XRP (CRYPTO: XRP) is down 4% on the day, despite Binance leverage ratios plunging 78% from 0.59 in mid-July 2025 to just 0.13 now as speculative positions flush out and the derivatives market resets.

The Leverage Unwind

Binance’s Estimated Leverage Ratio for XRP has collapsed from around 0.59 in mid-July to 0.13, indicating that most highly leveraged positions have been flushed out. 

Analysts calculate this ratio by dividing an exchange’s open interest by its coin reserves to measure average leverage used.

At the same time, XRP’s open interest on Binance stands at only $375 million, significantly lower than peaks recorded over the past year. 

“The main takeaway is that speculative…

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