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 引发了对加密货币市场的现实检验，24 小时内暴跌超过 5.2%，并侵蚀了收益。其他主要参与者如狗狗币 (DOGE)、Solana (SOL)、以太坊 (ETH) 和币安币 (BNB) 也纷纷效仿，跌幅高达 2%。整个加密货币市场也下跌了 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.

在投资者信心恢复的推动下，美元走强正在全面影响风险资产。全球市场也陷入困境，亚洲股市下跌，美国股指期货进一步下跌。

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.

加密货币遭受损失，而市场也陷入困境。周五对美国股市来说是艰难的一天，因为投资者在不确定性的情况下减少了风险敞口。此前连续五天上涨的亚太指数出现逆转，回吐涨幅。此外，美国指数期货合约周一依然疲软。

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

道琼斯指数期货下跌 81 点（0.19%），标准普尔 500 指数期货下跌 0.16%。纳斯达克 100 指数期货波动最小。

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.

衡量美元兑主要全球货币强势的美元指数（DXY）一直在上涨。从历史上看，比特币和其他加密货币与美元的强势呈反比关系。

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.

当美元走强时，加密货币往往会走弱，因为投资者发现美国国债和股票等传统资产更具吸引力。相比之下，加密货币成为风险更高的投资。

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.

美元走强受到当选总统唐纳德·特朗普即将在一月份就职的影响。尽管对他有不同的看法，特朗普还是表达了对加密货币的支持。然而，他的经济政策预计将进一步强化美元，可能为加密货币创造不利的环境。

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 月最后几天和 1 月第一天市场上涨的历史时期“圣诞老人集会”已被扰乱。相反，市场见证了“圣诞老人崩溃”。

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

这只是历史上第三次美股在假期交易期间录得连续下跌。

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 已成为特朗普推动的涨势的主要受益者，自 11 月 5 日获胜以来，XRP 上涨了 370% 以上。去年夏天，Ripple 对 SEC 的成功诉讼提高了该代币的可信度。

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.

联邦法官裁定 XRP 在通过零售交易所出售时不是证券，而在出售给机构时是未注册的证券，这对 Ripple 和 XRP 持有者来说是一个积极的发展。然而，人们对该代币的长期潜力仍持怀疑态度。

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.

虽然 XRP 为跨境支付提供了优势，但其实际商业应用仍在开发中。尽管 Bitwise、WisdomTree 和 21Shares 等公司努力创建 XRP ETF，但批评者质疑该代币的可持续性。

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

尽管取得了监管方面的胜利，XRP 仍在继续在加密生态系统中寻找自己的利基市场。