XRP's available-for-sale supply on Binance has jumped to 2.61 billion tokens after a week of heavy selling. The token's market capitalization has also fallen to around $64 billion, dropping it out of the four largest cryptocurrencies and behind BNB and the stablecoins USDT and USDC.
The amount of XRP available for sale on Binance has jumped to 2.61 billion tokens as of Saturday, August 8, according to CryptoQuant data cited by U.Today. The surge follows a week of heavy selling that also pushed XRP's market capitalization down to around $64 billion, knocking the token out of the top four cryptocurrencies.
Binance reserve tops 2.61 billion tokens
Exchange activity showed more XRP tokens deposited for sale than withdrawn over the past several days, a pattern tied to the token's rapid price drawdown this week. Sentiment stayed extremely bearish through the week, but XRP may still close it on a stronger note: the token has briefly surged past its recent lows to around $1.04 at the time of the report.
XRP slips to sixth by market capitalization
BNB has taken over the spot, pushing XRP below the stablecoins USDT and USDC to sixth place by market capitalization.
Source: U.Today
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