XRP Exchange Supply Drops to 7-Year Low of 1.6 Billion Tokens
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Supply Drop: XRP exchange supply has fallen to 1.6 billion tokens, a significant reduction from 3.76 billion tokens in October, raising concerns about liquidity and market dynamics despite the lack of primary data verification.
- Cautious Market Reaction: The absence of official confirmations from major exchanges like Binance or Ripple has led market participants to question the accuracy of the reported supply drop, necessitating caution in analysis to avoid potential misinformation.
- Historical Context Revisited: This supply decline mirrors patterns seen in 2018, a year marked by similar supply shifts, and while unverified, experts suggest that such circulating scarcity could influence XRP pricing and liquidity, warranting close monitoring by investors.
- Price Dynamics Analysis: XRP is currently priced at $1.87 with a market capitalization of $113.38 billion, having risen 0.53% over the past 24 hours, yet it has seen a 37.14% decline over the last three months, with a trading volume of $1.75 billion, indicating market volatility and uncertainty.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
