XRP Leverage Ratio Hits Seven-Month High as Futures Volume Surges

XRP's derivatives market has seen a significant surge in activity, with its leverage ratio hitting a seven-month high of 0.213 after a 44% weekly rally.

The XRP leverage ratio on Binance has increased to approximately 0.213, the highest reading since January, according to data from CryptoQuant.

This comes as futures volume hit roughly $6.4 billion in 24 hours, more than five times the roughly $1.2 billion traded on spot markets.

The spike in leverage ratio and open interest of $3.45 billion has raised concerns about a potential squeeze for long positions, with analysts warning that crowded longs can get squeezed quickly.