XRP Price Consolidation: Will Catalyst Break the Range?

XRP's price has been consolidating around $1.42 after a slow week of trading.

The token surged from $0.98 to $1.70 during the August rally but has since settled into a consolidation phase.

According to an analysis, XRP is currently stuck in the middle of its range, waiting for a catalyst to move forward.

The 2-hour chart shows that XRP broke out of the $1.00 base on August 19-22 and reached $1.70 before correcting without returning to the original breakout zone.

The rebound from the $1.31-$1.34 area on September 2 saw XRP impulsed towards $1.48, but it was rejected and is now trying to establish a higher low around $1.38-$1.40.