong></h2>
<p>市场关注 ETF 驱动的吸收和基础设施增长是否最终能够影响价格发现。</p>
<p>突破区间可能需要扩大交易量和更广泛的市场参与。</p>
<hr/>
<h2><strong>最终思考</strong></h2>
<ul>
<li><em>尽管价格走势停滞，ETF 资金流入似乎在减少交易所供应方面发挥了关键作用。</em></li>
<li><em>XRP 在采用与价格之间的背离表明耐心主导了当前市场定位。</em></li>
</ul>

<p>Ripple 的 XRP 采用率正在上升，机构资金流入吸收了代币，目前 XRP 交易价格约为 1.87 美元。尽管价格波动停滞，但链上数据显示，XRP Ledger 是增长速度第二快的现实资产网络。ETF 资金流入使交易所的供应量降至七年来的最低水平，日均流入达到 1500 万美元。然而，头部流动性限制了上涨压力，使 XRP 维持在 1.73 美元到 2.32 美元的交易区间内。市场正在关注 ETF 吸收和基础设施增长对潜在价格发现的影响，这表明在当前的市场定位中需要耐心</p>

<p>Ripple’s XRP adoption intensified as institutional flows steadily absorbed tokens, even while price action remained compressed.</p>
<div class="lb-trans"><p>Ripple 的 XRP 采用加速，机构资金持续吸收代币，即使价格走势保持压缩。</p>
</div><p>On the 31st of December 2025, XRP traded near $1.87. Despite muted movement, multiple on-chain and derivatives signals strengthened together.</p>
<div class="lb-trans"><p>在 2025 年 12 月 31 日，XRP 交易价格接近 1.87 美元。尽管波动有限，但多个链上和衍生品信号共同增强。</p>
</div><p>ETF inflows remained consistent, exchange balances declined, and XRPL infrastructure activity expanded. These signals diverged sharply from stagnant spot price behavior.</p>
<div class="lb-trans"><p>ETF 资金流入保持稳定，交易所余额下降，XRPL 基础设施活动扩大。这些信号与停滞的现货价格行为形成了鲜明对比。</p>
</div><p>So, was XRP consolidating quietly as supply tightened, or simply tracking broader market hesitation?</p>
<div class="lb-trans"><p>那么，XRP 是在供应收紧的情况下悄然整合，还是仅仅跟随更广泛市场的犹豫？</p>
</div><h2><strong>XRPL’s RWA momentum continued building quietly</strong></h2>
<div class="lb-trans"><h2><strong>XRPL 的真实世界资产动能持续悄然增长</strong></h2>
</div><p>On-chain data showed the XRP Ledger ranking as the second fastest-growing real-world asset network over the past 30 days. Growth reached nearly 18%, trailing only Canton.</p>
<div class="lb-trans"><p>链上数据表明，XRP 账本在过去 30 天内排名第二快增长的真实世界资产网络。增长达近 18%，仅次于 Canton。</p>
</div><p>XRPL outpaced Ethereum, Solana, and Avalanche in relative RWA expansion during the same period. The data pointed toward rising infrastructure adoption.</p>
<div class="lb-trans"><p>在同一时期，XRPL 在相对真实世界资产扩展方面超越了以太坊、Solana 和 Avalanche。数据指向基础设施采用的上升。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/RWA.jpg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/RWA.jpg"/></p>
<p>Source: X</p>
<div class="lb-trans"><p>来源：X</p>
</div><p>This growth highlighted increasing relevance in tokenized finance and compliance-focused use cases. Price, however, remained unresponsive.</p>
<div class="lb-trans"><p>这一增长突显了代币化金融和合规性用例的日益相关性。然而，价格却没有反应。</p>
</div><p>Infrastructure-led adoption often preceded repricing, but timing depended on broader liquidity conditions.</p>
<div class="lb-trans"><p>基础设施主导的采用通常会在重新定价之前发生，但时机取决于更广泛的流动性条件。</p>
</div><h2><strong>ETF inflows quietly reduced exchange supply</strong></h2>
<div class="lb-trans"><h2><strong>ETF 资金流入悄然减少交易所供应</strong></h2>
</div><p>At the same time, XRP supply on exchanges fell to a seven-year low, with balances dropping to roughly 1.6 B tokens from 3.76 B in October.</p>
<div class="lb-trans"><p>与此同时，交易所上的 XRP 供应降至七年来的最低点，余额从 10 月份的 3.76 亿代币降至约 1.6 亿代币。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/G9esXDYa8AAl0Xo.jpg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/G9esXDYa8AAl0Xo.jpg"/></p>
<p>Source: Glassnode</p>
<div class="lb-trans"><p>来源：Glassnode</p>
</div><p>The decline coincided with sustained U.S. spot XRP ETF inflows. ETFs recorded $15 million in daily inflows, extending a multi-week streak.</p>
<div class="lb-trans"><p>这一下降与美国现货 XRP ETF 资金流入的持续相吻合。ETF 每日资金流入达 1500 万美元，延续了数周的趋势。</p>
</div><p>As ETFs accumulated XRP, fewer tokens remained available on centralized exchanges. These new whales reduced immediate sell-side availability through steady absorption.</p>
<div class="lb-trans"><p>随着 ETF 积累 XRP，集中交易所可用的代币减少。这些新鲸鱼通过稳定吸收减少了即时卖方的可用性。</p>
</div><p>Institutional demand continued to absorb supply, even as prices failed to break higher.</p>
<div class="lb-trans"><p>机构需求继续吸收供应，即使价格未能突破更高水平。</p>
</div><h2><strong>Overhead liquidity capped upside pressure</strong></h2>
<div class="lb-trans"><h2><strong>上方流动性限制了上涨压力</strong></h2>
</div><p>Derivatives data from Binance showed heavy unclaimed liquidity, clustered above the $2.50–$3.20 price region. These zones reflected concentrated liquidation interest from leveraged positions.</p>
<div class="lb-trans"><p>来自 Binance 的衍生品数据显示，重度未认领流动性集中在 2.50 美元至 3.20 美元的价格区间。这些区域反映了来自杠杆头寸的集中清算兴趣。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/SIC.jpg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/SIC.jpg"/></p>
<p>Source: Steph Is Crypto</p>
<div class="lb-trans"><p>来源：Steph Is Crypto</p>
</div><p>Overhead liquidity remained densest around prior consolidation highs, where repeated failed advances had built exposure. Price continued to trade beneath these bands.</p>
<div class="lb-trans"><p>上方流动性在先前整合高点附近最为密集，反复失败的上涨使得风险敞口增加。价格继续在这些区间下方交易。</p>
</div><p>Such liquidity clusters often acted as resistance during range-bound conditions, keeping XRP compressed below areas of concentrated positioning.</p>
<div class="lb-trans"><p>这样的流动性集群在区间震荡条件下通常充当阻力，保持 XRP 压缩在集中定位区域下方。</p>
</div><p>XRP traded between $1.73 support and $2.32 resistance, a range established around mid-November. Momentum indicators reflected indecision.</p>
<div class="lb-trans"><p>XRP 在 1.73 美元的支撑和 2.32 美元的阻力之间交易，这一范围是在 11 月中旬建立的。动能指标反映出犹豫不决。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/XRPUSDT_2025-12-31_14-18-05.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/XRPUSDT_2025-12-31_14-18-05.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>RSI hovered near neutral levels, while MACD signals remained mixed, suggesting neither side controlled direction.</p>
<div class="lb-trans"><p>RSI 徘徊在中性水平附近，而 MACD 信号则保持混合，表明双方都未能控制方向。</p>
</div><h2><strong>What to watch next</strong></h2>
<div class="lb-trans"><h2><strong>接下来要关注的事项</strong></h2>
</div><p>Markets watched for whether ETF-driven absorption and infrastructure growth could eventually influence price discovery.</p>
<div class="lb-trans"><p>市场关注 ETF 驱动的吸收和基础设施增长是否最终能够影响价格发现。</p>
</div><p>A range breakout would likely require expanding volume and broader market participation.</p>
<div class="lb-trans"><p>突破区间可能需要扩大交易量和更广泛的市场参与。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2><strong>Final Thoughts</strong></h2>
<div class="lb-trans"><h2><strong>最终思考</strong></h2>
</div><ul>
<li><em>ETF inflows appeared to play a key role in reducing exchange supply despite stagnant price action.</em></li>
<li><em>XRP’s divergence between adoption and price suggested patience dominated current market positioning.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>尽管价格走势停滞，ETF 资金流入似乎在减少交易所供应方面发挥了关键作用。</em></li>
<li><em>XRP 在采用与价格之间的背离表明耐心主导了当前市场定位。</em></li>
</ul>
</div>

随着 ETF 资金流入吸收市场供应，XRP 的采用率上升——需关注 2026 年的相关信号