XRP is trading in a quiet range between $1.38 and $1.40, but new derivatives 
data indicates the calm may be masking a more unstable setup beneath the 
surface. A CryptoQuant analysis by Pelinay shows that XRP’s leverage structure 
is low and moving sideways, while its price action has been relatively higher 
than the leverage, and this has created a divergence that history has shown to 
resolve through a forceful explosive move. Related Reading: Bitcoin’s Path To 
$100K May Happen Before Anyone Understands Why: Analyst XRP Holds Strong 
Despite Sharp Decline In Leverage Ratio The CryptoQuant chart shared by 
Pelinay focuses on Binance’s estimated leverage ratio for XRP. The most 
important signal that the chart is showing is not simply that leverage is low, 
but that XRP’s price has not collapsed alongside it. The chart shows that 
leverage was much higher during previous phases, particularly around the major 
price expansion in late 2024 and the push to new all-time price highs in 
mid-2025. However, the current leverage ratio has fallen back near the lower 
end of its range and is moving sideways. The leverage is now back to late 2024 
numbers. Particularly, the Estimated Leverage Ratio on Binance is now around 
0.1. The XRP’s price, however, is still holding close to $1.4, which is well 
above its price levels seen before its late-2024 breakout. Back in October 
2024, a leverage ratio of 0.1 corresponded with an XRP price of just $0.50. 
XRP Estimated Leverage Ratio On Binance. Source: CryptoQuant Is A Squeeze 
Coming For XRP? What this means in essence is that the XRP price is no longer 
being pushed mainly by aggressive borrowed positioning. That can be important 
because it suggests that much of the excess speculation has already been 
flushed out. However, this type of divergence rarely stays unresolved for 
long. The market usually deals with it in one of two ways. Price can fall to 
match the lower leverage environment, or leverage can begin rising again and 
feed a stronger price reaction. The second outcome is the more bullish 
scenario. In that case, XRP would not need an already overheated derivatives 
market to begin its move. A similar move happened between late June and mid- 
July 2025, when the leverage ratio climbed from below 0.3 to just under 0.6 in 
four weeks, and over that same period XRP surged from $1.96 to $3.65. Related 
Reading: US CLARITY Act Moves Closer To Law After Surprise Stablecoin Yield 
Update Crypto analyst Egrag Crypto arrived at a similar conclusion through an 
entirely different framework using the monthly candlestick timeframe chart. 
Both analyses point to the same idea: XRP may look quiet, but the structure is 
brewing for a violent move. XRP Price Chart. Source: @egragcrypto The chart 
shows XRP compressed between long-term rising macro lines, with the price now 
situated around the lower part of a wedge structure. EGRAG marked the $0.90 
region as a possible trap zone, while also showing a bullish path that could 
send XRP back above $1.80. Featured image from Unsplash, chart from 
TradingView

Calm Before A Major Move: XRP Leverage Flush Points To Possible Squeeze

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Calm Before A Major Move: XRP Leverage Flush Points To Possible Squeeze

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