An analysis said institutional money and on-chain indicators are improving even as XRP extends its weakness.

On May 21, blockchain media outlet The Crypto Basic reported that Jake Claver (제이크 클레이버), chairman of Digital Ascension Group, said the current XRP price range could later prompt reactions of "I should have bought then."

Claver said XRP is trading about 60 percent below its 2025 peak, but momentum continues to strengthen. He cited expanding tokenisation of real-world assets (RWA), inflows into spot XRP exchange-traded funds (ETFs), growth in institutional custody infrastructure and rising accumulation by large wallets.

He said the XRP Ledger now has more than $3 billion in tokenised real-world assets. That figure has risen 59 percent in a month. Claver said the XRP ecosystem is moving forward regardless of price moves.

Spot XRP ETF flows were also cited. Cumulative inflows were tallied at about $1.35 billion, and nearly $26 million in net inflows came in on May 11 alone. Claver said the trend signals continued institutional demand through regulated investment vehicles.

Ripple's expansion of its institutional business was also mentioned. Prime brokerage subsidiary Hidden Road recently secured a $200 million asset-backed debt facility from Neuberger Berman. Claver assessed the deal as material that strengthens its position in institutional trading markets.

He also included the spread of Ripple's dollar-pegged stablecoin RLUSD. RLUSD is being integrated into crypto exchange OKX and AMINA's banking platform, widening adoption within institutional financial networks. BNY Mellon will custody the reserve assets. Claver said these developments support Ripple's institutional infrastructure business.

He said on-chain data also show signs of cumulative buying. Wallets holding 10,000 XRP or more stand at 332,230, and concentration among large wallets has reached an all-time high even amid relatively weak market action. He compared it to past accumulation phases in bitcoin and ether, when a similar gap emerged between price and fundamentals.

Expansion outside the United States is also continuing. Ripple is expanding partnerships, remittance businesses and regulatory responses in Japan, the Middle East, Africa and Europe. Claver cited the possibility of passage of the U.S. Clarity bill and SBI Holdings' expanded participation in the XRPL ecosystem as additional upside material.

Still, the market price remains sluggish. XRP is trading around $1.37 and is down more than 60 percent from its previous all-time high. While the price remains weak, Claver said, "infrastructure, institutions and whale activity are building in the background," and could become the basis for a sharp rebound later.

Claver also said investors often recognise accumulation opportunities only after prices surge. He said many investors may ultimately look back and think they should have bought then, and described the current phase as one where price stagnation and weak retail sentiment coincide with a strengthening institutional base. The analysis said XRP's future direction could be driven more by inflows and the pace of infrastructure expansion than by short-term price moves.

From the outside they look identical too...just later People say "I should have bought back then" I believe you are in that window right now 19/20