XRP leverage hits 2026 high; $1.17 weekly support holds

Traders on Binance increased leveraged positions in XRP. CryptoQuant’s estimated leverage ratio for XRP rose to about 0.1899, the highest reading since early 2026. The token traded near $1.20 as buyers defended the $1.17 weekly support level.

CryptoQuant’s metric had traded between 0.15 and 0.18 for months before the recent rise. The leverage uptick coincided with XRP recovering toward roughly $1.24 and then easing back. Leverage had previously fallen to a yearly low following extreme readings in 2025.

On-chain indicators were mixed. Santiment recorded a sharp spike in XRP social volume from the end of May into early June, one of the largest prints in six months. Active addresses stayed around 28,300 over the past two months. Reported derivatives activity increased faster than spot demand.

Technical indicators on the weekly chart pointed to downside risk. Price has been rejected at a descending trendline three times and XRP broke down from a symmetrical triangle that projects a longer-term target near $0.73. Bulls were defending the 0.786 Fibonacci retracement at about $1.17. The weekly relative strength index sat near 34 and remained below its own descending trendline.

A weekly close below $1.17 would open the path toward the $0.73 target, while a weekly RSI move above its trendline or a clean reclaim of the broken price trendline would change that technical outlook. Higher leverage increases the chance of rapid liquidations. Market participants are watching the next weekly close for confirmation of the price direction.