XRP Price Consolidation: Will $2 Be Next?

XRP price has been consolidating around its 200-day EMA near $1.27, leaving traders wondering if it will continue to hold or break through to $2.

The current price of XRP is around $1.4078, with a daily volume of approximately $1.67B. This suggests that participation in the market has not dried up despite the price consolidation.

A key catalyst for XRP's potential move towards $2 could be the upcoming XRPL upgrade on September 11, which reportedly has over 80% validator support. However, if the 200-day EMA is broken, it could lead to a retest of lower levels near $1.15.

The market is also being influenced by Bitcoin's performance and risk-asset sentiment tied to it, highlighting the correlation between XRP and BTC.