diff --git a/packages/block-editor/src/components/rich-text/index.js b/packages/block-editor/src/components/rich-text/index.js
index 732b8dbf2c089c..ed53270b679f7a 100644
--- a/packages/block-editor/src/components/rich-text/index.js
+++ b/packages/block-editor/src/components/rich-text/index.js
@@ -334,7 +334,7 @@ export function RichTextWrapper(
 		selectionStart,
 		selectionEnd,
 		onSelectionChange,
-		placeholder: bindingsPlaceholder || placeholder,
+		placeholder: placeholder || bindingsPlaceholder,
 		__unstableIsSelected: isSelected,
 		__unstableDisableFormats: disableFormats,
 		preserveWhiteSpace,
@@ -406,7 +406,7 @@ export function RichTextWrapper(
 				aria-readonly={ shouldDisableEditing }
 				{ ...props }
 				aria-label={
-					bindingsPlaceholder || props[ 'aria-label' ] || placeholder
+					props[ 'aria-label' ] || placeholder || bindingsPlaceholder
 				}
 				{ ...autocompleteProps }
 				ref={ useMergeRefs( [