By default drag cue positioning logic includes setting the position according the relative click point. It uses it whenever the click point is within the boundaries of the the opened drag cue. However, if the drag cue is smaller than the element being dragged and drag starts outside the drag cue bounderies the cue is positioned.
Please, check the attached project demonstrating the behavior and let me know if this helps in your case.
All the best,
the Telerik team
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