自11月总统大选以来，XRP（加密：XRP）上涨了300％以上。

自11月总统大选以来，XRP（加密：XRP）上涨了300％以上。但是，XRP最近对关税不确定性受到了打击，现在比其52周高3.39美元下降了40％

In November 2024, the presidential election in the U.S. sent shockwaves through the cryptocurrency market. After nearly four years of regulatory uncertainty, the new administration finally brought an end to the SEC lawsuit against Ripple (CRYPTO:XRP).

2024年11月，美国的总统大选通过加密货币市场派出了冲击波。经过将近四年的监管不确定性，新政府终于结束了针对Ripple的SEC诉讼（Crypto：XRP）。

Since then, XRP (CRYPTO:XRP) has skyrocketed more than 300%. However, XRP has recently taken a hit over tariff uncertainty and is now down 40% from its 52-week high of $3.39 in January 2025.

从那时起，XRP（加密：XRP）飙升了300％以上。但是，XRP最近对关税不确定性受到了打击，现在比2025年1月的52周高点下降了40％。

So the search is now on for a brand-new catalyst to send XRP higher this year. The good news is that there's a huge new market opportunity valued at more than $200 billion that may have just opened up for XRP.

因此，现在正在搜索全新的催化剂，以使XRP今年更高。好消息是，有一个巨大的新市场机会价值超过2000亿美元，可能刚刚为XRP开放。

Obvious XRP catalysts

明显的XRP催化剂

First, let's consider the obvious catalysts for XRP. The market already knows about these catalysts and has likely fully priced them in by now.

首先，让我们考虑XRP的明显催化剂。市场已经知道这些催化剂，并且现在可能已经完全定价了。

The first obvious catalyst is the lifting of regulatory uncertainty around Ripple, the company behind the XRP token. This has been the primary reason why XRP is up 300% since the election. Investors eagerly anticipated the arrival of the pro-crypto policies of the Trump administration, and they have been rewarded for their faith. A long-running Securities and Exchange Commission (SEC) lawsuit against Ripple has been dropped, and it now looks like Ripple can get on with business as usual.

第一个明显的催化剂是XRP令牌背后的公司围绕Ripple的监管不确定性提升。这是自选举以来XRP增长300％的主要原因。投资者急切地期待特朗普政府的亲克莱普托政策的到来，他们因信仰而获得了回报。针对Ripple的长期证券交易委员会（SEC）诉讼已被撤销，现在看起来Ripple可以照常开展业务。

The second obvious catalyst is a potential spot exchange-traded fund (ETF) launch for XRP sometime in 2025. Several different investment firms have already filed with the SEC for a spot XRP ETF. Currently, analysts estimate the chances of XRP getting a spot ETF in 2025 at upwards of 80%. So, you're not going to surprise the market with this -- it knows the ETFs are coming, and the price of XRP already reflects this information.

第二个明显的催化剂是2025年某个时候为XRP推出的潜在现货交换基金（ETF）。几家不同的投资公司已经向SEC提交了SPOT XRP ETF。目前，分析师估计XRP在2025年以80％以上获得现场ETF的机会。因此，您不会对此感到惊讶 - 它知道ETF即将到来，XRP的价格已经反映了此信息。

A surprising XRP catalyst

令人惊讶的XRP催化剂

That brings us to the surprising XRP catalyst: the growth of stablecoins in 2025. At this point, you might be scratching your head: What in the world do stablecoins have to do with XRP?Image source: Getty Images.

这使我们进入了令人惊讶的XRP催化剂：2025年稳定菌的生长。此时，您可能正在挠头：stablecoins与XRP有什么关系？图像来源：Getty Images：Getty Images。

As it turns out, a lot. In December 2024, Ripple launched a stablecoin called Ripple USD (CRYPTO: RLUSD). Just like many other stablecoins, it's pegged 1:1 to the U.S. dollar and is primarily a way for institutional investors to get involved with decentralized finance (DeFi). You can think of stablecoins as a way for institutional investors to convert their physical U.S. dollars into digital U.S. dollars so they can be used on the blockchain to generate yield.

事实证明，很多。 2024年12月，Ripple推出了一个名为Ripple USD（加密：RLUSD）的Stablecoin。就像许多其他Stablecoins一样，它也将1：1固定在美元上，主要是机构投资者参与去中心化财务（DEFI）的一种方式。您可以将Stablecoins视为机构投资者将其实际美元转换为数字美元的一种方式，以便可以在区块链上使用它们来产生收益。

The growth of the Ripple stablecoin has been off the charts since its launch in December 2024. It now ranks among the top 250 cryptocurrencies in the world, with a market cap of $200 million. And Ripple CEO Brad Garlinghouse thinks that this Ripple stablecoin could become one of the top five stablecoins in the world by the end of 2025.

自2024年12月推出以来，Ripple Stablecoin的增长已经脱离图表。现在，它在世界上排名前250名加密货币之列，市值为2亿美元。 Ripple首席执行官布拉德·加林豪斯（Brad Garlinghouse）认为，到2025年底，这种波纹stablecoin可能会成为世界上五个稳定的稳定者之一。

The fifth-largest stablecoin in the world right now has a market cap of $2.5 billion. If the Ripple stablecoin reaches that sort of valuation in 2025, it implies more than 10 times growth over the next 9 months.

目前，全球第五大稳态的市值为25亿美元。如果波纹稳定剂在2025年达到这种估值，则意味着在接下来的9个月中增长了10倍以上。

But let's think really big here. The total stablecoin market is now worth more than $200 billion. So what happens if the new Ripple stablecoin claims a 10% market share of this burgeoning market? That would imply a valuation of $20 billion. That's 100 times growth based on today's current market cap of $200 million.

但是，让我们在这里真的很大。 Stablecoin市场的总价值超过2000亿美元。那么，如果新的Ripple Stablecoin声称在这个新兴市场中拥有10％的市场份额，会发生什么呢？这意味着估值为200亿美元。根据当今的2亿美元市值，这是100倍的增长。

Will a Ripple stablecoin really help XRP?

涟漪stabablecoin真的有助于XRP吗？

Of course, there are some potential problems. For one, everyone seems to be talking about stablecoins these days to the point where World Liberty Financial, the crypto company affiliated with the Trump family, is now planning a stablecoin of its own. Going forward, any stablecoin perceived to be backed by President Trump might provide some formidable competition for Ripple.

当然，有一些潜在的问题。一方面，如今，每个人似乎都在谈论稳定币，直到与特朗普家族相关的加密货币公司World Liberty Financial现在正在计划自己的稳定币。展望未来，任何被特朗普总统支持的稳定者都可能为波纹提供激烈的竞争。

And don't forget about PayPal (NASDAQ:PYPL), which launched a new stablecoin of its own in August 2023. PayPal USD was the first stablecoin launched by a major U.S. financial services company and is currently valued at $800 million. It's now the sixth-largest stablecoin in the world, so Ripple will need to pass PayPal to break into the top five.

而且，别忘了贝宝（NASDAQ：PYPL），该公司于2023年8月推出了自己的新稳定币。PayPalUSD是一家美国主要金融服务公司发起的第一家稳定股，目前价值8亿美元。现在，它是世界上第六大稳定币，因此Ripple将需要通过Paypal才能闯入前五名。

Moreover, it's not clear just how much of an impact the new Ripple stablecoin will have on XRP. The hope is that institutional investors will soon be swapping their digital dollars for XRP, and that should help boost the price of XRP over the long haul.

此外，尚不清楚新的Ripple Stablecoin对XRP的影响有多大。希望是机构投资者很快将把他们的数字资金换成XRP，这应该有助于提高XRP的价格。

But some analysts are not so convinced. As they

但是一些分析师并不是那么相信。像他们一样