How XRP reacted to Initial Jobless Claims on 29 December 2022

The release

Released by the Department of Labor on 29 December 2022 at 8:30 AM EST. Initial Jobless Claims fell to 204K for the week ending 24th Dec, from 213K in the week ending 17th Dec.

It arrived at the same moment as Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.

Measured by Clometrix

XRP's volatility ratio was 1.24x, against 1.18x for a typical Initial Claims release since 2021. Its volume ratio was 1.48x, against a typical 1.54x. Under 1.5x is not a reaction at all: the market barely noticed this release. 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 $0.3451 when the figure came out. Fifteen minutes later it was 0.17% higher, and an hour later 0.17% higher. Its high-to-low range in the hour after was 0.52% of its price, against 0.67% in the hour before.

What made it matter

Since 2021, Initial Claims releases in the two weeks before a Fed decision have moved XRP about as much as those at other times: a median volatility ratio of 1.14x across 87, against 1.20x across 193. This one was not within two weeks of a Fed decision. Its own ratio of 1.24x compares with 1.20x for those, about what its circumstances would suggest.

How it compares

Across 280 Initial Claims releases since 2021, XRP's usual price swing is 1.18x. This one was 1.05 times the usual.

MutedOrdinaryStrongExceptional

Thin line: Initial Claims's usual, 1.18x. Thick line: this release, 1.24x. Under 1.5x counts as no reaction at all.

Minute by minute

Each row is the time after the release, with the same length of time before it for comparison.

After	High	Low	Close	Change	Range	Range before	Volume
1 minute	0.3459	0.3447	0.3448	-0.09%	0.35%	0.17%	1.157M XRP
5 minutes	0.3459	0.3443	0.3456	0.14%	0.46%	0.20%	2.351M XRP
10 minutes	0.3459	0.3443	0.3453	0.06%	0.46%	0.35%	3.121M XRP
15 minutes	0.3459	0.3443	0.3457	0.17%	0.46%	0.35%	4.137M XRP
30 minutes	0.3459	0.3443	0.3455	0.12%	0.46%	0.35%	5.827M XRP
1 hour	0.3461	0.3443	0.3457	0.17%	0.52%	0.67%	9.451M XRP
2 hours	0.3472	0.3443	0.3458	0.20%	0.84%	0.95%	20.098M XRP
4 hours	0.3472	0.3443	0.3458	0.20%	0.84%	1.30%	34.808M XRP
6 hours	0.3472	0.3438	0.3444	-0.20%	0.98%	1.38%	50.567M XRP
8 hours	0.3473	0.3428	0.3458	-0.12%	1.30%	2.09%	83.593M XRP
12 hours	0.3472	0.3361	0.3411	-1.17%	3.20%	2.09%	155.582M XRP

Every coin at this release

Coin	Price swing	Usual for Initial Claims	Reaction
Bitcoin	2.99x	1.52x	Strong
Ethereum	4.07x	1.47x	Exceptional
XRP	1.24x	1.18x	Quiet
BNB	2.21x	1.42x	Strong
Solana	1.26x	1.39x	Quiet
Dogecoin	2.18x	1.39x	Strong
TRON	2.29x	1.33x	Strong
Cardano	2.14x	1.35x	Strong
Chainlink	2.00x	1.43x	Strong
Bitcoin Cash	2.50x	1.34x	Strong
Hedera	1.50x	1.32x	Quiet
Avalanche	1.76x	1.42x	Ordinary
Litecoin	1.80x	1.38x	Strong
Shiba Inu	1.53x	1.34x	Ordinary
Uniswap	2.00x	1.35x	Strong
Polkadot	2.00x	1.31x	Strong
Aave	1.99x	1.38x	Strong
NEAR Protocol	1.00x	1.24x	Quiet
Aptos	1.51x	1.41x	Ordinary
Internet Computer	1.48x	1.46x	Quiet
POL (prev. MATIC)	2.36x	1.42x	Strong
Filecoin	2.00x	1.27x	Strong

What is Initial Jobless Claims?

The weekly claims report is released Thursdays at 8:30 a.m. ET by the U.S. Department of Labor (DOL). Initial claims are new jobless claims filed by U.S. workers seeking unemployment compensation, included in the unemployment insurance weekly claims report. The report, published since 1967, includes a separate count of workers receiving unemployment insurance benefits, known as continuing claims.

Every Initial Claims release for XRP

Questions about this page

Is 1.24x a lot?

No. Under 1.5x the market barely noticed the release.

Will the next Initial Claims do the same?

Nobody can say. A forecast shows the range XRP moved in after past Initial Claims releases, so you can plan for the likely size of the move.

Do weekly jobless claims move crypto?

Weekly jobless claims have a median Bitcoin price swing of 1.52x since 2021, which places Initial Claims and Continued Claims in Tier 3. They are released at 8:30 a.m. ET. When a claims release falls on the same minute as a bigger report, such as CPI, the reaction belongs to both. Clometrix measures 296 claims releases in the record since 2021.

Disclaimer

The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.