Ripple将日落其季度XRP市场报告

Ripple将在第二季度2025年第2季度以当前形式日落其季度的XRP市场报告，随着代币的需求更多，新版本包括更深入的见解

Crypto behemoth Ripple will be sunsetting its quarterly XRP markets reports in the current format after Q2 2025, with newer versions set to include deeper insights as the token grabs more demand among institutional investors.

Crypto Behemoth Ripple将以2025年第2季度的季度XRP市场报告日落为季度的XRP市场报告，随着代币在机构投资者中的需求增加，较新的版本将包括更深入的见解。

The macroeconomic headwinds that battered crypto markets throughout 2024 appear to be easing, setting the stage for a potential recovery in the second half of 2025, according to Ripple’s first-quarter report.

根据Ripple的第一季度报告，宏观经济的逆风在2024年打击了加密货币市场，这似乎正在放松，为2025年下半年的潜在恢复奠定了基础。

Despite a strong start to the year, crypto markets encountered turbulence in March with the collapse of Silicon Valley Bank and subsequent macroeconomic uncertainty pushing BTC down 14% and ETH down 27% during the quarter.

尽管本年度的开端很强，但加密货币市场在三月份遇到了动荡，随着硅谷银行的崩溃，该季度将BTC下降了14％，ETH下跌了14％，而宏观经济不确定性下降了27％。

However, the reality is that the report has not had the intended effect,” Ripple said.

但是，现实是该报告没有产生预期效果。” Ripple说。

“In many instances, Ripple’s transparency has been used against the company, most notably by former SEC leadership. As more institutions engage with XRP, additional perspectives and insights are expected to follow, pushing the market conversation forward.”

“在许多情况下，Ripple的透明度已针对公司，最著名的是由前SEC领导层使用。随着越来越多的机构与XRP互动，预计将遵循其他观点和见解，从而推动市场对话的前进。”

This comes amid a flurry of XRP-based ETF filings in the U.S. and Brazil, with a leveraged XRP ETF already offered to investors since April.

这是在美国和巴西的一系列基于XRP的ETF文件中，自4月以来已经提供了XRP ETF的利用XRP ETF。

XRP delivered one of the strongest performances among major cryptocurrencies in Q1 2025, surging nearly 50% in early February and outpacing both bitcoin (BTC) and ether (ETH) during a period marked by market turbulence and rising macroeconomic uncertainty.

XRP在2025年第1季度的主要加密货币中表现最强，在2月初飙升了近50％，并在市场湍流和宏观经济不确定性上增加的时期内超过了比特币（BTC）和Ether（ETH）。

While BTC remained range-bound and ETH trended lower, XRP stood out for its relative strength, with the XRP/BTC ratio rising more than 10% during the quarter, the report noted.

该报告指出，尽管BTC保持距离范围，而ETH趋势较低，但XRP的相对强度突出，XRP/BTC比率在本季度上升超过10％。

That strength was matched by growing institutional interest. XRP-based investment products recorded $37.7 million in net inflows during the quarter, pushing the year-to-date total to $214 million, just $1 million shy of surpassing ETH-focused funds.

这种力量与日益增长的机构利益相匹配。基于XRP的投资产品在本季度的净流入量为3,770万美元，将年初至2.14亿美元提高到超过ETH ETH的资金仅1.1亿美元。

XRP spot market activity remained robust throughout the quarter. Average daily volumes hovered around $3.2 billion, with Binance maintaining a dominant share at 40%, followed by Upbit and Coinbase. Price volatility spiked in February, pushing realized volatility to around 130%, as XRP touched levels not seen since early 2018.

XRP现货市场活动在整个季度保持稳健。每日平均量徘徊在32亿美元左右，二手股的主要份额为40％，其次是Upbit和Coinbase。价格波动率在2月飙升，将实现的波动率提高到130％左右，因为XRP触及了自2018年初以来从未见过的水平。

On-chain activity on the XRP Ledger moderated after a period of expansion in late 2024. Wallet creation and transaction volume dropped by 30–40%, in line with broader slowdowns across Layer 1 networks.

XRP分类帐上的链活动在2024年底进行了一段时间后进行了调节。钱包的创建和交易体积下降了30–40％，这与整个第1层网络的较大放缓相符。

However, XRP DeFi activity showed resilience, with DEX volume slipping just 16% quarter-over-quarter. RLUSD was a key driver of activity, with its market cap surging past $90 million and cumulative DEX trading volume crossing $300 million.

但是，XRP Defi活性表现出弹性，DEX体积仅在四分之一季度下滑16％。 RLUSD是活动的主要驱动力，其市值飙升了9000万美元，累积DEX交易量超过3亿美元。