XRP’s market picture turned cautious on May 21, as the Supertrend indicator flipped bearish for the first time since April. Trading at $1.3710, the token sat below all four key exponential moving averages, with the Supertrend printing a sell signal at $1.3296. Polymarket bettors reflected this near‑term pessimism, giving XRP only a 6% chance of reclaiming $1.50 by May 24 and a 25% probability of sliding under $1.30.
Popular analyst Crypto Michael framed the weak price action as a deliberate shakeout before the real breakout, while the daily chart showed deteriorating structure. Despite the technical headwinds, institutional appetite remained robust. XRP spot ETFs recorded $1.45 million in daily inflows on May 20, keeping cumulative net assets at $1.39 billion, though total net assets slipped to $1.13 billion.
Just one day later, on May 22, fresh data revealed a further $8.88 million purchase by ETF clients, propelling total ETF‑held XRP assets to a record $1.15 billion. This milestone underscores growing confidence among large investors, who increasingly use regulated products to gain exposure without custody risks. The accumulation comes amid a broader expansion of the crypto ETF market, with Bitcoin and Ethereum products already attracting billions in institutional capital.
While short‑term technicals remain bearish, the sustained ETF inflows could support XRP’s price outlook if institutional demand continues through 2026. Analysts note that consistent buying reduces available supply and may reinforce bullish momentum once the current shakeout resolves.
