XRP Scarcity Index Hits -0.94 as Binance Deposits Surge
XRP (XRP)
Editor:
Eugene Serbin
thecurrencyanalytics.com reports that XRP’s availability on Binance has reached its most accessible level since January 2025, with the Binance Scarcity Index dropping to -0.94. This negative reading indicates an oversupply environment, contrasting sharply with the tight-supply conditions seen in July when the index sat at 0.77. Despite the index suggesting high availability, Binance’s actual XRP reserves have fallen by approximately 20% from nearly 3.27 billion in November 2024 to roughly 2.63 billion today.
The discrepancy arises because daily deposits have surged by 663% above the quarterly average, creating a high churn of tokens that enter and leave the exchange rapidly. This activity has kept net reserves relatively stable at a 0.22% change, driven by arbitrage plays and short-term trading rather than long-term accumulation. The buy-to-sell ratio currently stands at 0.94, giving sellers a slight edge, though the market has not yet panicked.
XRP is trading around $1.49, having touched $1.56 earlier in the session, and remains up nearly 10% over the past month. The source notes that while accessible supply poses a sell risk, the current setup is a caution flag rather than a confirmed sell-off signal.
How the market reacted
Whalio's own Binance spot order flow for XRP, measured when this story was written up on 1 October 2026. Not the outlet's figures.
Whalio’s spot data shows a mixed immediate reaction, with the 1-hour buy ratio at 54.6% and the 4-hour ratio at 58.4%, indicating short-term buyers are currently outpacing sellers. However, this bullish intraday sentiment contrasts with the 24-hour buy ratio of 47.9%, where sellers hold the majority share. Volume deltas reinforce this divergence, showing positive inflows of +$504,605 over the last hour and +$3,342,315 over four hours, while the 24-hour delta sits at -$9,517,118. This negative 24-hour delta, matching the Cumulative Volume Delta (CVD) close, suggests that despite recent buying pressure, the broader daily trend remains net selling. The data indicates that while short-term traders are stepping in, the overall volume flow over the full day has been dominated by liquidations or sell-side execution.
The latest daily buy ratio of 50.6% sits at the 83rd percentile of the last 322 days, against a median of 48.5% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for XRP, averaged over the days leading up to the story.
Compared to the preceding week, today’s activity represents a shift in momentum but not necessarily volume intensity. The 24-hour buy ratio of 47.9% is slightly lower than the 7-day average of 48.7%, indicating that today’s selling pressure is marginally heavier than the weekly norm. Volume activity also cooled relative to the average, with current trading at 0.70x the typical weekly volume. While the weekly delta showed a total outflow of -$31,854,336 over eight days, today’s single-day outflow of -$9,517,118 accounts for a significant portion of that weekly trend. This suggests that while the immediate hourly flow turned positive, the broader weekly context remains one of net distribution and reduced participation.