- CryptoQuant analysts have carefully studied calculated leverage ratio on Binance for XRP.
- They indicate that the correction phase is not yet complete.
Leverage ratio XRP continues to decline, even though the price remains above the psychologically important $1,35 mark.
Data, analyzed by CryptoQuant, show that the calculated leverage ratio on Binance is approximately 0,152.
Calculated leverage XRP Ledger on Binance. Source: CryptoQuant
This figure is slightly above the 0,132–0,150 range typical for late March and early April, but is still in a zone more typical for late 2024.
A lack of interest in using leverage combined with stable prices usually precedes a sharp directional move.
If buying pressure increases, XRP could show significant growth as capital returns and the market becomes accustomed to leverage. However, a decline is also possible, especially if the market weakens.
Overall since the beginning of the year XRP is in a downtrend, and some indicators indicate that the correction phase is not yet complete.
However, over the last 24 hours the rate XRP rose 2% to $1,39, driven by Bitcoin’s rise above $78,000, which has risen 2,5% over the same period.
Thus, the dynamics XRP largely driven by the beta coefficient. In the absence of clear macroeconomic factors pointing to possible causes, the price XRP was more reactive than proactive.
Altcoin Season Index fell 7% to 38, indicating capital outflow from altcoins. For this reason, the technical situation with XRP doesn’t look optimistic: token remains trading below its 7-day simple moving average (MA) at $1,40, with trading volumes down nearly 30%.
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