The release
Released by the Bureau of Economic Analysis on 29 February 2024 at 8:30 AM EST. The Personal Consumption Expenditures came in at 0.4% for January 2024, against 0.2% in December 2023. Prices are rising faster than before.
It arrived at the same moment as Personal Income and Outlays, Core Personal Consumption Expenditures, Initial Jobless Claims and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
How XRP moved
XRP was at $0.5957 when the figure came out. Fifteen minutes later it was 1.04% higher, and an hour later 1.58% higher. Its high-to-low range in the hour after was 2.08% of its price, against 1.09% in the hour before.
Measured by Clometrix
XRP's volatility ratio was 2.07x, against 1.81x for a typical PCE release since 2021. Its volume ratio was 1.84x, against a typical 1.95x. That is about 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.
What made it matter
Since 2021, PCE releases in the two weeks before a Fed decision have moved XRP less than those at other times: a median volatility ratio of 1.50x across 17, against 1.93x across 50. This one was not within two weeks of a Fed decision. Its own ratio of 2.07x compares with 1.93x for those, about what its circumstances would suggest.
Its record
Across 67 PCE releases since 2021, XRP's median volatility ratio is 1.70x.
How it compares
Across 66 PCE releases since 2021, XRP's usual price swing is 1.81x. This one was 1.14 times the usual.
Thin line: PCE's usual, 1.81x. Thick line: this release, 2.07x.
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 | 0.5986 | 0.5956 | 0.5985 | 0.47% | 0.50% | 0.42% | 842,025 XRP |
| 5 minutes | 0.6004 | 0.5956 | 0.6001 | 0.73% | 0.80% | 0.60% | 5.635M XRP |
| 10 minutes | 0.6049 | 0.5956 | 0.6046 | 1.47% | 1.54% | 0.70% | 14.334M XRP |
| 15 minutes | 0.6057 | 0.5956 | 0.6019 | 1.03% | 1.67% | 0.75% | 21.462M XRP |
| 30 minutes | 0.608 | 0.5956 | 0.6032 | 1.24% | 2.04% | 0.80% | 43.061M XRP |
| 1 hour | 0.608 | 0.5956 | 0.6051 | 1.55% | 2.04% | 1.09% | 65.827M XRP |
| 2 hours | 0.6091 | 0.5956 | 0.6059 | 1.68% | 2.22% | 1.73% | 134.62M XRP |
| 4 hours | 0.626 | 0.5943 | 0.6009 | 0.87% | 5.06% | 2.00% | 343.066M XRP |
| 6 hours | 0.626 | 0.5918 | 0.6101 | 2.36% | 5.46% | 2.21% | 481.112M XRP |
| 8 hours | 0.626 | 0.5895 | 0.6009 | 1.65% | 5.83% | 5.53% | 518.43M XRP |
| 12 hours | 0.626 | 0.577 | 0.5917 | -0.68% | 7.83% | 5.53% | 708.267M XRP |
Every coin at this release
| Coin | Price swing | Usual for PCE | Reaction |
|---|---|---|---|
| Bitcoin | 2.16x | 2.03x | Ordinary |
| Ethereum | 1.68x | 1.77x | Ordinary |
| XRP | 2.07x | 1.81x | Ordinary |
| BNB | 1.62x | 1.75x | Ordinary |
| Solana | 1.75x | 1.57x | Ordinary |
| Dogecoin | 1.40x | 1.52x | Quiet |
| TRON | 2.29x | 1.43x | Strong |
| Cardano | 1.84x | 1.90x | Ordinary |
| Chainlink | 2.73x | 1.62x | Strong |
| Sui | 1.50x | 1.53x | Ordinary |
| Bitcoin Cash | 2.47x | 1.69x | Strong |
| Hedera | 1.25x | 1.51x | Quiet |
| Avalanche | 2.21x | 1.55x | Strong |
| Litecoin | 1.19x | 1.64x | Quiet |
| Shiba Inu | 0.98x | 1.75x | Quiet |
| Uniswap | 1.20x | 1.49x | Quiet |
| Polkadot | 2.02x | 1.50x | Strong |
| Aave | 1.85x | 1.58x | Ordinary |
| NEAR Protocol | 1.98x | 1.43x | Strong |
| Aptos | 0.86x | 1.73x | Quiet |
| Internet Computer | 2.56x | 1.50x | Strong |
| POL (prev. MATIC) | 2.00x | 1.60x | Ordinary |
| Filecoin | 1.42x | 1.51x | Quiet |
What is the Personal Consumption Expenditures?
Personal consumption expenditures (PCE) is a measure of the prices people in the United States pay for goods and services. PCE accounts for about two-thirds of domestic spending and is a significant driver of gross domestic product (GDP). An estimated total of personal consumption expenditures (PCE) is compiled by the Bureau of Economic Analysis as one way to measure and track changes in the prices of consumer goods over time.Questions about this page
Is 2.07x a lot?
For a PCE release it is ordinary: the usual is 1.81x. Each report has its own usual size, and its releases show it.
Will the next PCE do the same?
Nobody can say. A forecast shows the range XRP moved in after past PCE releases, so you can plan for the likely size of the move.
What is PCE, and why does the Fed watch it?
PCE is the Personal Consumption Expenditures price index published by the Bureau of Economic Analysis. The Federal Reserve measures its 2 percent inflation goal with the PCE price index. PCE, Core PCE and Personal Income are released together at 8:30 a.m. ET and share one reaction. Their median Bitcoin price swing since 2021 is 2.03x, which places them in Tier 2.
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.