XRP liquidity on Binance has recovered to its highest level in roughly six months, with 30-day turnover reaching about $4.6 billion and the Liquidity Index rising to approximately 0.0675, according to CryptoQuant. The recovery follows a July and August slowdown, when turnover fell to between $2 billion and $3 billion as XRP traded near $1. XRP nevertheless gained about 28.5% in August, its strongest August performance since 2021, while spot U.S. XRP ETF products attracted $153.55 million in monthly inflows. Activity strengthened in September, including on Sept. 11 when more than 91 million XRP entered Binance and over 113 million XRP left, both six-month highs for single-day flows. Binance holdings rose only 0.43% over the week, leaving no clear accumulation or selling signal. Derivatives activity also improved, with the seven-day change in open interest moving from -27% on Aug. 29 to 1% by Sept. 6, although average open interest reached about $476.7 million, just 0.23% above the prior week. XRP is trading near $1.40, above its 20-day EMA of $1.37 and 200-day EMA of $1.33, while its RSI is 55.92. Separate CryptoQuant data put Binance XRP spot volume at roughly $7.28 billion in August, a six-month high, while Upbit and Bithumb also recorded strong monthly totals. The activity across venues supports the view that XRP's liquidity recovery extends beyond Binance. Higher liquidity can reduce price impact for larger trades but does not determine direction, and the latest exchange flows could include internal transfers or market-maker rebalancing. Easing funding rates and two-sided liquidations suggest XRP may remain range-bound in the near term.