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Home News Crypto

XRP Leads Crypto Market Decline as Strong Dollar and Year-End Pressures Mount

by Team Lumida
December 30, 2024
in Crypto
Reading Time: 2 mins read
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Key Takeaways:

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• XRP falls over 5%, leading broader crypto market decline of 3%
• Bitcoin fails to deliver traditional “Santa rally” with 4% December drop
• Market faces headwinds from strong dollar and reduced Fed rate cut expectations
• Overall crypto market remains up 47% in Q4 despite recent pullback

What Happened?

The cryptocurrency market is experiencing significant pressure with XRP leading losses at over 5% decline, while other major cryptocurrencies including Dogecoin, Solana, Ethereum, and BNB fell up to 2%. The total market capitalization decreased by 3%, with the CoinDesk 20 index dropping 3.5%. This decline coincides with Asian equity market weakness and negative signals from US equity futures.

Why It Matters?

This market movement highlights the growing correlation between cryptocurrency markets and traditional financial factors, particularly dollar strength and monetary policy expectations. The stronger dollar, driven by anticipation of Trump’s presidency and scaled-back Federal Reserve rate cut expectations, is making dollar-denominated assets more attractive compared to cryptocurrencies. This relationship demonstrates how crypto markets are increasingly influenced by broader macroeconomic factors, challenging their traditional narrative as independent alternative assets.

What’s Next?

Market observers should watch several key developments: the transition to Trump’s presidency and potential crypto-friendly policies; Federal Reserve’s monetary policy decisions and their impact on dollar strength; and potential institutional entry into the crypto ecosystem under new regulations. Despite current pressures, some analysts remain optimistic about Bitcoin’s potential decoupling from macroeconomic factors and the possibility of more favorable regulations under the Trump administration. The market’s ability to maintain Q4 gains while adapting to changing macroeconomic conditions will be crucial for investor confidence in early 2025.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018