XRP ETFs Attract $131 Million in May as Bitcoin Funds Bleed for 10 Consecutive Days

A 10-day consecutive outflow from Bitcoin funds indicates weakening institutional demand and suggests that selling pressure may persist in the short term. Technical indicators support this view: although the RSI is in oversold territory at 25, the MACD is negative and below its signal line, pointing to weak momentum. The price trading below both the 20-day and 50-day moving averages confirms a short-term downtrend. However, the RSI being in oversold territory could trigger a potential technical correction or a brief rally attempt, so while the bearish bias is strong, it is not definitive.

XRP is trading at $1.3026, down 2.94% in the past 24 hours, with its RSI at 31.08, approaching oversold territory. The MACD line remains below the signal line and in negative territory, indicating weak short-term momentum. The price is trading below both the 20-day and 50-day moving averages (at $1.3209 and $1.3334, respectively), further weakening the technical outlook. Despite inflows into XRP ETFs, a 10-day streak of outflows from Bitcoin funds suggests declining risk appetite across the broader crypto market. Therefore, downward pressure is expected to persist in the near term, although the RSI nearing oversold levels could signal a potential buying rebound.