SEC的Spot XRP ETF决定可能会点燃针对3.50美元的重大集会

SEC对位置XRP ETF的决定可能会激发重大集会。目前的22亿美元XRP期货暗示了机构投资者的需求不断增长。

The price of XRP has stalled despite two major milestones in 2024.

尽管2024年有两个主要里程碑，但XRP的价格仍停滞不前。

The two most bullish events ever imagined by XRP (XRP) advocates happened in 2025, but the token continues to underperform the cryptocurrency market. On March 6, XRP was listed as a candidate for the United States’ “Digital Asset Reserve,” and Ripple Labs settled a multi-year-long complaint with the US Securities and Exchange Commission on May 8.

XRP（XRP）倡导者想象的有史以来最看涨的事件发生在2025年，但令牌继续表现不足。 3月6日，XRP被列为美国“数字资产储备”的候选人，Ripple Labs于5月8日在美国证券和交易委员会中解决了多年的投诉。

However, XRP fell 6% in the three months leading up to May 22, while overall crypto market capitalization rose 10%. Traders remain hopeful for a 45% rally to $3.50, with derivatives metrics signaling rising confidence.

但是，XRP在5月22日之前的三个月中下跌了6％，而总体加密市值增长了10％。贸易商仍然希望45％的集会至3.50美元，衍生品指标信号提高了信心。

Key takeaways:

关键要点：

The SEC’s decision on a spot XRP ETF could ignite a significant rally.

SEC对位置XRP ETF的决定可能会激发重大集会。

The current $2.2 billion in XRP futures hints at growing institutional investor demand.

目前的22亿美元XRP期货暗示了机构投资者的需求不断增长。

Aggregate open interest on major exchanges reached 923 million XRP on May 22, showcasing a 31% surge from two weeks prior.

5月22日，主要交易所的总开放利息达到9.23亿XRP，比两周前的31％激增。

The $2.2 billion position in futures markets signals traders’ interest, but it is not necessarily bullish, as those instruments can be used to speculate on the XRP price downside.

期货市场上的22亿美元头寸表示交易者的利息，但不一定是看好的，因为这些工具可用于推测XRP价格下跌。

Some traders argue that the increased demand for leveraged XRP positions indicates growing institutional interest, especially as multiple issuers filed for a spot XRP exchange-traded fund (ETF) listing in the US. However, the final decision by the US SEC should be made in October.

一些交易者认为，对杠杆XRP头寸的需求增加表明机构利益的增长，尤其是当多个发行人在美国申请了XRP交易所交易基金（ETF）上市时。但是，美国SEC的最终决定应在10月做出。

Excessive demand for bullish leveraged XRP causes a positive funding rate, meaning longs (buyers) are the ones paying the carry cost.

对看涨杠杆XRP的过度需求会导致筹款率，这意味着渴望（买家）是支付携带成本的筹款率。

As cryptocurrency traders are generally optimistic, a 7% to 14% annualized funding rate is expected in neutral markets, while periods of FOMO can push the indicator above 50%.

由于加密货币交易者通常是乐观的，因此中立市场预计将有7％至14％的年度资金率，而FOMO期间可以将指标推向50％以上。

The annualized funding rate reached 19% on May 22, nearing the highest levels in six months.

5月22日，年度资金率达到19％，在六个月内接近最高水平。

Still, the current optimism level is nowhere near the 100% annualized funding rate from Dec. 4, 2024, which followed an impressive 7-day rally to $2.90 from $1.33. Far from being bearish, the current level leaves room for bullish positioning on XRP futures markets.

尽管如此，目前的乐观水平远远没有达到2024年12月4日的100％年度资金率，此后为期7天的集会从1.33美元开始，这是令人印象深刻的7天集会至2.90美元。目前的水平远非看跌，留出了在XRP期货市场上的看涨空间。

Which senators invest in crypto? 11 lawmakers have blockchain-related investments

哪个参议员投资加密？ 11名议员有与区块链相关的投资

Favorable regulation opens the door for new partnerships and acquisitions

有利的法规为新的伙伴关系和收购打开了大门

Part of the limited XRP price upside can be explained by the multiple rejections of US Senator Cynthia Lummis, Chair of the US Congress Digital Assets Subcommittee, to meet Ripple representatives.

有限的XRP价格上涨空间的一部分可以通过美国国会数字资产小组委员会主席辛西娅·卢米斯（Cynthia Lummis）的多次拒绝来解释，以与Ripple代表会面。

Despite settling with the SEC in May, Ripple Labs is still being sued by the SEC in another case, which Lummis is following closely.

尽管在5月与SEC定居，但Rumple Labs仍被SEC起诉另一种情况，Lummis正在密切关注。

However, House Agriculture Committee Chair Scott Franklin invited Brad Garlinghouse to speak at an upcoming event. Chairs in both the House and Senate are planning to cooperate on legislation to regulate the cryptocurrency industry in 2024.

但是，众议院农业委员会主席斯科特·富兰克林（Scott Franklin）邀请布拉德·加林豪斯（Brad Garlinghouse）在即将举行的活动中发言。众议院和参议院的椅子都计划在2024年进行立法合作，以规范加密货币行业。

Garlinghouse urged Lummis to “reconsider and be a leader for ALL of crypto,” and discuss “how to make the US the crypto capital of the world.”

Garlinghouse敦促Lummis“重新考虑并成为所有加密货币的领导者”，并讨论“如何使美国成为世界的加密首都”。

There is nothing stopping XRP from hitting $3.50 or even higher, as Ripple Labs is no longer facing direct threats from regulators, which paves the way for partnerships and acquisitions.

没有什么可以阻止XRP达到3.50美元甚至更高的价格，因为Ripple Labs不再面临监管机构的直接威胁，这为合伙企业和收购铺平了道路。

Historically, XRP has reacted very positively following those announcements, and the $2.2 billion futures open interest could help catapult XRP price above the current $3.25 all-time high.

从历史上看，XRP在这些公告之后做出了非常积极的反应，22亿美元的期货开放兴趣可以帮助弹射XRP价格高于当前3.25美元的历史最高高价。