[DigitalToday reporter Yoonseo Lee (이윤서)] About 35 million XRP left exchanges in just one day, raising the possibility of additional gains in May.

On April 25 (all times local), blockchain media outlet Cointelegraph reported that exchange outflows over the past 24 hours on the XRP Ledger (XRPL) were the sixth-largest this year.

Rising exchange outflows are interpreted as investors moving tokens to private wallets or custody. That reduces the amount of supply that can be sold immediately on the market, which is supportive for short-term supply and demand. Similar outflow surges this year appeared several times ahead of price rebounds.

In March, XRP rebounded about 20 percent after a similar outflow. After a surge in outflows in February, the rise grew to about 48 to 50 percent. Given those precedents, some expect the latest expansion in outflows could also lead to a price rise in May.

Institutional demand is also increasing. SoSoValue data showed U.S. XRP spot exchange-traded funds (ETFs) recorded net inflows for a third straight week as of April 25, with cumulative inflows totaling about $82.88 million. Total assets under management rose to $1.1 billion. Steady inflows into ETFs suggest institutional investors' demand for XRP exposure is continuing.

Large investors have also shifted toward accumulation. CryptoQuant data showed the 90-day moving average of XRPL whale wallet flows stayed in negative territory for a significant period in early 2026, then started to rise above the zero line again. That signals large wallets have moved from distribution to accumulation. In the past, periods when whale flows turned positive were followed by stronger price action, such as the rally from May to July 2025.

Technical trends are also supporting a bullish scenario. XRP's dollar price has moved within a falling wedge pattern over the past two years. An analysis said it rebounded in April from support on the lower trendline, increasing the chance of a move back toward the upper boundary.

The target area is around $1.87 to $1.89, where the 50-week exponential moving average overlaps with the 0.5 Fibonacci retracement. That is about 30 percent above the current level. The article presented this zone as an upper target area through June.

Still, the bullish outlook is not certain. If the lower trendline of the falling wedge breaks clearly, the bullish scenario could lose strength. In that case, XRP could also slide toward around $0.98, where the wedge convergence endpoint aligns with the 0.786 Fibonacci area.

Ultimately, the XRP market is seeing three supply-and-demand signals converge with a technical rebound zone: exchange outflows, net ETF inflows and a shift in whale accumulation. Whether a renewed spike in exchange outflows acts again as a precursor to a short-term rally, as in February and March, is emerging as a key variable for XRP's direction in May.