Binance's XRP reserves dropped to 2.785 billion by Nov. 12, 2025, signaling rising demand ahead of potential U.S. spot XRP ETF launches.

Binance’s XRP reserves fell to 2.785 billion tokens by November 12, 2025, the lowest in nearly a year, as exchange supply dropped 3.4% since early October. This decline, driven by growing off-exchange demand likely from institutional investors, may signal rising anticipation for U.S. spot XRP ETF launches. Analysts project $4 billion to $8 billion could flow into XRP ETFs within their first year, potentially tightening circulating supply and increasing price volatility. Despite concerns over XRP’s utility and volatility, strong on-chain trends and expanding banking partnerships support a bullish outlook, with a supply crunch potentially fueling rapid price increases if ETFs materialize.