XRP Volatility Analysis for Durable Orders, 26th March 2024

Data Analysis

The data released by Bureau of Census for Durable Goods Orders on 26th March, 2024 has come in at an increase to 0.7% for February 2024. Compared to the previous release for January 2024 at -7.8%, we can see that business confidence is increasing month over month.

To see the impact and volatility of XRP's price during the Durable Orders release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 87.52M XRP with prices swinging between 0.6365 and 0.6502, representing a swing of 2.11%. Subsequently, the trading volume increased considerably by 68% to 146.66M XRP. Price action ranged from a low of 0.6262 to a high of 0.6452, a difference of 2.94%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 4.752M XRP in trading volume was observed prior to the data release. Prices ranged between a low of 0.6415 to a high of 0.6442, a 0.42% change. Immediately following, trading volume decreased by 17% to 3.963M XRP. At this time, XRP hit a low of 0.6432 with a high of 0.6446, a change of 0.22%.

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.