儘管加密貨幣市場遲鈍，XRP XRP/USD的第一季度卻保持著紮實

根據最近的一份報告，儘管加密貨幣市場遲鈍，但XRP XRP/USD在第一季度的第一季度卻保持著紮實的態度。

In the broader cryptocurrency market, most tokens had a sluggish first quarter, but not XRP, according to a recent report.

根據最近的一份報告，在更廣泛的加密貨幣市場中，大多數代幣的第一季度卻卻不舒服，但XRP效率不足。

What Happened: In its Q1 2025 XRP Markets report, Ripple (NYSE:RXL) provided an overview of key developments and market performance for XRP (CRYPTO:XRP).

發生了什麼：在其Q1 2025 XRP市場報告中，Ripple（NYSE：RXL）概述了XRP（加密：XRP）的關鍵發展和市場績效。

The token had a strong start to the year, particularly in February when it surged 50%. In comparison, Bitcoin (CRYPTO:BTC) remained flat, and Ethereum (CRYPTO:ETH) saw a decline during the same period.

代幣在今年的開端很強，尤其是在2月飆升50％的時候。相比之下，比特幣（加密：BTC）保持平坦，以太坊（Crypto：ETH）在同一時期下降。

Investment products tracking XRP witnessed an influx of $214 million in the year-to-date period, closely trailing Ethereum funds, which attracted around $215 million. This indicated an interesting shift in institutional allocators’ preferences.

追踪XRP的投資產品在年代至今的時期湧入了2.14億美元，落後於以太坊基金，吸引了約2.15億美元。這表明機構分配者的偏好發生了有趣的轉變。

Meanwhile, spot trading volume on top-tier exchanges averaged $3.2 billion daily, and XRP/BTC ratios saw an increase of over 10%.

同時，頂級交易所的現貨交易量平均每天32億美元，XRP/BTC比率增加了10％以上。

After a rally from around $0.30 in January to briefly touch $3.40 in March, XRP's price movements slowed down. Realized volatility ranged from 100% to 130%, a measure of how much, on average, XRP investors collectively lost or made during the quarter.

在一月份的0.30美元左右舉行的集會（3月）短暫觸及3.40美元之後，XRP的價格變動放慢了速度。實現的波動率從100％到130％不等，這是對XRP投資者在本季度的平均損失或製造的量度。

Among exchanges, Binance (CRYPTO:BNB) led with a 40% share in trading volume, followed by Upbit at 15% and Coinbase (NASDAQ:COIN) at 12%.

在交易所中，Binance（加密：BNB）以40％的交易量領先，其次是15％的UPBIT，Coinbase（NASDAQ：COIN）為12％。

However, on-chain activity slowed down during the quarter, with new wallets and transactions decreasing by 30% to 40% quarter-over-quarter. This coincided with the broader crypto market slowdown.

但是，本季度的鏈活動減慢了，新錢包和交易量下降了30％至40％。這與更廣泛的加密貨幣市場放緩相吻合。

Why It Matters: XRP's strong Q1 can be attributed to accelerating institutional tailwinds. Franklin Templeton (NYSE:TEML) filed an S-1 for a U.S. spot XRP ETF.

它的原因是：XRP的強大Q1可以歸因於加速機構的逆風。富蘭克林·鄧普頓（Franklin Templeton）（NYSE：TEML）為美國Spot XRP ETF提交了S-1。

The CME Group (NYSE:CME) announced plans for XRP futures, and Brazil's economic and financial crimes council (CONEF) approved the launch of a dedicated XRP ETF.

CME集團（NYSE：CME）宣布了XRP期貨計劃，巴西的經濟和金融犯罪委員會（CONEF）批准了啟動專用的XRP ETF。

On the legal side, the U.S. Securities and Exchange Commission dropped its appeal against a judge's ruling that XRP is not a security, and a federal judge ordered the agency to pay part of Ripple's legal fees.

在法律方面，美國證券交易委員會對法官裁定XRP不是安全性的裁決提出上訴，聯邦法官命令該機構支付一部分Ripple的法律費用。

Moreover, the SEC reached a settlement with Ripple for a reduced penalty of $50 million, and the court will now consider vacating the earlier injunction that barred Ripple from selling XRP in the U.S.

此外，SEC與Ripple達成和解，減少了5000萬美元的罰款，法院現在將考慮撤離較早的禁令，禁止Ripple在美國出售XRP

A pro-crypto shift in the U.S. administration, following President Trump's departure, also contributed to a positive environment. This included executive orders on crypto and new appointments to key administration roles focused on fostering innovation in the sector.

在特朗普總統離開後，美國政府的親克萊普托轉變也為積極的環境做出了貢獻。這包括有關加密貨幣的執行命令和新任命，以致力於促進該行業的創新。

In another development, Ripple closed a major acquisition, purchasing an advanced technology firm called Hidden Road for $1.25 billion.

在另一項開發項目中，Ripple結束了一次重大收購，以12.5億美元的價格購買了一家名為“ Hidden Road”的先進技術公司。