$XRP repriced sharply, but the move wasn’t driven by exchange supply. Price hit $1.396 on Aug 29, while Binance OI peaked at $558M before easing to $483M. Binance inflows averaged just 136K XRP/day, while reserves stayed flat at $2.618B. Derivatives did the heavy lifting: funding hit 0.006 and leverage rose to 0.193. Now funding has cooled to 0.002 and OI is down 13%, while exchange-bound transfers remain suppressed. If reserves stay flat, XRP may build a base; rising reserves would raise retracement risk. #XRP #Ripple #OnChain