Ready 2 Rumble Boxing: Round 2 features eleven boxers. Eight boxers (Afro Thunder, Lulu Valentine, "Raging" Rivera, Jet "Iron" Chin, Mama Tua, Johnny Blood, Robox Rese 4, and Joey T.) are available from the start and three more are unlockable as additional boxers (two of them being real life celebrities).
Arcade mode lets the player jump in the ring straight away and lets them box their way through several matches. Survival mode is similar to the Arcade mode, except the player's health isn't restored from the previous match so it becomes a test of endurance.
The Championship mode is the most in depth mode for this game. It lets the player take their boxer from the start of their career to their final championship match. Between matches, the player has to train their boxer. Training involves exercise mini-games like weightlifting, using the speed bag, and heavy bag. Depending on how the player performs at these tasks will effect how much stats like their boxer's stamina, speed, and power will increase.
Before a fight, boxers are introduced in the boxing ring by announcer Michael Buffer. During a fight, each boxer has two meters they have to pay attention to. One meter measures their health and the other measures their stamina. A boxer losing all of their health will get knocked down. The stamina meter measures how strong a punch is thrown. It will drain each time a boxer throws a punch and will slowly refill while not throwing punches, so it's better to throw punches to land with as much power as possible then to throw punches wildly as they will lose their potency as the boxer starts tiring. Taunting an opponent will earn a boxer letters that will eventually spell out the word "Rumble". Once the word is filled out, the player can unleash a flurry of punches on their opponent which doesn't cost their boxer any of their stamina for a limited amount of time.
After a match, the fight stats are shown and list things like the number of punches thrown and punches landed, punch accuracy, and the total number of knockdowns given to the opponent.