XRP Supply on Binance Is the Highest Since January 2025. Is That Why XRP Is Stuck at $1.50?
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The amount of XRP (CRYPTO:XRP) available for trading on Binance has surged to its highest level since January 2025, according to on-chain data firm CryptoQuant. On September 30, the XRP Scarcity Index for the exchange dropped to −0.94, leading traders to wonder whether this increased supply on Binance is contributing to XRP’s inability to climb much past $1.50.
As of October 2, 2026, XRP is trading at approximately $1.52, making it the only major cryptocurrency to decline over the past week, down by about 0.2%. In contrast, Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) each gained about 2%, while Solana (CRYPTO:SOL) rose about 5%.
Binance Holds Less XRP Overall, but More Is Ready to Trade
The scarcity index measures how much XRP is available for trading on Binance compared to historical levels. A high score indicates that XRP is scarce on the exchange, while a low score indicates a surplus. Recently, this index shifted dramatically, falling from 0.77 in July—its highest level in nearly two years—to −0.94 at the end of September.
Even so, the total volume of XRP held by Binance has decreased by about 20% since November 2024, even after whales transferred 3.8 billion XRP to Binance earlier in 2026. This drop suggests that while less XRP is available on the exchange overall, more has moved from cold storage into trading wallets, making it easier to trade.
XRP Ready to Sell on Binance Is Not the Same as XRP Being Sold
Having more coins ready for trading makes it easier to sell, but it still requires sellers to place orders and buyers to make purchases. The scarcity index only reflects the first part of this equation and doesn’t account for actual sales activity.
Additionally, exchanges hold XRP for purposes other than selling. Market makers—companies that help facilitate trades by posting buy and sell orders—also need access to coins. Furthermore, traders often post XRP as collateral for loans and leveraged positions. Therefore, the increase in tradable XRP might reflect market makers boosting liquidity rather than sellers preparing to offload their coins.
Traders Rotated Into Chainlink, Sui and Hedera While XRP Slipped
A clearer explanation for XRP’s recent struggles lies in the performance of smaller coins. Over the past week, Chainlink (CRYPTO:LINK) rose about 8%, Sui (CRYPTO:SUI) jumped about 18%, and Hedera (CRYPTO:HBAR) gained about 13%. This shift suggests traders are seeking quicker profits by moving into smaller cryptocurrencies.
To sell XRP, traders must first transfer their coins to a trading wallet. This extra step reduces Binance’s scarcity reading and can also weigh on XRP’s price. Both indicators may stem from the same trend of traders rotating into smaller coins.
Evernorth Lists on Nasdaq on October 8 With 473 Million XRP
The next significant event comes on October 7, when Evernorth’s merger with Armada Acquisition Corp. II is scheduled to close, following shareholder approval on September 30. Evernorth plans to list on Nasdaq under the ticker XRPN on October 8, bringing with it approximately 473 million XRP, valued at about $719 million.
However, because Evernorth already holds these tokens, this listing won’t initially add new buying pressure. The 473 million XRP represents less than 1% of XRP’s total market value of $96 billion, so any fresh demand will come from investors buying more XRP.
Is Binance Supply Why XRP Is Stuck at $1.50?
Overall, while XRP’s supply on Binance helps explain why the price is stuck near $1.50, it is only part of the picture. More XRP is now ready for trading, but Binance holds less XRP than it did in late 2024. The rotation of investor interest into smaller coins is driving both the increase in available supply and XRP’s sluggish performance.
Whether the increased supply on Binance is truly holding XRP’s price at $1.50 will become clearer after Evernorth lists on October 8. If the scarcity index rises back toward zero following the listing and coins start to leave trading wallets, the supply concerns may ease. However, if XRP falls below $1.50—around 1% lower than its current price—while the scarcity reading stays significantly negative, then the supply on Binance might indeed be contributing to increased selling pressure.
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Sam Daodu is a crypto analyst and the editor of 24/7 Wall St.'s Crypto Desk, where he covers Bitcoin, XRP, Ethereum, Solana and the altcoins investors search for most. His work focuses on price levels, spot ETF flows, on-chain data and the regulatory decisions that move crypto markets, written so a first-time buyer and a seasoned trader can both use it.
Sam has written about crypto professionally since 2019 and has published more than 2,000 articles. Before joining 24/7 Wall St., he wrote for crypto media outlets and Web3 companies and ghostwrote for crypto founders and token launches. His analysis is syndicated on Yahoo Finance, MSN and AOL and has been cited by other crypto news sites. He also founded MacLabs Marketing, a content and personal branding agency for crypto founders and executives.
When he isn't reading charts, Sam is usually at the gym or watching One Piece, a series he maintains has better tokenomics than most altcoins.
