XRP’s playing it cool in a tux between $1.38 and $1.40, but the derivatives crowd is whispering that the calm is just the pre-credits for a big, noisy reveal. It’s like a suspense thriller where the lights are on, but the budget went to the punchline instead.
A CryptoQuant analysis by Pelinay shows XRP’s leverage structure is lounging low and sliding sideways, while its price action keeps dancing a tad higher than the leverage-classic mismatch, a divergence that history says tends to explode into a dramatic finale. Grab your popcorn; this is vaudeville with charts.
XRP Holds Up While Leverage Takes a Nap
The CryptoQuant chart shared by Pelinay zooms in on Binance’s estimated leverage ratio for XRP. The real show isn’t merely that leverage is low; it’s that XRP’s price hasn’t collapsed in sympathy. It’s still strutting around near $1.4 as if the floor manager forgot to dim the lights.
The chart shows leverage was much higher during previous acts, especially around the late-2024 price fireworks and the mid-2025 all‑time‑high parade. But today’s leverage has sagged back toward the basement and is sauntering sideways like a bored usher.
The leverage is now back to late‑2024 vibes. Specifically, the Estimated Leverage Ratio on Binance is around 0.1. XRP’s price, however, is holding near $1.4, well above its pre-breakout chatter. Back in October 2024, a 0.1 leverage read with XRP at about $0.50.
Is A Squeeze Brewing for XRP, or Is This a Prank?
What this means in plain folks’ terms is that XRP’s price isn’t being driven by a crowd of aggressive borrowed bets. That’s a relief because it suggests the last of the wild speculation may have already spilled out the window, leaving a more sober kind of drama in its place.
Yet divergences rarely stay quiet for long. The market usually resolves it in one of two ways: the price slides down to match the lower leverage vibe, or leverage climbs again and spins up a bigger price reaction than a soap opera cliffhanger.
The second path-leverage reawakening and feeding a bullish move-is the rosier script. In that storyline, XRP wouldn’t need a overheated derivatives crowd to start its musical number. A similar act 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 XRP surged from $1.96 to $3.65.
Crypto analyst Egrag Crypto arrived at a comparable conclusion through a different lens-the monthly candlestick view. Both analyses hit the same punchline: XRP may look quiet, but the structure is brewing a blockbuster move.
The chart shows XRP compressed between long-term rising macro lines, with the price now perched near the lower part of a wedge structure. EGRAG marks the $0.90 zone as a possible trap, while also sketching a bullish path that could send XRP back above $1.80.
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2026-05-03 22:34