TLDR
- XRP (XRP) Price: Trading at $2.17, down 1.2% in 24 hours and 6% weekly
- Coinbase Institutional launching 24/7 XRP futures trading access starting June 13
- Ault Capital Group planning $10 million XRP purchase for institutional lending platform
- Trading volume dropped 37% to $1.51 billion as market shows consolidation patterns
- Technical indicators suggest potential test of $2.05 support level with bearish momentum
XRP is currently trading at $2.17, showing a decline of 1.2% over the past 24 hours. The token has dropped 6% over the past week, with price action confined to a narrow range between $2.11 and $2.35.
This consolidation pattern reflects market uncertainty about XRP’s next direction. Trading volume supports this cautious sentiment, with 24-hour volume falling to $1.51 billion.
The volume represents a 37% decrease compared to the previous trading session. Derivatives markets mirror this decline in activity.
XRP futures volume dropped 37.85% to $2.97 billion according to Coinglass data. Open interest also decreased by 3.39% to $3.90 billion.
Despite cooling short-term sentiment, institutional developments are emerging. Coinbase Institutional announced plans to launch 24/7 trading access for XRP futures.
The service will begin June 13 for U.S. investors. This follows Coinbase’s April launch of CFTC-regulated XRP futures through Coinbase Derivatives.
Institutional Platform Development
Ault Capital Group revealed plans for an institutional XRP lending platform. The subsidiary of publicly traded Hyperscale Data will target companies listed on NYSE and Nasdaq.
The platform launch is scheduled for Q3 2025. ACG plans to purchase up to $10 million worth of XRP to support the initiative.
All contracts will be tracked on-chain through the XRP Ledger. The firm will use Chicago Mercantile Exchange futures to manage volatility risks.
The token currently trades just above the lower Bollinger Band near $2.12. The midline at $2.34 now acts as resistance for any upward movement.
The relative strength index sits at 40.82, approaching oversold territory. However, it has not yet indicated a potential reversal signal.
Moving averages across major timeframes show sell signals. Only the 200-day moving average remains supportive of current price levels.
Technical Support Levels
The moving average convergence divergence indicator trades below the signal line. It shows a negative value of -0.027, supporting the bearish bias.
Immediate support sits at $2.12 based on recent price action. A breakdown below this level could lead to testing the $2.00 psychological level.
Stronger structural support exists near $1.91-$1.95 based on historical patterns. The liquidation heatmap shows liquidity clusters around the $2.05 region.
Technical analysis suggests this zone may be revisited if selling pressure continues. The Capital Money Flow indicator reads -0.07, showing capital outflows from the market.
First resistance appears at the 20-day simple moving average around $2.34. The upper Bollinger Band provides additional resistance at $2.56.
The SEC has formally initiated a review of the WisdomTree XRP Trust. While this doesn’t confirm approval, it demonstrates regulatory attention to XRP products.
XRP has approached early May lows around $2.08 in recent trading sessions. The price action suggests a range formation rather than a bullish recovery pattern.
The post XRP Price: Wall Street Moves Quietly While Token Tests Key Support appeared first on CoinCentral.
