The decrease in XRP exchange reserves does not necessarily indicate buying pressure or long-term holding, as funds may also be moved or transferred to custody. XRP has demand as a settlement and liquidity bridge asset. It also has demand as a financial asset or collateral held by institutional investors. If both of these demands grow simultaneously, XRP’s supply and demand structure will shift in ways unlike anything we’ve seen before. Beyond price, what matters is where XRP is used, who holds it, and how it integrates into financial infrastructure. I believe XRP’s true value will only become clear within the financial system being built from here on out.