XRP leverage ratio hits 0.1 — the same level that preceded a 2x surge last cycle!

XRP is trading near $1.40 with Binance's estimated leverage ratio collapsed to approximately 0.1 — a level last seen in late October 2024, when the token was sitting around $0.50. CryptoQuant analysis flags a sharp divergence: price is nearly three times higher than when leverage was last this low, meaning speculative excess has been flushed while the underlying bid holds firm.

The historical precedent is pointed. Between late June and mid-July 2025, a similar divergence resolved violently to the upside — XRP ran from $1.96 to $3.65 as the leverage ratio climbed from below 0.3 to just under 0.6 over four weeks. If fresh capital re-enters and leverage rebuilds now, the $2.00 psychological level is the first target, with mid-2025 highs near $3.65 in view beyond that.

The asymmetry cuts both ways: a price collapse toward $1.00–$1.10 would also resolve the divergence without a squeeze…