XRP was pushing towards the $2.00 level as gains spread across the broader cryptocurrency market.
The token traded above $1.90, following the strength of Bitcoin, which retested levels above $89,200, while Ethereum returned above $3,000.
The rebound was reflected across the broader market, with all top 10 cryptocurrencies trading in positive territory at the time of writing on Wednesday, January 28.
The cryptocurrency was trading around $1.92 at the time of writing, up more than 2% in the last 24 hours.
Daily trading volume was down 4%, to around $2.33 billion.
XRP price and broader market context
After starting the week lower, cryptocurrency prices appear to be turning positive again as risk assets jump ahead of the Federal Reserve’s policy decision.
The current weakness in the US dollar, which is bolstering demand for assets such as cryptocurrencies, is bolstering sentiment, and XRP bulls could take advantage of this to target a breakout above the critical $2.00 mark.
However, the macroeconomic context could still weigh on the markets.
Bitcoin’s move above $89,200 is due in part to anticipation of the Federal Reserve’s policy meeting on January 28, 2026.
A weaker dollar and a shift toward risk-oriented positioning could provide additional support, an environment that has already helped push gold to a new all-time high.
Despite this, XRP may struggle to re-establish a sustained uptrend, with broader macroeconomic conditions and general market sentiment expected to become more supportive of bullish momentum.
Versan Aljarrah, founder of Black Swan Capital, commented via X:
“Gold hits a new all-time high at $5,200 as countries rush to repatriate their gold. This is no coincidence. Gold has been classified as a Tier 1 asset because it sits at the center of the new financial system. And $XRP is the counterpart that most have yet to connect.”
Ripple Price Prediction as XRP Eyes $2
As noted, XRP price has declined in recent weeks as bearish pressure weighed on buyers, pushing it below $1.80.
The coin, much like the rest of the market, has been struggling since the crypto crash of October 10, 2025.
Despite steady inflows into XRP spot ETFs, low retail interest has limited upward momentum.
A consolidation phase after a strong rally at the start of the year means that the $2 level appears to be a critical psychological and technical zone for XRP bulls and bears.
Moving above $2 on a confirmed daily close, especially with increasing volume, would signal a structural change.
XRP reclaiming the level and the 200-day simple moving average will lead the way to $2.30 – $2.50.
The $2.00 threshold also represents a pivot where institutional accumulation via ETFs could dominate retail.
If buyers demonstrate dominance, this could transform from a barrier into key support and a launching pad for higher targets.
