The crypto earthquake is going in full circles today, amplified by a few bearish macro-economic factors in the wake of already super-fearful market sentiment. Aside from soaking in fear, the broader markets have to deal with the liquidity crunch left after mid October’s $19 billion liquidations took market connoisseurs by surprise.
Lagging US Jobs Data Stalls XRP Coin’s Rebound Effort
This heavily reflects on most major-cap altcoins, including Ripple (XRP). According to the latest insights from Glassnode, XRP’s 30-day Exponential Moving Average (EMA) of daily realized losses has rocketed to roughly $75 million per day. Notably, this signifies the lack of confidence among retail investors as markets soak in panic.
Despite more new jobs than expected, the Labor Department’s latest data for September revealed that the unemployment rate has risen to a record high 4.4% instead of expected 4.3%. On top of that, the Department of Labor chose to reveal October’s & November’s data later than expected, planning for December 16, 2025.
Anything Goes: XRP’s Price Bumps Into Dual Sentiment
Notably, this adds extra uncertainty for the broader market that’s barely got room for any more fear-mongering. With the current market sentiment being either pulled to an ultra bearish or ultra bullish stance, this extreme sentiment polarization reflects the disappearance of a status quo – a neutral position.
Ultimately, this makes regular market moves more sensitive, with small shocks often causing outsized on-chain moves. Institutional players, as well as profitable solo players referred to as ‘smart money’, often step in to accumulate positions when this happens, as seen in the $15.82M XRP ETF inflow today.
At publication time, the popular remittance altcoin Ripple (XRP) is changing hands at $1.99, aiming to recoup the $2 resistance level. While big-time players carry on distributing positions, XRP’s price projection remains bearish due to ongoing profit-taking & high correlation with Bitcoin’s (BTC) market value.
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The Bureau of Labor Statistics released combined September and partial October data due to the government shutdown. Employers added 119,000 jobs in September (vs. 51,000 expected), but revisions lowered prior months by 33,000.
The OG altcoin dumped over 5-8% in the hours following the release, breaking below $2 to trade around $1.85-$1.92. The broader crypto market fell 2-3%, with automated liquidations amplifying the sell-off amid thin liquidity.
The data raised doubts about imminent Fed rate cuts—stronger-than-expected hiring suggests the economy isn’t cooling fast enough, keeping borrowing costs high. This hurts risk assets like crypto, as investors shift to safer bets and reduce exposure.
Volume’s surged to $9.87B (CoinMarketCap), market cap steady at ~$120B with 60B circulating supply. That’s 2x the average, signaling renewed interest despite market volatility.
Short-term bulls eye $2.50 by month-end if ETF filings from BlackRock materialize; bears warn of $1.70 if equities wobble on inflation data on Black Friday. DYOR—crypto’s wild.
