XRP has sparked a reality check for the crypto market, plummeting over 5.2% in 24 hours and eroding gains. Other major players like Dogecoin (DOGE), Solana (SOL), Ethereum (ETH), and Binance Coin (BNB) have followed suit, losing up to 2%. The overall crypto market has also dropped by 3%.

XRP 引發了加密貨幣市場的現實檢驗，24 小時內暴跌超過 5.2%，並侵蝕了收益。其他主要參與者如狗狗幣 (DOGE)、Solana (SOL)、以太坊 (ETH) 和幣安幣 (BNB) 也紛紛效仿，跌幅高達 2%。整個加密貨幣市場也下跌了 3%。

A stronger U.S. dollar, fueled by renewed investor confidence, is affecting risk assets across the board. Global markets are also struggling, with Asian equities falling and U.S. stock futures indicating further decline.

在投資者信心恢復的推動下，美元走強正在全面影響風險資產。全球市場也陷入困境，亞洲股市下跌，美國股指期貨進一步下跌。

Cryptocurrencies have suffered losses, while markets have been reeling. Friday marked a difficult day for U.S. equities, as investors reduced risk exposure amidst uncertainty. The Asia-Pacific index, which had been experiencing a five-day winning streak, reversed and lost its gains. Additionally, futures contracts on U.S. indices remained weak on Monday.

加密貨幣遭受損失，而市場也陷入困境。週五對美國股市來說是艱難的一天，因為投資者在不確定性的情況下減少了風險敞口。先前連續五天上漲的亞太指數出現逆轉，回吐漲幅。此外，美國指數期貨合約週一依然疲軟。

Dow Jones futures declined by 81 points (0.19%), while S&P 500 futures dropped by 0.16%. Nasdaq-100 futures saw minimal movement.

道瓊指數期貨下跌 81 點（0.19%），標普 500 指數期貨下跌 0.16%。納斯達克 100 指數期貨波動最小。

The U.S. Dollar Index (DXY), which gauges the dollar's strength against major global currencies, has been rising. Historically, Bitcoin and other cryptocurrencies have an inverse relationship with the dollar's strength.

衡量美元兌主要全球貨幣強勢的美元指數（DXY）一直在上漲。從歷史上看，比特幣和其他加密貨幣與美元的強勢呈反比關係。

When the dollar strengthens, cryptocurrencies tend to weaken as investors find traditional assets like U.S. Treasuries and stocks more attractive. Cryptocurrencies, in comparison, become riskier investments.

當美元走強時，加密貨幣往往會走弱，因為投資者發現美國國債和股票等傳統資產更具吸引力。相比之下，加密貨幣成為風險更高的投資。

The surge in dollar strength is influenced by President-elect Donald Trump's impending inauguration in January. Despite differing opinions about him, Trump has expressed support for cryptocurrencies. However, his economic policies are anticipated to further strengthen the dollar, potentially creating an unfavorable environment for cryptocurrencies.

美元走強受到當選總統川普即將在一月就職的影響。儘管對他有不同的看法，川普還是表達了對加密貨幣的支持。然而，他的經濟政策預計將進一步強化美元，可能為加密貨幣創造不利的環境。

The "Santa Claus Rally," a historical period of market gains during the last days of December and first days of January, has been disrupted. Instead, the market has witnessed a "Santa Claus Meltdown."

12 月最後幾天和 1 月第一天市場上漲的歷史時期「聖誕老人集會」已被擾亂。相反，市場見證了“聖誕老人崩潰”。

This marks only the third occasion in history where U.S. stocks have recorded consecutive losses during the holiday trading period.

這只是史上第三次美股在假期交易期間錄得連續下跌。

XRP has emerged as the primary beneficiary of the Trump-inspired rally, rising over 370% since his victory on November 5. Ripple's successful lawsuit against the SEC in the summer of last year boosted the token's credibility.

XRP 已成為川普推動的漲勢的主要受益者，自 11 月 5 日獲勝以來，XRP 上漲了 370% 以上。

The federal judge's ruling that XRP is not a security when sold through retail exchanges, but rather an unregistered security when sold to institutions, was a positive development for Ripple and XRP holders. However, skepticism remains about the token's long-term potential.

聯邦法官裁定 XRP 在透過零售交易所出售時不是證券，而在出售給機構時是未註冊的證券，這對 Ripple 和 XRP 持有者來說是一個積極的發展。然而，人們對該代幣的長期潛力仍持懷疑態度。

While XRP offers advantages for cross-border payments, its real-world business applications are still under development. Despite efforts by firms like Bitwise, WisdomTree, and 21Shares to create XRP ETFs, critics question the token's sustainability.

雖然 XRP 為跨境支付提供了優勢，但其實際商業應用仍在開發中。儘管 Bitwise、WisdomTree 和 21Shares 等公司努力創建 XRP ETF，但批評者質疑該代幣的可持續性。

Despite regulatory victories, XRP continues to search for its niche in the crypto ecosystem.

儘管取得了監管方面的勝利，XRP 仍在繼續在加密生態系統中尋找自己的利基市場。