On December 30, 2024, XRP led a downturn in the cryptocurrency market, dropping over 5% as a stronger U.S. dollar impacted global currencies and assets such as Bitcoin. The market showed a 3% decline in overall capitalization, with major cryptocurrencies including Dogecoin, Solana, Ether, and BNB also experiencing reductions. Historical trends indicate that Bitcoin's price typically inversely correlates with the U.S. Dollar Index (DXY), which affects demand for dollar-denominated investments. This decline comes amid uncertainty around U.S. economic policies and interest rates, which have dampened hopes for a sustained crypto rally. Despite the current challenges, some analysts remain hopeful, suggesting long-term crypto policies could positively influence future market conditions, especially as President-elect Donald Trump prepares to take office, potentially easing regulations and inviting corporate interest into the Bitcoin ecosystem.

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