XRP is trading at around $2.17, down 1.2% over 24 hours and 6% over the past week.
The cryptocurrency broke below the mid-range level of $2.27 and is testing early May lows around $2.05-$2.08.
Technical indicators show bearish momentum with capital outflows and decreasing trading volumes.
Institutional interest is growing with new offerings from Coinbase and Ault Capital Group. Price is consolidating between $2.11 and $2.35, with crucial support at $2.12 and resistance at $2.34.