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XRP Ripple持续扩张，但XRP为何未达预期估值？
Ripple正不断在金融领域扩大其影响力，然而XRP的市值并未达到部分投资者所预期的增长水平。加密货币分析师Steph Is Crypto对此提出了质疑，探讨了为何在Ripple持续与银行建立合作关系的同时，XRP的价格仍未达到数百美元的水平。他的问题核心在于Ripple的机构扩张与XRP市场价值之间的关系。
针对该帖子的多条评论挑战了“仅凭新的银行合作就能推动XRP大幅涨价”的观点，指出这一逻辑存在误区。
XRP的实际使用量可能比合作伙伴关系更重要
DM Benders指出，XRP需要实际的使用场景来产生需求，从而支撑更高的估值。他表示，目前银行尚未创造出足够多的直接XRP使用量，以证明市场对资产的高期望是合理的。
他在评论中写道：“它还没有被广泛使用。这很简单，XRP不会按照你希望的时间点因新闻而波动，而是会根据其实际用途和使用率来波动。”
This perspective distinguishes Ripple's business development from XRP's market needs. Ripple can increase the number of financial institutions in its network without forcing them to hold large amounts of XRP. This distinction is crucial because banks can use Ripple's technology without having to hold XRP for a long time. Therefore, when investors pay attention to Ripple's growing institutional relationships, they should also examine the actual use of XRP.
Commentators highlight the utility and supply factors of XRP
Andrew Sandler suggests several factors that may explain the current valuation of XRP. He questioned how many banks were actually using XRP technology rather than just using Ripple's broader services. He also cited regulatory clarity and Ripple's monthly escrow account activity, noting that the company's regular escrow releases could limit XRP price growth.
Banks may not hold XRP for a long time
Rara also challenges the assumption that "more bank cooperation automatically brings huge XRP demand." He pointed out that banks can use XRP as a bridging asset without having to keep large amounts of tokens on their balance sheets.
Rara said: "Just because banks use RippleNet's ODL (On-Demand Liquidity) service does not mean they will hoard XRP."
This comment points out the role of XRP in the trading process. If an institution acquires XRP in order to facilitate transfers and then quickly converts it into other currencies, this behavior, while creating transaction volume, may not generate the kind of long-term holding demand that some XRP investors expect.
Taken together, Steph Is Crypto's question touches on an important difference: Ripple can continue to expand its banking partnerships, while XRP follows its own demand dynamics. The asset's path towards a higher valuation will depend on the breadth of the institution's use of XRP and how this use affects continued market demand.
