XRP Volatility Analysis for Durable Orders, 26th May 2023

Data Analysis

Measured by Clometrix

XRP's volatility ratio was 3.21x, against 1.13x for a typical Durable Orders release since 2021. Its volume ratio was 2.24x, against a typical 1.29x. That is more than twice what this release usually does. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.

How XRP moved

XRP was at $0.4661 when the figure came out. Fifteen minutes later it was 0.26% lower, and an hour later 0.32% lower. Its high-to-low range in the hour after was 0.9% of its price, against 0.84% in the hour before.

The release

Released by the Bureau of Census on 26 May 2023 at 8:30 AM EDT. Durable Goods Orders came in at 0.3% for April 2023, against 3.1% in March 2023. Durable goods orders are still rising, but more slowly than before.

It arrived at the same moment as Durable Goods Orders Excluding Transportation, Personal Income and Outlays, Personal Consumption Expenditures and Core Personal Consumption Expenditures, so the reaction measured on this page belongs to all of them together.

What made it matter

Since 2021, Durable Orders releases in the two weeks before a Fed decision have moved XRP more than those at other times: a median volatility ratio of 1.46x across 18, against 1.13x across 47. This one was not within two weeks of a Fed decision. Its own ratio of 3.21x compares with 1.13x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 65 Durable Orders releases since 2021, XRP's median volatility ratio is 1.13x.

About Durable Goods Orders

The U.S. Census Bureau publishes the Durable Goods Orders report every month. Durable goods orders reflect new orders placed with domestic manufacturers for delivery of long-lasting manufactured goods (durable goods) in the near term or future. The change in the total value of new orders is measured and shared with the public in two releases per month: the advance report on durable goods and the manufacturers' shipments, inventories, and orders.