XRP was pushing higher toward the $2.00 level as gains spread across the broader cryptocurrency market.
The token traded above $1.90, tracking strength in Bitcoin, which retested levels above $89,200, while Ethereum moved back above $3,000.
The rebound was reflected across the market, with all top 10 cryptocurrencies trading in positive territory at the time of writing on Wednesday, January 28.
The cryptocurrency traded around $1.92 at the time of writing, up more than 2% in the past 24 hours.
Daily trading volume was down 4% to about $2.33 billion.
XRP price and broader market context
After starting the week lower, cryptocurrency prices are looking to flip positive as risk assets jump ahead of the Federal Reserve’s policy decision.
The prevailing US dollar weakness that enhances demand for assets like cryptocurrencies is boosting sentiment, and XRP bulls might take advantage to target a breakout above the critical $2.00 mark.
However, the macroeconomic backdrop could still weigh on markets.
Bitcoin’s move above $89,200 has been driven in part by anticipation ahead of the Federal Reserve’s January 28, 2026, policy meeting.
A softer dollar and a shift toward risk-on positioning could provide further support, an environment that has already helped push gold to a fresh all-time high.
Even so, XRP may find it challenging to re-establish a sustained uptrend, with broader macro conditions and overall market sentiment needing to turn more supportive for bullish momentum to take hold.
Versan Aljarrah, founder of Black Swan Capital, commented via X:
“Gold breaks a new all time high at $5200 as countries rush to repatriate their gold.That’s not a coincidence. Gold was classified as a Tier 1 asset because it sits at the center of the new financial system. And $XRP is the counterpart most still haven’t connected.”
Ripple price prediction as XRP eyes $2
As noted, XRP’s price declined in recent weeks as bearish pressures weighed on buyers, pushing it under $1.80.
The coin, much like the rest of the market, has struggled since the October 10, 2025, crypto crash.
Despite steady XRP spot ETF inflows, low retail interest has limited upside momentum.
A consolidation phase after a strong early-year surge means the $2 level is emerging as a critical psychological and technical zone for both XRP bulls and bears.
Breaking above $2 on a confirmed daily close, particularly with rising volume, would signal a structural shift.
XRP reclaiming the level and the 200-day simple moving average will open up the path to $2.30-$2.50.
The $2.00 threshold also represents a pivot where institutional accumulation via ETFs could overpower retail selling.
If buyers show dominance, it could transform from a barrier into a key support and launchpad for higher targets.
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