XRP Price Volatility: Will Soft-Landing Jobs Data Save the Token?

XRP's price has taken a hit, falling by -2.5% to $1.36 as of September 1. This decline comes after a 21% pullback from its August highs of $1.7. The question on trading desks now is whether the token can rebound this week.

A key factor in determining XRP's future price movement will be the upcoming US non-farm payrolls (NFP) data, due to be released this week. Economists expect a soft-landing NFP print, showing roughly 58,000 jobs added with unemployment holding near 4.1%. This would likely keep XRP range-bound between $1.4 and $1.7.

However, Bloomberg's Chief US Economist Anna Wong has suggested an alternative scenario, flagging a 'certain probability of recording negative growth.' If this were to happen, it could change the calculus entirely for XRP.

A 1 billion token unlock from Ripple's escrow is also set to take place today, which adds another variable to consider in XRP's price movement. With the Federal Reserve's mid-September decision looming, rate-sensitive assets like XRP will be closely watched.