October 2nd 2026, 2:30 PM
XRP Supply on Binance Hits 2025 High, But Why Is XRP Stuck?
Key Summary
XRP's XRP supply on Binance has reached its highest level since January 2025, with the XRP Scarcity Index plummeting to -0.94 in September, indicating a significant surplus of XRP available for trading. Despite this, XRP's price has remained stagnant at around $1.52, with the cryptocurrency being the only major one to decline over the past week. In contrast, Bitcoin and Ethereum gained around 2%, while Solana rose about 5%. The surge in supply on Binance is unlikely to be the primary reason for XRP's price stagnation, with traders instead attributing it to the rotation into other cryptocurrencies such as Sui, Hedera, and Chainlink.
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XRP Supply on Binance Hits 2025 High
XRP is the only major cryptocurrency down this week, and on-chain data from Binance may explain why. But the real reason traders are watching closely has less to do with supply and more to do with what happens when Evernorth goes public on October 8.Traders Focus on Evernorth IPO
The upcoming IPO of Evernorth, a financial services company backed by Binance, has traders speculating about its potential impact on the cryptocurrency market. With XRP being the only major cryptocurrency down this week, many are wondering if the supply concerns on Binance are the real reason for the recent price stagnation.#XRP#Binance#Evernorth#IPO#Crypto