#XRP chart shows something structurally important that most people are missing while focused on the price collapse alone. Price fell from roughly $3.25 in mid-2025 down to about $1 now, a brutal decline. But Binance's $XRP reserve has stayed remarkably stable through nearly the entire move, sitting around 2.62B tokens, barely off its 2025 range of 2.75B to 3B. That divergence matters. In a typical capitulation, falling price and falling exchange reserves move together, holders panic-sell, coins leave wallets, reserves drop as tokens get liquidated into the market. Here, price cratered while reserve supply on the exchange barely budged. Two explanations fit this pattern. Either the sellers driving this decline aren't pulling from exchange-held supply at all, meaning the selling pressure is coming from elsewhere, OTC, unlocks, or other venues not captured in this chart. Or exchange holders are simply sitting still, neither accumulating nor distributing, while price gets pushed down by thinner order book activity than the reserve number would suggest. The 2024 chart offers a useful contrast. Reserves jumped sharply in early 2024 alongside price recovering, coins flowing onto Binance ahead of demand. Nothing comparable is happening now on the way down, no reserve spike signaling forced liquidation, no reserve drain signaling accumulation. That stagnant reserve line during an active price crash is the real story here. It suggests conviction on Binance specifically hasn't shifted much either way, holders aren't fleeing and they aren't loading up. The selling pressure crushing price is happening somewhere the reserve chart doesn't capture. Worth tracking whether that 2.62B level eventually breaks, since a genuine move off that plateau in either direction would be the first real signal since this decline started. #XRP #BTC Price Analysis# #Altcoin Season#