The incident took place on Ruskin Road just before 5pm on July 20, with locals saying the scenes were the result of children 'running around with knives'.
A 21-year-old was arrested on suspicion of violent disorder and has been given a community resolution.
A second man, aged 30, has also been arrested and released while investigations continue.
These latest arrests mean four people have been detained so far, but enquiries are still ongoing with police eager to hear from anyone with information.
As a result of the brawl, officers were forced to use riot shields as they were pelted by missiles thrown in their direction.
Police say around 50 people were involved in the disorder, which saw four officers injured, three vehicles damaged and items of uniform stolen from one of the police vehicles.
The latest arrests come after a man who filmed himself in a police jacket following the brawl pleaded guilty to vehicle interference and possession of police uniform.
Connor Smith appeared without representation at at Dudley Magistrates Court.
The 28-year-old, from Gough Avenue, Wednesfield, was sentenced to a 12-month community order with 40 hours unpaid work.
He was also fined £50 for the possession of the police jacket, £20 compensation to West Midlands Police, a £114 victim surcharge and £135 costs.
Smith admitted it was a "stupid thing to do" but he thought it "would be funny to video" himself.
Meanwhile Rikki Burton, 30, of Westcroft Avenue, Wolverhampton was given a 10-week suspended sentence for two years for theft from a motor vehicle.
A spokesperson for West Midlands Police said: "We have arrested two further people following a disorder on Ruskin Road, Wolverhampton on 20 July.
"We're still keen to hear from anyone with information.
"You can contact directly via our website west-midlands.police.uk and quote log 3152 of 20/7/22.
"Alternatively, you can speak to Crimestoppers anonymously on 0800 555111. Tell them what you know, not who you are."