Combined with weak initial jobless claims, the data reinforces concerns about a cooling labor market. Markets are increasingly confident that the Federal Reserve will be forced to cut interest rates soon in an attempt to stabilize the economy.
Despite the macro backdrop, XRP showed little reaction, trading flat near $2.82 with a market cap of $168 billion. The token has hovered in the $2.70–$2.90 range in recent sessions, reflecting investor caution as both crypto and traditional markets await clarity from the Fed.
Daily trading outlooks suggest short-term pressure remains on XRP. Moving averages and oscillators both indicate “sell” signals, while the RSI stays in a neutral zone, signaling indecision. The MACD also reflects weak momentum, underscoring the lack of buying conviction.
Amid XRP’s sideways action, market analyst Michaël van de Poppe highlighted strength building in the wider altcoin sector. He pointed to a “massive bullish divergence” on the TOTAL2/BTC chart, suggesting that altcoins are entering a bottoming phase that could fuel a new leg upward.
Van de Poppe emphasized that current price action across altcoins should not be mistaken for the start of a bear market. Instead, he believes the market is undergoing a “new bottoming process,” similar to previous cycle lows, which historically preceded strong recoveries.
For XRP, the path forward may hinge on the Fed. Should policymakers move swiftly to cut rates, increased liquidity could flow into risk assets, providing the fuel for XRP and other altcoins to break higher. Until then, XRP is likely to remain range-bound, waiting for a catalyst that could tip sentiment.
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