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Institutional interest in XRP appears to be recovering after a period of weaker demand earlier in the year. In March, outflows showed that investors were still cautious as broader crypto market conditions remained uncertain. However, sentiment began to improve in early May as regulated XRP investment products started attracting fresh capital again.
This recovery became more noticeable on May 11, when XRP ETFs saw around $25.8 million in net inflows. It was the strongest daily inflow since January. Franklin Templeton’s XRPZ reportedly contributed about $13.6 million, while total ETF holdings moved above 860 million XRP.
During the same period, XRP traded in a narrow range between $1.42 and $1.48. The price did not show a strong breakout, but it also held firm support. This type of price stability suggests that institutional investors may be building exposure gradually instead of chasing short-term moves. Still, weak macro conditions could continue to slow stronger upside momentum.
On-chain data also supports the idea of rising confidence among larger holders. XRP whale wallets reached a new all-time high, with more than 332,000 wallets holding at least 10,000 XRP. This shows that accumulation has continued to build after starting a stronger trend around June 2024.
There was some disruption earlier in the year when the February market crash caused thousands of large XRP wallets to disappear in just two days. However, whale activity recovered steadily afterward and eventually moved beyond previous highs. This suggests that larger investors are not only reacting to short-term hype but may be positioning for longer-term growth.
The increase in whale wallets also comes at a time when regulatory clarity and ETF access remain important themes for XRP. If these developments continue to improve investor confidence, XRP could see stronger demand from both institutions and long-term holders.
Derivatives activity is also becoming more active. XRP futures volume recently moved close to $3 billion over 24 hours, while spot trading volume remained much lower at around $656 million. This shows that many traders are using leverage to chase potential upside linked to policy and ETF momentum.
At the same time, XRP exchange reserves have been falling toward 2.7 billion XRP. Lower exchange reserves can reduce immediate selling pressure because fewer coins are available for quick market exits. It may also suggest that larger holders are moving XRP into long-term storage or using it for other purposes instead of keeping it ready to sell.
Overall, XRP’s strongest ETF inflows since January, record whale wallet growth, and declining exchange reserves all point toward improving confidence around the asset. However, the next major question is whether this demand can turn into real long-term adoption or whether it only creates another speculation-driven cycle.
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