XRP Price Drops 5.36% as Leverage Hits Seven-Month High

XRP's price has fallen by 5.36% over the past 24 hours, dropping to $1.44 as traders adjusted their exposure after a strong weekly rally.

The token had surged from around $1 in early August to an intraday high of nearly $1.69 on August 22, but it retreated towards its current price.

According to CryptoQuant data, the estimated XRP leverage ratio on Binance reached 0.21, its highest level since January, as futures trading volume exceeded $6.4 billion and spot activity was significantly lower at $1.2 billion.