XRP 在市場低迷和鯨魚傾銷中暴跌

XRP 跌破 0.60 美元的原因有很多：更廣泛的市場下跌、美國的宏觀狀況以及鯨魚的大幅拋售。該加密資產一直承受著持續的看跌壓力，與2024 年第一季大盤飆升相比，表現不佳60%。宏觀經濟狀況，包括美國製造業PMI 數據的修正和持續的通膨擔憂，引發了加密市場回調，影響了XRP 的價值。此外，持有大量 XRP 的投資者發起的分配活動也加劇了該代幣的下行壓力。

XRP Plummets Amidst Confluence of Market Forces and Whale Activity

XRP 在市場力量和鯨魚活動的融合下暴跌

The recent depreciation of XRP below the pivotal $0.60 level can be attributed to a confluence of factors, including a broader market downturn, macroeconomic headwinds, and substantial selling pressure from large-scale investors known as "whales."

XRP 最近貶值至 0.60 美元以下的關鍵水平可歸因於多種因素，包括更廣泛的市場低迷、宏觀經濟逆風以及來自被稱為「鯨魚」的大規模投資者的巨大拋售壓力。

Sustained Bearish Pressure Amid Market Underperformance

市場表現不佳，持續看空壓力

XRP has faced persistent bearish pressure since the beginning of 2024. Despite the significant uptrend experienced by the broader crypto market over the past several months, XRP has failed to capitalize on this momentum. While the crypto market surged by an impressive 63% during the first quarter of 2024, XRP managed a meager 2.25% gain.

自 2024 年初以來，XRP 一直面臨持續的看跌壓力。儘管過去幾個月更廣泛的加密貨幣市場經歷了顯著的上漲趨勢，但 XRP 未能利用這一勢頭。儘管加密貨幣市場在 2024 年第一季飆升了 63%，但 XRP 的漲幅僅為 2.25%。

This lackluster performance has been compounded by a further 5.43% decline in April, pushing XRP below the $0.60 support level and offsetting the modest gains it had accumulated earlier in the year. As of press time, XRP has fallen approximately 2.9% year-to-date, indicating a clear downtrend.

4 月進一步下跌 5.43%，導致 XRP 跌破 0.60 美元的支撐位，抵消了今年稍早累積的小幅漲幅，加劇了這種低迷的表現。截至發稿，XRP 年初至今已下跌約 2.9%，顯示出明顯的下跌趨勢。

Crypto Market Bloodbath and Macroeconomic Conditions

加密貨幣市場大屠殺與宏觀經濟狀況

XRP's latest bearish movements are partially attributable to the ongoing market-wide bloodbath. The crypto market is currently undergoing a significant retracement, with major assets such as Bitcoin (BTC) and Ethereum (ETH) experiencing notable declines. Bitcoin has dropped 6.70% this month, ETH has plunged by 8%, and Solana (SOL) has witnessed a 10% decline within the same time frame. This broader market weakness has weighed heavily on XRP's value.

XRP 最新的看跌走勢部分歸因於持續的市場大屠殺。加密貨幣市場目前正在經歷大幅回調，比特幣（BTC）和以太幣（ETH）等主要資產出現顯著下跌。比特幣本月下跌 6.70%，ETH 暴跌 8%，Solana (SOL) 同期下跌 10%。這種更廣泛的市場疲軟嚴重影響了 XRP 的價值。

Moreover, the broader market collapse has been influenced by macroeconomic conditions in the United States. The recently released US Manufacturing PMI for March, which measures the health of the manufacturing sector, was revised downward to 51.9 from an initial estimate of 52.2. This adjustment has dampened trader optimism regarding a potential Federal Reserve (Fed) rate cut in June, with odds dropping from 60% to 56.9%.

此外，更廣泛的市場崩潰也受到美國宏觀經濟狀況的影響。最近公佈的衡量製造業健康狀況的美國3月製造業PMI從最初預測的52.2下調至51.9。這項調整削弱了交易者對聯準會 (Fed) 6 月可能降息的樂觀情緒，可能性從 60% 降至 56.9%。

The Fed's interest rate decisions have a significant impact on risk asset markets, including cryptocurrencies. Higher interest rates generally make safer investments like bonds more attractive than riskier assets like cryptocurrencies. Fed Chair Jerome Powell's recent comments suggest that the Fed is in no rush to cut rates, which is not a positive indicator for the crypto market.

聯準會的利率決定對包括加密貨幣在內的風險資產市場產生重大影響。較高的利率通常會使債券等更安全的投資比加密貨幣等風險較高的資產更具吸引力。聯準會主席鮑威爾最近的言論表明聯準會並不急於降息，這對加密貨幣市場來說並不是一個積極的指標。

Concerns about ongoing inflation, despite a slight easing in the Core PCE price index, continue to justify the Fed's decision to maintain higher interest rates for the foreseeable future. The recent manufacturing data, which suggests a stronger economy, has further reduced the likelihood of a rate cut, leading to negative sentiment in the crypto market. As a result, investors are shifting their capital away from cryptocurrencies and into less risky investments like bonds.

儘管核心個人消費支出物價指數略有回落，但對持續通膨的擔憂繼續證明聯準會在可預見的未來維持較高利率的決定是合理的。最近的製造業數據顯示經濟走強，進一步降低了降息的可能性，導致加密貨幣市場出現負面情緒。因此，投資者正在將資金從加密貨幣轉向債券等風險較低的投資。

Distribution Campaign by Large Investors

大投資者的分配活動

Another factor contributing to the bearish pressure on XRP is a distribution campaign initiated by large investors known as "whales" and "sharks." Data from Santiment, a blockchain analytics platform, reveals that investors holding between 10,000 and 10,000,000 XRP tokens have been steadily reducing their balances since the beginning of the year.

造成XRP看跌壓力的另一個因素是由被稱為「鯨魚」和「鯊魚」的大型投資者發起的分配活動。區塊鏈分析平台 Santiment 的數據顯示，自今年年初以來，持有 10,000 至 10,000,000 XRP 代幣的投資者一直在穩步減少其餘額。

Specifically, investors holding 10,000 to 100,000 XRP have collectively reduced their balances from 6.86 billion XRP on January 1 to 6.77 billion XRP at the time of this writing. Similarly, those holding 100,000 to 1,000,000 XRP have decreased their balances from 6.72 billion to 6.63 billion XRP over the same period.

具體而言，持有 10,000 至 100,000 XRP 的投資者已將其餘額從 1 月 1 日的 68.6 億 XRP 集體減少至截至本文撰寫時的 67.7 億 XRP。同樣，持有 100,000 至 1,000,000 XRP 的人同期其餘額從 67.2 億減少至 66.3 億。

Furthermore, whale addresses holding between 1,000,000 and 10,000,000 XRP have witnessed a decline in their cumulative balance from 3.72 billion on January 1 to 3.63 billion today. This sustained selloff campaign has contributed significantly to XRP's downward pressure, as large investors appear to be pivoting to other assets.

此外，持有 1,000,000 至 10,000,000 XRP 的鯨魚地址的累積餘額從 1 月 1 日的 37.2 億下降到今天的 36.3 億。這種持續的拋售活動極大地加劇了 XRP 的下行壓力，因為大型投資者似乎正在轉向其他資產。

Conclusion

結論

The recent collapse of XRP below the $0.60 level is primarily attributable to a combination of factors, including a broader market downturn, macroeconomic headwinds, and a distribution campaign by large investors. Despite XRP's relatively better performance compared to the broader market during the current downturn, it remains significantly undervalued year-to-date. At press time, XRP was trading at $0.5966, well below the crucial $0.60 support level.

XRP 最近跌破 0.60 美元的水平主要歸因於多種因素，包括更廣泛的市場低迷、宏觀經濟逆風以及大型投資者的分配活動。儘管在當前的低迷時期，XRP 的表現優於大盤，但今年迄今仍被嚴重低估。截至發稿時，XRP 交易價格為 0.5966 美元，遠低於 0.60 美元的關鍵支撐位。