XRP’s estimated leverage ratio on Binance has returned to levels last seen in early 2024. Crypto analyst Xaif (@Xaif_Crypto) highlighted the shift, noting CryptoQuant data showing the ratio declining sharply after a massive run-up during the 2025 bull cycle.
The chart tells a clear story. From mid-2024, the estimated leverage ratio sat compressed between roughly 0.05 and 0.15. Then, heading into late 2024 and early 2025, it surged, matching XRP’s explosive rally.
Xaif noted the leverage climbed +790% during this rise, with XRP’s price reaching above $3 at its peak. The ratio hit approximately 0.40 near the top before beginning a sustained decline.
🚨 $XRP leverage on Binance just quietly deflated to levels not seen since early 2024 📉
Meanwhile leverage was up +790% during the 2025 pumpTranslation: the froth is GONE. Weak hands flushed out. This is usually when the real move starts 👀 https://t.co/PilQrEBaQe pic.twitter.com/0wXTt8lFHX
— Xaif Crypto (@Xaif_Crypto) July 17, 2026
What the Chart Shows
The CryptoQuant chart tracks XRP’s price and the 30-day EMA of the estimated leverage ratio. Both moved in tandem during the 2025 rally and have since pulled back, with the EMA closely matching XRP’s extended decline.
The leverage ratio has now returned to approximately 0.15, aligning closely with the red horizontal support band visible on the chart. XRP’s price currently sits around $1.10. That red band on the chart represents a historically significant floor. The leverage ratio has now retested it, after spending much of the past year well above it.
Xaif’s Reading of the Data
Xaif interprets the leverage decline as a sign of market cleanup. In his post, he stated that weak hands have been flushed out. He sees the current compression as a setup, adding, “This is usually when the real move starts.”
The logic follows a recognizable pattern in derivatives markets. High leverage during a price rally creates fragile positioning. When price reverses, those positions get liquidated, leverage drops, and the market thins out. What remains is a less crowded, more stable base.
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Where This Leaves XRP
Xaif’s analysis does not predict a specific price target, but the structure he highlights is notable. The leverage ratio returning to early 2024 levels means the speculative excess that built up during the climb in 2024 and 2025 has largely cleared.
XRP is currently holding above support. The EMA on the leverage ratio has flattened, which historically precedes a period of renewed accumulation or directional movement. Xaif’s position is that the cleanup phase has run its course. He expects a big upward move to follow.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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