Coinbase Observes XRP Consolidation Near Key Support as Institutional Interest Grows

XRP is currently consolidating NEAR a critical support level amidst growing institutional interest, hinting at a potential market reversal. As of June 2, 2025, the token is trading at $2.17, reflecting minor declines of 1.2% over 24 hours and 6% weekly. Market activity has slowed, with trading volumes dropping significantly across both spot and derivatives markets.

XRP Consolidates Near Critical Support Amid Institutional Tailwinds

XRP is hovering near a pivotal support level as institutional interest quietly builds, signaling a potential reversal. The token traded at $2.17, down 1.2% over 24 hours and 6% weekly, with a narrow range between $2.11 and $2.35 reflecting market indecision.

Spot and derivatives activity slowed markedly. Daily trading volume dropped 37% to $1.51 billion, while futures volume fell 38% to $2.97 billion with open interest declining 3%.

The lull precedes Coinbase Institutional’s June 13 launch of 24/7 XRP and solana futures trading for U.S. investors. This follows April’s introduction of CFTC-regulated XRP futures through Coinbase Derivatives, positioning the exchange as a conduit for institutional crypto access.

Venture Capital Funding in Crypto Totals $594M in May Amid Seasonal Slowdown

Venture capital investment in cryptocurrency projects reached $594 million in May, according to Blockworks Research data. The figure represents a noticeable decline from previous months, though analysts suggest the dip aligns with seasonal trends rather than signaling market weakness.

Merger and acquisition activity dominated capital flows, with $2.9 billion deployed—primarily driven by Coinbase’s acquisition of Deribit. The 61 funding rounds announced last month skewed heavily toward early-stage investments, with seed rounds comprising the majority of deals.

Market observers note the current slowdown mirrors patterns from May 2023, suggesting cyclical rather than fundamental factors at play. Strategic investment rounds followed seed funding as the second-most common deal type, reflecting continued institutional interest despite smaller check sizes.