XRP Leverage Ratio Hits 7-Month High on Binance Amid Price Volatility
Binance's XRP derivatives are seeing increased speculative trading activity, with its leverage ratio reaching a seven-month high of 0.1899. This surge coincides with XRP's price fluctuating between $1.24 and $1.48.
Market watchers are cautious about the potential impact of this heightened leverage on XRP's price trajectory. They note that increased speculation can lead to greater price volatility, especially in light of recent announcements from Ripple's CEO and ongoing U.S. SEC regulatory developments.
The maximum leverage for XRP futures was doubled by Binance from 5x to 10x on August 21, which may have contributed to the increase in speculative activity.