The latest U.S. non-farm payrolls report came in far below expectations, with just 25,000 new jobs added versus forecasts of 75,000.
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.
XRP Holds Steady Around $2.80 Despite Weak Market Signals
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.
Technical Indicators Lean Bearish for Now
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.
Analyst Points to Altcoin Strength
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.
New Bottoming Process Signals Cycle Shift
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.
Liquidity from Fed Cuts Could Be Key Catalyst
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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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-price-calm-before-the-storm-as-altcoin-divergence-signals-breakout/