As of 9:07 a.m. UTC on Dec. 30, the global cryptocurrency market capitalization stands at $3.43 trillion, reflecting a 2.8% decline over the past 24 hours. The 24-hour trading volume across the market is $123.37 billion, signaling relatively subdued activity.
BTC, ranked #1, is trading at $93,652.80, down 1.3% over the past 24 hours, with a market capitalization of $1.85 trillion and $34.99 billion in 24-hour trading volume. ETH, holding the #2 position, is priced at $3,414.45, having gained 0.8% in the same period, with a market capitalization of $411.28 billion and $17.58 billion in trading volume.
XRP, ranked #4, is at $2.07, showing a significant 5.1% decline over the past 24 hours, with a market capitalization of $118.68 billion and $4.65 billion in trading volume. SOL, positioned at #6, is trading at $192.93, up 1.0%, with a market capitalization of $92.57 billion and $2.93 billion in trading activity.
XRP has experienced a remarkable year-to-date (YTD) return on investment (ROI) of 233.65%, indicating significant growth compared to its price at the beginning of the year. Over longer timeframes, XRP has shown resilience, with a 30-day increase of 8.2%. However, its performance over shorter periods has been less impressive. In the past 24 hours, XRP has declined by 5.1%, part of a broader seven-day decrease of 6.7% and a two-week decline of 13.7%. These figures suggest recent volatility and a downturn in investor sentiment, which could be tied to external market conditions or XRP-specific news.
The 5-day XRP-USD chart reveals a pronounced downward trend during the Christmas period, suggesting potential selling pressure or profit-taking by investors. XRP started the period with relative stability but began to decline sharply around Dec. 25, continuing into the following days. By Dec. 30, XRP has shown little sign of recovery, reinforcing the need for further examination of fundamental factors influencing its performance.
Source: TradingView
The DXY, or U.S. Dollar Index, is a measure of the strength of the U.S. dollar against a basket of six major global currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. It serves as a key indicator of the dollar’s value in the global forex market.
Source: TradingView
On Dec. 18, a notable spike in the DXY occurred at precisely 7:30 p.m. UTC, which coincided with the beginning of Federal Reserve Chair Jerome Powell’s remarks at the FOMC press conference. This sharp increase reflects an immediate market response to Powell’s hawkish guidance, where he indicated that interest rates could remain higher for longer in 2025. This reinforced the dollar’s appeal as a safe haven, contributing to its strong performance.
