XRP打破了新的基础：CME期货对加密货币的弱者真正意味着什么，而交易者现在必须知道什么

芝加哥商业交易所是一家联想起繁华坑和十亿美元赌注的金融机构，正在向全球最陷入困境的加密货币打开大门：XRP。

Monday morning will look different for crypto traders scanning their terminals. The Chicago Mercantile Exchange—a financial institution that conjures images of bustling pits and billion-dollar bets—is opening its doors to the world’s most embattled cryptocurrency: XRP.

星期一早上，对于加密交易者扫描航站楼的情况会有所不同。芝加哥商业交易所是一家联想起繁华坑和十亿美元赌注的金融机构，正在向全球最陷入困境的加密货币打开大门：XRP。

CME’s move signals that XRP has earned a spot in the pantheon of regulated, heavily traded digital assets. For traders used to Bitcoin futures or ether futures, the addition of XRP futures to CME’s lineup signals a natural progression—a testament to the burgeoning maturity of the crypto ecosystem. But for those less familiar with the landscape, this moment is nothing short of groundbreaking.

CME的举动表明，XRP在受监管的，大量交易的数字资产的万神殿中赢得了一席之地。对于用比特币期货或以太期货的交易者来说，将XRP期货添加到CME的阵容中，这表明了自然的进步，这证明了加密生态系统的成熟度。但是对于那些不熟悉景观的人来说，这一刻无非是开创性的。

Here’s a breakdown of what the CME futures launch means for traders, investors, and the future of XRP itself:

这是CME期货发布对贸易商，投资者以及XRP本身未来意味着什么的细分：

What Is CME Launching, and How Can Traders Get Involved?

CME的启动是什么，交易者如何参与？

CME is offering two types of futures contracts: standard and micro. Both settle in cash and are priced relative to the CME CF XRP-Dollar Reference Rate.

CME提供两种类型的期货合约：标准和微型。两者都以现金定居，并且价格相对于CME CF XRP犯罪参考率。

* Standard contracts have a size of 50,000 XRP.

*标准合同的大小为50,000 XRP。

* Micro contracts are smaller, with a size of 2,500 XRP.

*微合同较小，大小为2,500 XRP。

The futures will be listed on CME Globex and cleared through CME ClearPort. They are designed to appeal to institutional traders who prefer a regulated and transparent market.

期货将在CME Globex上列出，并通过CME Clearport清除。它们旨在吸引喜欢受监管和透明市场的机构交易者。

To open a futures account, traders will need to apply through a registered futures broker. CME itself does not accept applications for direct access to its exchange. Retail traders can get involved through an intermediary, such as a brokerage firm or a futures commission merchant (FCM).

要开设期货帐户，交易者将需要通过注册期货经纪人申请。 CME本身不接受直接访问其交换的应用程序。零售交易者可以通过中介机构（例如经纪公司或期货委员会商人（FCM））参与其中。

The minimum margin requirements for the futures will be set in accordance with CME’s usual procedures and may vary depending on market conditions and other relevant factors.

期货的最低保证金要求将根据CME的常规程序设定，并且可能会根据市场条件和其他相关因素而有所不同。

The futures will be cash-settled in U.S. dollars on the third Wednesday of the futures contract month. The final settlement price will be based on the CME CF XRP-Dollar Reference Rate at 4:00 p.m. ET on the futures contract's maturity date.

期货将在期货合同月的第三个星期三以美元现金计算。最终结算价格将基于美国东部时间4:00 PM的CME CF XRP-TORRAR参考率，即期货合约的到期日。

What Does This Mean for the Price of XRP?

这对XRP的价格意味着什么？

The launch of CME futures could lead to increased liquidity and price stability for XRP. As more institutional traders enter the market, they will bring with them larger trading volumes and deeper liquidity pools. This could help to reduce volatility and create a more balanced playing field.

CME期货的推出可能会导致XRP的流动性和价格稳定性提高。随着越来越多的机构交易者进入市场，他们将带来更大的交易量和更深的流动性池。这可能有助于降低波动率并创建一个更加平衡的竞争环境。

However, it's important to note that the price of XRP is currently heavily influenced by the pending legal decision in the SEC lawsuit. Until there is greater clarity on the regulatory front, it's likely that any major price moves will be tied to legal developments rather than futures trading activity.

但是，重要的是要注意，XRP的价格目前受到SEC诉讼未决法律裁决的严重影响。在监管方面更加清晰之前，任何主要的价格转移都可能与法律发展相关，而不是期货交易活动。

What Are the Implications for ETFs?

对ETF有什么影响？

The approval odds for an XRP ETF are still being covered by crypto prediction sites, and the timeline remains fluid.

XRP ETF的批准赔率仍由加密预测站点覆盖，并且时间轴保持流体。

Industry insiders believe that if the SEC were to relent and finally admit that XRP is not a security, then the ceiling would vanish. The approval odds for an XRP ETF are still being covered by crypto prediction sites, and the timeline remains fluid.

行业内部人士认为，如果SEC不愿意并最终承认XRP不是安全性，那么上限就会消失。 XRP ETF的批准赔率仍由加密预测站点覆盖，并且时间轴保持流体。

If an ETF were to be approved, we can expect to see a huge influx of capital flowing into the XRP market. According to Bloomberg analysts, daily trading volumes could spike by 3–5x in the first year alone.

如果要批准ETF，我们可以期望看到大量资本流入XRP市场。根据彭博分析师的说法，仅第一年的日常交易量就会达到3-5倍。

What Is Ripple Doing Now?

Ripple现在在做什么？

This year, Ripple has already launched two major global pilots for its blockchain technology. The first was for a stablecoin project in Bhutan, and the second is in the Colombian countryside with microfinance and supply-chain projects on the XRP Ledger.

今年，Ripple已经为其区块链技术推出了两名主要的全球飞行员。第一个是在不丹的一个Stablecoin项目，第二个是在哥伦比亚乡村，在XRP Ledger上有小额信贷和供应链项目。

For this initiative, Ripple has partnered with Mercy Corps and digital traceability platform WËIA to create a program that will provide smallholder farmers with transparent funding and traceable produce. The focus is on showcasing the real-world utility of Ripple’s technology rather than engaging in hype or speculation.

为此，Ripple与Mercy Corps和Digital Traceability PlatformWëia合作，创建了一个计划，该计划将为小农提供透明的资金和可追溯的产品。重点是展示波纹技术的现实实用性，而不是从事炒作或投机。

This initiative is part of a broader effort by Ripple to expand the use of its blockchain and expand into new markets. The company is also developing solutions for central bank digital currencies (CBDCs), which could be used to facilitate cross-border payments and remittances.

这项倡议是Ripple更广泛努力扩大其区块链的使用并扩展到新市场的一部分。该公司还正在开发中央银行数字货币（CBDC）的解决方案，可用于促进跨境支付和汇款。

As other cryptocurrencies, like Bitcoin and Solana, enjoy their financial spotlight for liquidity and trading activity, XRP is consolidating price action in a holding pattern near $2.35. It remains to be seen whether the gravitational pull of legal uncertainty will ultimately prevail over the pent-up bullish energy that is building in anticipation of a favorable court ruling or out-of-court settlement.

正如其他加密货币（如比特币和索拉纳（Solana））一样，享受其流动性和交易活动的财务关注点，XRP正在以接近2.35美元的价格巩固价格行动。在预期有利的法院裁决或庭外和解方面，法律不确定性的引力最终是否会占上风，这还有待观察。

But as this moment arrives, signaling that global finance is learning to coexist with crypto’s pioneers, it’s worth remembering that for every headline-grabbing lawsuit or court decision, there are engineers and entrepreneurs quietly shipping real-world solutions.

但是随着这一刻的到来，表明全球财务正在学习与加密货币的开拓者共存，值得记住的是，对于每一个引人注目的诉讼或法院裁决，都有工程师和企业家悄悄运送现实世界的解决方案。

The pilots that organizations like Mercy Corps are launching with Ripple’s technology in the Colombian countryside matter as much to the future of finance as does a ruling from Washington or New York. Perhaps even more so.

像Mercy Corps这样的组织在哥伦比亚乡村发起的技术启动的飞行员与华盛顿或纽约的裁决一样，对金融的未来和未来一样重要。也许更多。

This time period will be pivotal in determining whether crypto can deliver on its promise or if another court drama will

这个时期将在确定加密货币是否可以兑现其诺言或其他法院戏剧将是关键的