Binance XRP scarcity index at a four-year high: XRP price prediction ahead of the weakest weekly close since August

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: XRP is scarcer on Binance than at any point in four years, with CryptoQuant's scarcity index at 2.1. Yet the US spot ETFs took in nothing for an entire week, and at $1.16 XRP is heading for its lowest weekly close since August.Coins leaving the exchange: XRP is scarcer on Binance than at any point in four years.Add as a preferred source on GoogleFollow on Google NewsXRP trades at around $1.16 on Sunday morning, roughly €1.05, and is heading for its weakest weekly close since mid-August. At the same time XRP is scarcer on the world's largest exchange than it has been for four years: the scarcity index that the analytics firm CryptoQuant calculates for XRP on Binance has climbed to 2.1. What is documented: on November 4, 418.5 million XRP left Binance, the US spot ETFs did not record a single day of net inflows in the entire first week of November, and the price has lost almost 7 percent since Monday. Our assessment follows further down. A shrinking exchange supply lifts...