Crypto markets witnessed profit-taking activity early Thursday morning, as XRP saw a decline of over 1.61% in price to settle at $2.21 after hitting highs around $2.28 on Wednesday. Data from CoinMarketCap reveals a trading volume of just $1.97 billion for the past 24 hours, marking a significant drop compared to its previous daily activity that frequently surpassed $3 billion or $6 billion in volume. 🤔 Whether this is a temporary slump or a sign of a larger market slowdown remains to be seen. Analysts are closely watching XRP’s price charts to gauge its future direction. 📈 Historical data suggests June often presents mixed outcomes for major cryptocurrencies, as per 10x Research which reports on average a slight decline in Bitcoin’s returns in June (with a trend of 1.9% average return). For XRP, this tendency seems even worse, reflecting its historical performance in June. **What’s driving the price dip?** 📉 The current situation is marked by profit-taking after a four-day rally since May 31st. Currently, resistance lies between $2.265-$2.270, with repeated unsuccessful breakouts and high trading volume indicating dominance from sellers. Support at around $2.10-$2.15 has emerged, but further testing may occur if selling pressure persists. On a brighter note, Webus filed with the SEC on Wednesday for a $300 million fundraising effort, with a significant portion allocated to establish an XRP strategic reserve. 🤝 Coinbase launched wrapped versions of XRP on its Base layer-2 platform, opening up DeFi opportunities through cbXRP token. The token has seen a surge in market cap exceeding $5 million within the last 24 hours, demonstrating increased interest in this new approach.