Crypto
XRP Exchange Reserve Swells Past 2.6 Billion Amid Market Downturn
XRP's exchange reserve has surged to over 2.6 billion tokens following its demotion from the top four crypto assets by market capitalization.
The token's price has been unstable amid a consistent market downturn, leading to heightened sell pressure and a significant increase in the amount of XRP available for sale on exchanges, particularly Binance.
As of August 8, the total number of XRP tokens available for sale on Binance had reached 2.61 billion, according to data from CryptoQuant.
XRP's market capitalization has fallen to around $64 billion, causing it to lose its position among the top four crypto assets and pushing it down below stablecoins USDT and USDC.