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XRP (CRYPTO: XRP) scarcity on Binance has hit its highest level since July 2024, but XRP has broken below $1.40 support on high volume as rising Bitcoin (CRYPTO: BTC) dominance draws capital away from altcoins.
The Scarcity Signal
The XRP scarcity index on Binance climbed to around 0.75 in recent days, reflecting a notable decline in available supply on the exchange, according to a CryptoQuant analyst.
The metric suggests an XRP supply shock is likely due to increased withdrawals or a slowdown in deposits.
Historically, such high levels are associated with investor accumulation as assets move to private wallets rather than staying on exchanges.
This reduces the likelihood of …
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