XRP Scarcity Index on Binance Hits Highest Level Since Mid-2024, So Where Did the Coins Go?

The XRP Scarcity Index on Binance just printed its highest reading since mid-2024 while the price sits near $1.10, and the tradable supply keeps shrinking.

The price barely moved. That is the strange part. Over the past three days the Binance XRP Scarcity Index climbed to roughly 0.77, a reading the exchange has not printed since mid-2024, according to a CryptoQuant Quicktake published this week.

XRP changed hands near $1.10 while the index kept grinding higher. The two lines used to move together. Not anymore, per the data.

Coins are leaving the shelf faster than buyers are showing up to explain it.

Supply Is Vanishing Faster Than Price Can React

The chart attached to the report was created by ArabxChain on X, and it shows the index flat for a long stretch, sideways, the kind of line nobody screenshots, before turning up hard in recent weeks. The XRP price did not follow at the same pace. CryptoQuant reads that gap as a supply story rather than a price one.

XRP price against the Binance Scarcity Index. Source: CryptoQuant

Deposits may have slowed. Or withdrawals picked up and the coins slipped into off-exchange storage, the report says, either would thin the float. Whatever the mix, the amount of XRP actually sitting on Binance shrank against previous periods.

Something similar is playing out across crypto right now. Fresh CryptoQuant data on Bitcoin showed miners refusing to sell even while active holders nurse average losses near 20 percent.

What a 0.77 Reading Does to Sellers

A rising scarcity index points to reduced potential selling pressure. Less XRP parked on the exchange means less XRP that can hit the bid on an ugly day. The Quicktake is careful here though. The indicator alone does not confirm that any uptrend continues.

Demand decides everything from this point, per the report. If buying strengthens while the float stays thin, the current scarcity could support further upside. If demand stays flat, a tight shelf just sits there being tight.

Holders who pull coins off exchanges rarely plan to sell them soon. That is sort of the whole point of pulling them.

The $1.20 Fight Nobody Has Won Yet

The reading lands in the middle of a separate standoff on the charts, where the XRP price keeps wrestling with the $1.20 level on the two-week candle. Traders have treated that zone as the line that decides the next big move. The scarcity data now sits underneath that fight like a loaded spring, or maybe just a quiet one.

Mid-2024 was the last time Binance looked this dry on XRP, and the token traded in a very different range back then, well before the run to its later highs and the long correction that followed. The index needed over a year to claw back to this level. Three days, apparently, covered the final push.

The post XRP Scarcity Index on Binance Hits Highest Level Since Mid-2024, So Where Did the Coins Go? appeared first on Live Bitcoin News.