XRP's exchange supply has plunged 45% in under 60 days, with over 1 billion tokens moved off trading platforms, signaling a major liquidity shift toward institutional custody and long-term holdings. This reduction in readily available supply, coupled with the token's inclusion in new institutional products, sets the stage for increased price volatility. Currently consolidating near $2.05 within a tightening symmetrical triangle, a breakout above $2.12 could trigger a rally, while a drop below $2.00 may lead to short-term weakness.