Despite extending its October downturn into November 2026, XRP has shown strong investor interest according to recent on-chain analytics.
The XRX Binance Scarcity Index, which assesses liquid supply constraints on the leading cryptocurrency exchange by daily volume, has jumped to 2.1, marking its highest point since 2022.
XRP Binance Scarcity Index. Source: CryptoQuant
After a prolonged negative trend in September and October 2026, this metric has experienced a notable resurgence, breaking into positive territory and indicating one of the most significant upward shifts observed in the last four years.
As a consequence, the XRP Ledger: Exchange Reserves on Binance, 30-day Simple Moving Average (SMA), has plummeted to a new multi-year low. Currently, the XRP reserves on Binance (SMA 30) sit at approximately 2,602,104,093 tokens, a decline from 3,293,564,370 tokens recorded a year ago, according to data from CryptoQuant.
XRP reserve on Binance (SMA 30). Source: CryptoQuant
Historically, such a drop in available tokens on Binance has often foreshadowed the onset of a robust upward trend.
XRP Price Trends and Forecast
As XRP supplies on Binance continue to decrease, the coin’s value has experienced a decline of over 18% within the last month, currently trading around $1.23. This has resulted in a market capitalization near $78.1 billion.
Token’s performance on Thursday. Source: CoinMarketCap
As of the latest update, XRP’s 24-hour average trading volume has dropped by more than 19% to $2.43 billion.
Despite the recent downturn, analyst Ali Martinez suggests a possible bullish rally could push prices towards $2.1, particularly if the resistance at $1.6 is surpassed.
The increasing scarcity of XRP on Binance is positioned to foster positive market sentiment.
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