According to data from CryptoQuant, the estimated leverage ratio for XRP on Binance has climbed to its highest level since the beginning of 2026, reaching approximately 0.1899. The metric, which reflects the degree of leveraged positions taken by traders, had previously fluctuated between 0.15 and 0.18 over the past few months, with several failed breakout attempts before this latest surge.
The rise coincides with a three-day XRP price rally that pushed the token to an intraday high of $1.292 on Monday. As the price increased, traders expanded their leverage, pushing the ratio to a 2026 peak. “Leverage reaching its highest level since the beginning of 2026 could indicate growing trader confidence in the continuation of the short-term upward trend,” noted CryptoQuant analyst ArabxChain.
Alongside the leverage ratio, the Binance XRP Open Interest Z-Score (30-day rolling) also signals heightened derivatives activity. The 30-day moving average of open interest rose to 484.8 million XRP, a four-month high, suggesting liquidity and participation are gradually returning to the futures market.
While elevated leverage reflects bullish sentiment, it also introduces greater sensitivity to volatility. A sudden price move could trigger a cascade of liquidations among both long and short traders. Therefore, monitoring this indicator in coming sessions remains crucial for assessing risk in the XRP market.
