XRP supply on Binance has expanded, with the XRP Binance Scarcity Index dropping to around 0.34, its lowest level in more than three months, pointing to a noticeable rise in available tokens on the exchange.
Key Takeaways:Cryptoquant data shows XRP exchange availability increased as scarcity metrics weakened.Investors are monitoring Binance liquidity as higher supply can pressure prices.Meanwhile, derivatives markets recorded $13.53 million in liquidations during volatility.
XRP Availability on Binance Expands While Price Remains Under Pressure The analyst stated:
The analysis indicates a clear change from the conditions observed in April and May. During that period, the scarcity index rose to nearly 0.80, signaling tighter supply on the platform before gradually trending downward in recent weeks.
Price Weakness Aligns With Declining Scarcity ConditionsThe analyst added:
