XRP is hovering near a key support level as data shows institutional sentiment is beginning to cool off. According to a June 2 weekly report from CoinShares, XRP-focused investment products recorded their second consecutive week of outflows after losing a total of $28.2 million. This contrasts sharply with the larger digital asset market, which saw $286 million in inflows last week and a cumulative $10.9 billion over a seven-week run. Despite the market-wide inflows, overall assets under management fell to $177 billion from an all-time high of $187 billion. This decline occurred as prices cooled in reaction to growing uncertainty about U.S. tariffs , which caused major asset volatility. The ongoing withdrawals from XRP ( XRP ) investment products point to investor hesitancy, as reflected by XRP’s recent range-bound price. At press time, XRP is trading at $2.20, up 1.6% in the past 24 hours. It has traded between $2.11 and $2.35 over the last week. Spot trading activity appears to be climbing. In the past 24 hours, XRP’s trading volume rose over 24% to nearly $2 billion, pointing to renewed interest despite price consolidation. On the derivatives front, open interest is up 2% to $3.98 billion, and derivatives volume has jumped 18% to $3.45 billion, as per Coinglass data . This indicates that more traders are positioning for near-term volatility. You might also like: https://crypto.news/vivopower-to-tap-into-bitgo-for-100m-xrp-buy/ Looking at the technical picture, XRP remains under pressure. The asset is trading below its 10, 20, 50, and 100-day moving averages, all of which are flashing sell signals, suggesting that it is in a short- to medium-term downtrend. The 200-day exponential moving average is the only discernible bullish signal, indicating that there might be some longer-term support left. XRP price analysis. Credit: crypto.news While the relative strength index is at 43.5, just short of oversold territory but still neutral, the moving average convergence divergence shows a negative crossover, indicating that bearish momentum is still present. The narrowing Bollinger Bands indicate less volatility and a potential breakout in the future. XRP is currently trading near the lower band, which has often acted as support. A bullish breakout would require a move above the $2.30–$2.35 resistance level, ideally supported by rising volume and a crossover of the short-term moving averages. A sustained close above the 50-day EMA would be an early sign of strength. In that case, XRP could attempt to reclaim the $2.50 zone. However, if XRP fails to hold above $2.13 and breaks through $2.10 on heavy volume, the next downside target could lie near the psychological $2.00 level, with extended weakness opening the door to $1.85. Read more: Top 4 reasons why XRP price may surge 50% in June
