XRP Scarcity Index Plunges to 3-Month Low on Binance

The XRP scarcity index on Binance has reached its lowest level in over three months, signaling a significant increase in available tokens on the exchange.

Cryptoquant data shows that the XRP Binance Scarcity Index has dropped to around 0.34, indicating a notable rise in XRP supply on Binance compared to previous periods.

The scarcity index tracks the relationship between the amount of XRP held on Binance and trading demand, offering insight into how limited or plentiful the asset is on the exchange.

XRP's price has moved closer to its recent low of $1.13, reflecting ongoing weakness in the market that began earlier this month.