XRP Exchange Supply Ratio on Binance Hits Two-Year Low, CryptoQuant Reports

Data from CryptoQuant shows XRP's supply ratio on Binance has fallen to 0.025, a level last seen in early 2024 when prices ranged between $0.50 and $0.60.

XRP

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Terms & Concepts
  • Exchange Supply Ratio: A metric showing the proportion of a cryptocurrency's supply held on exchanges relative to its total circulating supply, often used to gauge potential sell pressure.
  • Binance: One of the world's largest cryptocurrency exchanges, offering trading services for hundreds of digital assets.
  • CryptoQuant: A blockchain analytics platform providing market data, indicators, and metrics for cryptocurrencies.