XRP price dips 5% as Binance leverage hits seven-month high
XRP price fell about 5.36% to near $1.44 on Aug. 26, even after a strong weekly rally that left it still up roughly 43.7% on the week. The pullback coincided with derivatives risk building: Binance’s estimated XRP leverage ratio reached ~0.21, the highest since January, according to CryptoQuant.
Futures activity also intensified. XRP futures volume hit about $6.4 billion in 24 hours, more than five times the reported spot volume (~$1.2B). CoinGlass data showed elevated open interest near $3.45 billion, while positioning remained net-long: Binance had around 2 long accounts per short account, and top traders were closer to a 3:1 long-to-short ratio; OKX showed nearly 2:1.
On spot and ETF flows, the article notes Bitwise’s XRP ETF trading above $80 million on its strongest recent session, with share turnover not automatically equal to new inflows. U.S. spot XRP ETFs were cited with combined net inflows of about $13.8 million on Aug. 24, as part of cumulative net inflows reaching ~$1.56 billion.
Technically, XRP’s daily RSI reached 74.29 (overbought), suggesting momentum is stretched though MACD remains bullish. Near-term resistance is flagged at $1.45–$1.50 and then ~$1.56; support sits around the $1.42 24-hour low. If XRP breaks below it, the article warns liquidations could accelerate declines given concentrated long exposure.
Bearish
XRP is trading lower while leverage is at a seven-month peak. That combination typically increases liquidation risk when price fails to reclaim nearby resistance. The article highlights net-long concentration (long accounts outnumber shorts by a wide margin) and large futures volume versus spot, which historically can amplify downside if support breaks. While RSI is overbought and MACD remains bullish (a potential sign the uptrend is not fully broken), stretched momentum often invites profit-taking—so the near-term skew is more to the downside.
In similar past setups, when exchange-measured leverage rises quickly during a rally and price then slips below the latest intraday support, forced deleveraging can turn a “dip” into a faster, deeper move. Longer term, ETF turnover and reported (spot ETF) net inflows can still provide a bid, but traders usually watch first for whether XRP can hold $1.42 and reclaim $1.45–$1.50 to reduce liquidation pressure.