XRP Leverage Collapses 78% On Binance – The Crowded Trade Has Been Cleared

XRP's Estimated Leverage Ratio on Binance has collapsed 78% amid renewed selling pressure, with XRP trading below $1.40. The significant deleveraging cycle indicates that highly leveraged long positions have been cleared out of the market.

• →XRP is trading below $1.40 after weeks of consolidation gave way to selling pressure.
• →Binance derivatives data shows XRP's Estimated Leverage Ratio collapsed 78%.
• →A significant deleveraging cycle has cleared out crowded long positions.
• →The derivatives market is revealing underlying weakness not visible in spot charts.
• →CryptoQuant analyst identified this as an unusually large magnitude deleveraging event.