XRP Slides 3.5% Amid Profit-Taking, Yet Institutional Interest Surges Ahead of Ripple Event

XRPUSDT experienced a 3.5% decline over the past 24 hours, dropping from a 24h open of 2.3097 to a current price of 2.2288 on Binance. The price pullback is primarily attributed to profit-taking after XRP failed to break resistance at 2.33, alongside broader market volatility and anticipation of a major Ripple event expected on June 16. Despite the recent downturn, institutional interest remains strong, supported by developments such as the launch of tokenized US Treasuries (OUSG) on the XRP Ledger, upcoming EVM-compatible sidechain integration for Ethereum-based applications, and the recent approval of XRP futures-based ETFs and CME futures listings. XRP maintains high trading activity, with a 24-hour volume of approximately $2.84 billion and an estimated market cap near $129.5 billion, reflecting continued investor engagement and liquidity.