Overview
- XRP staged a roughly 44–51% rally from early August and then retreated to trade around $1.44–$1.48 after hitting an intraday high near $1.69.
- Binance doubled allowed XRP leverage to 10x on Aug. 21 and the exchange’s Estimated Leverage Ratio climbed to about 0.21, its highest reading since January.
- Derivatives volumes and open interest ballooned with futures 24‑hour volume in the multi‑billion dollar range and open interest near $3.4 billion, far outpacing spot turnover.
- Concurrent flows fed the move as U.S. spot XRP ETFs showed notable trading and modest net inflows, large holders withdrew big XRP sums from exchanges, and active on‑chain addresses spiked over 600%.
- High concentration of long positions, dense liquidation zones near $1.42–$1.55, and stretched momentum mean a break below support could trigger fast, larger losses while a reclaim of $1.50–$1.56 would be needed to stabilize the rally.