關於XRP的託管及其對市場的影響的長期辯論最近引起了Steam

這一崛起挑戰了託管垃圾場理論，該理論聲稱波紋的每月託管釋放會導致市場的波動。

The long-running debate about XRP’s escrow and its influence on the market has picked up steam lately because of crypto lawyer Bill Morgan’s comments on social media.

關於XRP的託管及其對市場的影響的長期辯論最近由於加密律師比爾·摩根（Bill Morgan）在社交媒體上的評論而引起了Steam。

The discussion was about the role of Ripple’s escrow in the price of XRP after the digital asset’s price rose from $0.50 to over $3.00 even though releases from escrow continued in late 2024 and early 2025.

討論是關於Ripple的託管在XRP價格上的作用，即使數字資產的價格從0.50美元上漲至3.00美元以上，即使託管發行的發行在2024年底和2025年初。

This rise challenges the “escrow dump” theory, which claims that Ripple’s monthly escrow releases cause the market’s volatility.

這種崛起挑戰了“託管垃圾場”理論，該理論聲稱波紋的每月託管釋放引起了市場的波動。

Bill Morgan took on the misconception in a post, pointing out that the monthly XRP released from escrow is a small percentage of the overall daily trading volume. As the total XRP supply increases, the relative rate of XRP held in escrow keeps going down.

比爾·摩根（Bill Morgan）在一篇文章中犯了誤解，指出從託管中發布的每月XRP是每日交易量的一小部分。隨著XRP總供應的增加，託管中XRP的相對速率保持下降。

According to Morgan, even if the volume of XRP released from escrow stayed the same while the total supply grew, the market’s response would not match claims of an “escrow dump.”

據摩根說，即使託管釋放的XRP量在總供應量增長的同時保持不變，市場的反應也無法符合“託管垃圾場”的主張。

He stressed that the escrow releases, which make up a decreasing percentage of XRP’s total supply, do not have the harmful effect that critics suggest.

他強調，託管釋放構成了XRP總供應量減少的降低，因此沒有批評家所暗示的有害影響。

The larger point made by Morgan was that the narrative surrounding the “escrow dump” theory was not only flawed but also not supported by the market’s actual behavior.

摩根提出的更大的觀點是，圍繞“託管垃圾場”理論的敘述不僅存在缺陷，而且不受市場的實際行為的支持。

He highlighted how, even as Ripple continues to release XRP from escrow, the asset’s price rose, showing that the issue lay elsewhere if price declines were to happen in the future.

他強調了即使波紋繼續從託管釋放XRP，資產的價格上漲了，這表明，如果將來的價格下降，問題就在其他地方。

This debate comes as Ripple’s legal fight continues. The firm has faced scrutiny from the U.S. Securities and Exchange Commission (SEC), which has argued that Ripple’s escrow program is a major factor in influencing XRP’s price.

隨著Ripple的法律鬥爭仍在繼續。該公司已面臨美國證券交易委員會（SEC）的審查，該委員會認為，Ripple的託管計劃是影響XRP價格的主要因素。

However, in November 2024, Morgan explained that Ripple’s share of XRP holdings had decreased from 55% in 2020 to below 39%. This change demonstrates Ripple’s decreasing control over the asset, further challenging the notion that the company’s escrow releases are a major factor in XRP’s price movements.

但是，在2024年11月，摩根解釋說，Ripple在XRP Holdings的份額從2020年的55％下降到低於39％。這一變化表明了波紋對資產的控制權減少，進一步挑戰了公司的託管發行是XRP價格變動的主要因素。

The conversation around XRP also includes a comparison to Bitcoin regarding market price movements.

XRP圍繞的對話還包括與比特幣有關市場價格變動的比較。

While Bitcoin has seen growth with institutional involvement and more adoption, XRP’s price trend has not mirrored the same success.

儘管比特幣隨著機構的參與和更多的採用而增長，但XRP的價格趨勢並沒有反映出同樣的成功。

As DefiBanked.sol, a notable crypto commentator, highlighted, XRP’s price has been relatively stagnant, with fluctuations only occurring when external factors, such as political statements, reignite interest in the asset.

正如Defibanked.sol所強調的一位著名的加密評論員，XRP的價格相對停滯，只有在外部因素（例如政治聲明）重新點燃資產的利益時，就會發生波動。

The crypto community remains divided, with some defending XRP’s claimed use cases, while others criticize its lack of real utility outside of speculative predictions and corporate partnerships.

加密社區仍然分裂，有些人捍衛XRP聲稱的用例，而另一些人則批評其在投機性預測和公司合作夥伴關係之外缺乏真正的效用。