此举使XRP成为第一个由美国调节的山寨币

此举使XRP成为以比特币和以太坊之后的第一个由美国调节的替代币，可以在CME衍生品平台上进行交易。

The cryptocurrency market continues to be a hot topic of conversation, especially with the recent launch of CME-traded XRP futures. This move makes XRP the first U.S.-regulated altcoin, after Bitcoin and Ethereum—to be traded on the CME derivatives platform. The contracts are cash-settled and priced off a daily reference rate, with sizes of 2,500 and 50,000 XRP.

加密货币市场仍然是对话的热门话题，尤其是随着CME交易XRP期货的最近推出。此举使XRP成为以比特币和以太坊之后的第一个由美国调节的替代币，可以在CME衍生品平台上进行交易。这些合同是现金分配的，并定价为每日参考率，尺寸为2500和50,000 XRP。

The launch was confirmed by ETF Store President Nate Geraci, who stated, “CME-traded XRP futures are now live. CFTC-regulated contracts on XRP. Spot XRP ETFs [are] only a matter of time.” This follows a previous report by CC XV, highlighting the significance of the moment.

ETF商店总裁内特·格拉西（Nate Geraci）确认了发布会，他说：“ CME交易的XRP期货现已实时。这是CC XV先前的报告，突出了当下的重要性。

The launch places XRP alongside major cryptocurrencies already available on CME—Bitcoin, Ethereum, and Solana—cementing its role in the institutional crypto market.

该发布会将XRP与CME（Bitcoin，Ethereum和Solana）上已经可用的主要加密货币一起发挥作用，从而在机构加密市场中发挥了作用。

This development comes as crypto hedge funds have reportedly pulled out of the market in droves, and despite a recent surge in bitcoin futures, the overall volume of bitcoin futures trading has seen a decline.

据报道，加密货币对冲基金以斗争的价格撤出市场，尽管比特币期货最近激增，但比特币期货交易的总数仍在下降。

The launch of CME-traded XRP futures also comes amid a surge in new applications for bitcoin and ether ETFs from various asset management firms. Notably, Cathie Wood’s ARK Invest has applied for an ETF that would directly track the price of bitcoin, a move that could have far-reaching implications for the crypto market.

CME交易XRP期货的推出也引起了各种资产管理公司的比特币和Ether ETF的新应用程序的激增。值得注意的是，Cathie Wood的ARK Invest申请了ETF，该ETF直接跟踪比特币的价格，这一举动可能对加密市场具有深远的影响。

However, the SEC’s actions on these applications remain uncertain, especially given its rejection of several bitcoin and ether ETF applications in the past.

但是，SEC对这些应用程序的行为仍然不确定，尤其是考虑到过去对几个比特币和Ether ETF应用程序的拒绝。

While the futures market is heating up, on-chain signals depict a more complex picture of XRP valuation and market sentiment. Over the past week, 10 million to 100 million XRP holders accumulated assets with over 12.1% of the circulating supply now in their hands. That’s an increase from 11.58% in April that depicts enhanced whale faith in XRP’s long-term prospects.

当期货市场升温时，链上信号描绘了XRP估值和市场情绪的更复杂图片。在过去的一周中，现在有1000万至1亿XRP持有人积累了资产，目前，循环供应量的12.1％以上。这是4月份的11.58％的增长，它描绘了对XRP长期前景的增强信仰。

This coincides with a massive purchase by a whale of nearly 250 million XRP, worth over $500 million, without triggering any noticeable price movement, raising questions about market dynamics. Stellar Expert, a crypto analyst, highlighted this activity on X (formerly Twitter).

这与近2.5亿XRP的鲸鱼进行了大量购买，价值超过5亿美元，而没有触发任何明显的价格变动，从而引发了有关市场动态的疑问。加密分析师Stellar Expert在X（以前为Twitter）上强调了这项活动。

At the same time, XRP exchange reserves increased from 2.7 billion to 2.9 billion XRP on Binance, according to CryptoQuant. This is typically an indication of growing selling pressure, as traders usually send money to exchanges when they intend to sell their assets.

据CryptoQuant称，与此同时，XRP Exchange Reserves从27亿增加到29亿XRP。这通常表明销售压力增加，因为交易者通常在打算出售其资产时向交易所汇款。

However, the overall sentiment in the market is cautiously upbeat. Its present trading volume is $4.63 billion, while its open interest in futures has climbed to $4.94 billion, indicative of increasing market participation. This could add more impetus to the momentum and push XRP towards the key psychological level of $3.00.

但是，市场上的总体情绪谨慎乐观。目前的交易量为46.3亿美元，而其对期货的开放兴趣已攀升至49.4亿美元，这表明市场参与的增加。这可能会增加动力的更多动力，并将XRP推向$ 3.00的关键心理水平。

Technically, XRP is both showing its capacity for a bull run as well as short-term vulnerability. With its current trading value of approximately $2.44, the Ripple currency price has formed a higher low trend supported by optimistic moving averages. Indicators like the Relative Strength Index (RSI) show light bullish bias but yet remain below the overbought threshold.

从技术上讲，XRP都显示出其牛跑和短期脆弱性的能力。凭借目前的交易价值约为2.44美元，波纹货币价格已经形成了更高的低趋势，该趋势由乐观的移动平均值支持。诸如相对强度指数（RSI）之类的指标表现出轻度看涨的偏见，但仍低于超购买阈值。

Of interest, the XRP/BTC pair has formed a golden cross on the weekly chart for the first time since 2017, as the 50-week moving average has crossed over the 200-week average. Historically, this type of formation preceded a 1,000% climb that pushed XRP to its all-time high of $3.40 in January of 2018.

令人感兴趣的是，自2017年以来，XRP/BTC对首次在每周图表上形成了一个金十字，因为50周的移动平均线超过200周的平均水平。从历史上看，这种类型的地层在1,000％的攀登之前，将XRP推向了2018年1月的历史最高高点3.40美元。

Yet, there are still some caution signs. A double top at the level of about $2.65 and recent failure from a rising wedge setup signal a possible short-term correction to $1.94. XRP is also near an important level of support at $2.00–$2.04, where some about $50 million of leveraged long positions are vulnerable to liquidation with further decline in price.

但是，仍然有一些警告信号。大约2.65美元的双层高层，最近因上升的楔形设置而失败，这可能是短期校正，可能是1.94美元。 XRP也接近2.00-2.04美元的重要水平，其中约有5000万美元的杠杆长度容易受到清算的影响，价格进一步下降。

According to Glassnode's Net Unrealized Profit/Loss (NUPL) metric, XRP investors appear to have entered the "denial" stage—a stage typically encountered before price corrections. This observation is based on an analysis of the latest data from the cryptocurrency market.

根据GlassNode的净未实现的盈利/损失（NUPL）度量，XRP投资者似乎已经进入了“拒绝”阶段，这通常是在价格更正之前遇到的阶段。该观察结果基于对加密货币市场的最新数据的分析。

The visualization showcases the transitions in investor sentiment and market behavior during bull and bear markets. As the market price deviates significantly from the realized price (the price at which coins last changed hands, used to calculate the total market cap), NUPL moves further away from zero, indicating either extreme optimism or pessimism among investors.

可视化展示了牛市和熊市期间投资者情绪和市场行为的过渡。随着市场价格显着偏离已实现的价格（硬币上一次易手的价格，用于计算总市场上限的价格），NUPL远离零移动，表明投资者的极端乐观或悲观主义。

The chart highlights that during previous bull market cycles, when the market experienced substantial corrections, such as in 20

该图表凸显了在以前的牛市周期中，当市场经过大量校正时，例如20