XRP Slips Below $1.50 Amid Market Deleveraging

XRP has struggled to maintain support above $1.50 as the derivatives market undergoes a significant adjustment. Between September 22 and 29, open interest for XRP on Binance fell by 15.3%, dropping from $616.1 million to $521.5 million, while the token price declined by only 5.2%. The estimated leverage ratio also decreased from 0.230 to 0.197, indicating a reduction in speculative exposure. Despite this deleveraging, the ratio remains above the six-month average of 0.169.