XRP is consolidating near a critical support level as fresh institutional tailwinds hint at a possible reversal.
At the time of writing, XRP (XRP) is trading at $2.17, down 1.2% over the past 24 hours and 6% over the past week. Over the previous seven days, the token has traded between a narrow range of $2.11 and $2.35, indicating that the market is uncertain of its next course. Volume data supports the caution.
With $1.51 billion in trading volume over the past 24 hours, XRP has seen a nearly 37% decrease in activity compared to the previous day, indicating a slowdown in spot market activity.
The derivatives market also saw declining volumes. According to Coinglass data, XRP futures volume fell 37.85% to $2.97 billion, while open interest dipped 3.39% to $3.90 billion.
While short-term sentiment cools, institutional interest in XRP is quietly accelerating. On May 29, Coinbase Institutional announced it will launch 24/7 trading access to XRP and Solana (SOL) futures for U.S. investors starting June 13.
The move follows the company’s April rollout of CFTC-regulated XRP futures through Coinbase Derivatives. Coinbase described the product as a capital-efficient method for gaining exposure to “one of the most liquid digital assets” and is now building toward continuous market access to match crypto’s round-the-clock rhythm.
Another key milestone came from Ault Capital Group, a subsidiary of publicly traded Hyperscale Data. Also on May 29, the firm announced a Q3 rollout of an institutional XRP lending platform aimed at public companies listed on the New York Sock Exchange and Nasdaq.
The platform will provide futures-hedged, asset-backed loans, with all contracts tracked on-chain through the XRP Ledger. ACG will buy up to $10 million worth of XRP to support the initiative and manage volatility with Chicago Mercentile Exchange futures.
Despite this institutional backdrop, technicals remain cautious. The token hovers just above the lower Bollinger Band near $2.12, with the midline at $2.34 now acting as resistance. At 40.82, the relative strength index is getting close to oversold territory without yet indicating a reversal.
Except for the 200 estimated moving average, which is still supportive, moving averages across all major timeframes flash sell signals. This indicates that although XRP is still above its long-term trend floor, it’s currently in a medium-term correction phase. The moving average convergence divergence, which is below the signal line with a negative value of -0.027, supports the short-term bearish bias.
Immediate support lies at $2.12. A breakdown below this level could open the way to test the psychological $2.00 level, with stronger structural support near $1.91–$1.95 based on historical consolidation.
On the upside, the first resistance is at the 20-day simple moving average around $2.34, followed by the upper Bollinger Band at $2.56. Bulls would need to reclaim these levels to reestablish trend control.
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