XRP was trading at around $1.92 on Wednesday, up more than 1% over the past 24 hours, as the broader crypto market attempted to recover from a sharp sell-off seen earlier this week.
U.S. unemployment hits four-year high
Fresh U.S. economic data showed signs of a weakening labour market. The U.S. unemployment rate rose to 4.6% in November, its highest level since September 2021, according to official figures.
The reading came in above expectations of around 4.4–4.5%, raising concerns that economic conditions are slowing faster than policymakers had anticipated.
Fed easing hopes support crypto sentiment
The higher-than-expected unemployment rate has increased speculation that the Federal Reserve may need to cut interest rates and inject more liquidity into the economy in the coming years.
Analysts say a softer labour market suggests the Fed’s tight monetary policy may have gone too far. Lower interest rates and potential quantitative easing (QE) are typically viewed as positive for cryptocurrencies, as they improve liquidity and encourage risk-taking.
XRP Technical Levels in Focus
Despite the short-term rebound, XRP remains in a longer-term consolidation phase. The token has been correcting for nearly a year, with support between $1.90 and $1.75.
A break below this zone could trigger further losses, while a move above $2.17 would be an early sign of renewed bullish momentum.
Next Resistance and Outlook
The next major resistance for XRP is seen between $2.69 and $2.84. A decisive breakout above this range could pave the way for a stronger rally later in the market cycle.
For now, analysts say XRP remains fragile in the short term but could benefit if worsening economic data forces the Fed to adopt a more supportive policy stance. The broader crypto market is watching upcoming macroeconomic signals for confirmation of a sustained recovery.
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