Binance Scarcity Index Crushes XRP Price Momentum
The XRP price has been impacted by Binance's scarcity index, which has hit a 20-month low at -0.94. This reading is down from July's two-year high and indicates that more XRP is available to trade on the exchange.
The scarcity index is based on CryptoQuant data, which shows that the availability of XRP on exchanges has increased significantly since January 2025.
This development could make it easier for traders to sell XRP, potentially putting downward pressure on the price. However, rising open interest can amplify either direction, making the next breakout more consequential and increasing liquidation risk if the price slips.
The current price of XRP is $1.50, just below the $1.52 level that market commentary has identified as important for bullish momentum. The nearest cited support is at $1.47, while resistance is at $1.55. A sustained break above resistance could open a path toward $2, but this remains a conditional target.