XRP Bulls Eye $2 as Price Taps 200-Day Swing Highs

XRP has experienced a strong bullish trend in recent days, and its price has tapped the swing highs of the previous 200 days. After undergoing a retracement phase by losing -10.75% in a week, the price has dropped to the 200-days EMA on a daily timeframe.

Suppose buyers manage to defend the 200-days EMA, backed by rising volume and open interest, it could set up a run toward the psychological $2 level, a roughly 45% move from current levels. This would be a significant milestone for XRP, which has been struggling in recent months.

However, if the price slips below the 200-days EMA, buyers might panic, and traders and investors may prefer to book profit, pulling the price toward the 100-day EMA and potentially exposing the $1 support zone.

The late-August volume spike shows that XRP is far from short of market interest; the coin can still attract explosive capital inflows when sentiment turns. The current pullback and cooling volume look more like healthy consolidation after a sharp rally than a reversal of trend.