XRP traders are piling into leverage on Binance, with the estimated leverage ratio reaching 0.1899, its highest since early 2026, according to CryptoQuant. This surge in leverage comes as XRP price hovers around $1.20, recovering slightly from recent lows but remaining 45% below year-ago levels. However, on-chain activity tells a contrasting story: active addresses remain flat at around 28,300, while social volume spiked sharply in late May and early June, indicating sentiment-driven interest rather than organic network demand. The weekly chart shows bearish signals, with XRP rejected three times at a descending trendline and breaking down from a symmetrical triangle, projecting a potential target of $0.73. Key support is at the 0.786 Fibonacci level ($1.17), and a loss could trigger a deeper decline. The RSI near 34 remains below its trendline, and a move above would be needed for a reversal. The combination of high leverage, stagnant on-chain activity, and technical weakness leaves XRP vulnerable to sharp liquidation cascades if support fails.

Key facts

• Binance XRP estimated leverage ratio hit 0.1899, highest since early 2026.
• XRP price trades near $1.20, 45% below year-ago levels.
• Active addresses flat near 28,300; social volume spiked sharply.
• Weekly chart shows triple rejection at descending trendline and symmetrical triangle breakdown.
• Key support at $1.17 Fibonacci level; loss could open path to $0.73.