XRP Binance Scarcity Index Drops to 0.34, 3-Month Low as Supply Increases

According to Cryptoquant analysis published on June 22, the XRP Binance Scarcity Index declined to 0.34 on June 24, marking its lowest level in more than three months and signaling increased XRP supply availability on the exchange. The metric tracks the relationship between XRP held on Binance and trading demand, with the decline reflecting a relative rise in available supply compared to previous periods.

Meanwhile, Coinglass data shows XRP derivatives traders faced $13.53 million in liquidations over the past 24 hours as of June 24, with long positions accounting for $13.01 million, or 96% of total liquidations.