<p>Ripple 的 XRP 採用加速，機構資金持續吸收代幣，即使價格走勢保持壓縮。</p>
<p>在 2025 年 12 月 31 日，XRP 交易價格接近 1.87 美元。儘管波動有限，但多個鏈上和衍生品信號共同增強。</p>
<p>ETF 資金流入保持穩定，交易所餘額下降，XRPL 基礎設施活動擴大。這些信號與停滯的現貨價格行為形成了鮮明對比。</p>
<p>那麼，XRP 是在供應收緊的情況下悄然整合，還是僅僅跟隨更廣泛市場的猶豫？</p>
<h2><strong>XRPL 的真實世界資產動能持續悄然增長</strong></h2>
<p>鏈上數據表明，XRP 賬本在過去 30 天內排名第二快增長的真實世界資產網絡。增長達近 18%，僅次於 Canton。</p>
<p>在同一時期，XRPL 在相對真實世界資產擴展方面超越了以太坊、Solana 和 Avalanche。數據指向基礎設施採用的上升。</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>來源：X</p>
<p>這一增長突顯了代幣化金融和合規性用例的日益相關性。然而，價格卻沒有反應。</p>
<p>基礎設施主導的採用通常會在重新定價之前發生，但時機取決於更廣泛的流動性條件。</p>
<h2><strong>ETF 資金流入悄然減少交易所供應</strong></h2>
<p>與此同時，交易所上的 XRP 供應降至七年來的最低點，餘額從 10 月份的 3.76 億代幣降至約 1.6 億代幣。</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>來源：Glassnode</p>
<p>這一下降與美國現貨 XRP ETF 資金流入的持續相吻合。ETF 每日資金流入達 1500 萬美元，延續了數週的趨勢。</p>
<p>隨着 ETF 積累 XRP，集中交易所可用的代幣減少。這些新鯨魚通過穩定吸收減少了即時賣方的可用性。</p>
<p>機構需求繼續吸收供應，即使價格未能突破更高水平。</p>
<h2><strong>上方流動性限制了上漲壓力</strong></h2>
<p>來自 Binance 的衍生品數據顯示，重度未認領流動性集中在 2.50 美元至 3.20 美元的價格區間。這些區域反映了來自槓桿頭寸的集中清算興趣。</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>來源：Steph Is Crypto</p>
<p>上方流動性在先前整合高點附近最為密集，反覆失敗的上漲使得風險敞口增加。價格繼續在這些區間下方交易。</p>
<p>這樣的流動性集羣在區間震盪條件下通常充當阻力，保持 XRP 壓縮在集中定位區域下方。</p>
<p>XRP 在 1.73 美元的支撐和 2.32 美元的阻力之間交易，這一範圍是在 11 月中旬建立的。動能指標反映出猶豫不決。</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>來源：TradingView</p>
<p>RSI 徘徊在中性水平附近，而 MACD 信號則保持混合，表明雙方都未能控制方向。</p>
<h2><strong>接下來要關注的事項</strong></h2>
<p>市場關注 ETF 驅動的吸收和基礎設施增長是否最終能夠影響價格發現。</p>
<p>突破區間可能需要擴大交易量和更廣泛的市場參與。</p>
<hr/>
<h2><strong>最終思考</strong></h2>
<ul>
<li><em>儘管價格走勢停滯，ETF 資金流入似乎在減少交易所供應方面發揮了關鍵作用。</em></li>
<li><em>XRP 在採用與價格之間的背離表明耐心主導了當前市場定位。</em></li>
</ul>

<p>Ripple 的 XRP 採用率正在上升，機構資金流入吸收了代幣，目前 XRP 交易價格約為 1.87 美元。儘管價格波動停滯，但鏈上數據顯示，XRP Ledger 是增長速度第二快的現實資產網絡。ETF 資金流入使交易所的供應量降至七年來的最低水平，日均流入達到 1500 萬美元。然而，頭部流動性限制了上漲壓力，使 XRP 維持在 1.73 美元到 2.32 美元的交易區間內。市場正在關注 ETF 吸收和基礎設施增長對潛在價格發現的影響，這表明在當前的市場定位中需要耐心</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 採用加速，機構資金持續吸收代幣，即使價格走勢保持壓縮。</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 交易價格接近 1.87 美元。儘管波動有限，但多個鏈上和衍生品信號共同增強。</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 資金流入保持穩定，交易所餘額下降，XRPL 基礎設施活動擴大。這些信號與停滯的現貨價格行為形成了鮮明對比。</p>
</div><p>So, was XRP consolidating quietly as supply tightened, or simply tracking broader market hesitation?</p>
<div class="lb-trans"><p>那麼，XRP 是在供應收緊的情況下悄然整合，還是僅僅跟隨更廣泛市場的猶豫？</p>
</div><h2><strong>XRPL’s RWA momentum continued building quietly</strong></h2>
<div class="lb-trans"><h2><strong>XRPL 的真實世界資產動能持續悄然增長</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>鏈上數據表明，XRP 賬本在過去 30 天內排名第二快增長的真實世界資產網絡。增長達近 18%，僅次於 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>在同一時期，XRPL 在相對真實世界資產擴展方面超越了以太坊、Solana 和 Avalanche。數據指向基礎設施採用的上升。</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>來源：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>這一增長突顯了代幣化金融和合規性用例的日益相關性。然而，價格卻沒有反應。</p>
</div><p>Infrastructure-led adoption often preceded repricing, but timing depended on broader liquidity conditions.</p>
<div class="lb-trans"><p>基礎設施主導的採用通常會在重新定價之前發生，但時機取決於更廣泛的流動性條件。</p>
</div><h2><strong>ETF inflows quietly reduced exchange supply</strong></h2>
<div class="lb-trans"><h2><strong>ETF 資金流入悄然減少交易所供應</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>與此同時，交易所上的 XRP 供應降至七年來的最低點，餘額從 10 月份的 3.76 億代幣降至約 1.6 億代幣。</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>來源：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>這一下降與美國現貨 XRP ETF 資金流入的持續相吻合。ETF 每日資金流入達 1500 萬美元，延續了數週的趨勢。</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>隨着 ETF 積累 XRP，集中交易所可用的代幣減少。這些新鯨魚通過穩定吸收減少了即時賣方的可用性。</p>
</div><p>Institutional demand continued to absorb supply, even as prices failed to break higher.</p>
<div class="lb-trans"><p>機構需求繼續吸收供應，即使價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>上方流動性限制了上漲壓力</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>來自 Binance 的衍生品數據顯示，重度未認領流動性集中在 2.50 美元至 3.20 美元的價格區間。這些區域反映了來自槓桿頭寸的集中清算興趣。</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>來源：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>上方流動性在先前整合高點附近最為密集，反覆失敗的上漲使得風險敞口增加。價格繼續在這些區間下方交易。</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>這樣的流動性集羣在區間震盪條件下通常充當阻力，保持 XRP 壓縮在集中定位區域下方。</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 美元的支撐和 2.32 美元的阻力之間交易，這一範圍是在 11 月中旬建立的。動能指標反映出猶豫不決。</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>來源：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 信號則保持混合，表明雙方都未能控制方向。</p>
</div><h2><strong>What to watch next</strong></h2>
<div class="lb-trans"><h2><strong>接下來要關注的事項</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>市場關注 ETF 驅動的吸收和基礎設施增長是否最終能夠影響價格發現。</p>
</div><p>A range breakout would likely require expanding volume and broader market participation.</p>
<div class="lb-trans"><p>突破區間可能需要擴大交易量和更廣泛的市場參與。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2><strong>Final Thoughts</strong></h2>
<div class="lb-trans"><h2><strong>最終思考</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>儘管價格走勢停滯，ETF 資金流入似乎在減少交易所供應方面發揮了關鍵作用。</em></li>
<li><em>XRP 在採用與價格之間的背離表明耐心主導了當前市場定位。</em></li>
</ul>
</div>

隨着 ETF 資金流入吸收市場供應，XRP 的採用率上升——需關注 2026 年的相關信號