Too wet, and probably the grain again. Paper expands across the grain as it takes on moisture and shrinks back as it dries, so if the endpaper's grain isn't parallel to the spine that expansion happens in the direction with nowhere to go.
In order: get the grain parallel to the spine, cut your PVA with paste so it has more open time and less water, and press with waxed paper plus a blotter between the board and the endpaper. Then change the blotter after 30 minutes. That last step is the one people skip, and trapped moisture against the board is what makes ripples permanent.