[proofplan]
We prove that the usual contraction inequality is equivalent to a uniform upper bound on all distance ratios. In the forward direction, the contraction constant bounds each ratio because $d(x,y)>0$ whenever $x\ne y$, and the least-upper-bound property then bounds the supremum. In the reverse direction, a supremum bound gives the same inequality for every distinct pair, while the equal-point case follows from the metric identity $d(f(x),f(x))=0$.
[/proofplan]
[step:Convert a contraction constant into an upper bound for the distance-ratio supremum]
Assume first that $f$ is a contraction. By definition, there exists a constant $k\in[0,1)$ such that
\begin{align*}
d(f(x),f(y))\le k\,d(x,y)
\end{align*}
for all $x,y\in X$.
Define the set of distance ratios $R\subset[0,\infty)$ by
\begin{align*}
R:=\left\{\frac{d(f(x),f(y))}{d(x,y)}:x,y\in X,\ x\ne y\right\}.
\end{align*}
This set is nonempty because $X$ contains at least two distinct points. If $x,y\in X$ and $x\ne y$, then $d(x,y)>0$ by the definiteness property of a metric, so division by $d(x,y)$ gives
\begin{align*}
\frac{d(f(x),f(y))}{d(x,y)}\le k.
\end{align*}
Thus $k$ is an upper bound for $R$. Since $\sup R$ is the least upper bound of $R$ in $[0,\infty]$, we have
\begin{align*}
\sup R\le k.
\end{align*}
Taking $c:=k$ gives the required constant $c\in[0,1)$.
[/step]
[step:Recover the contraction inequality from the supremum bound]
Conversely, assume that there exists $c\in[0,1)$ such that
\begin{align*}
\sup\left\{\frac{d(f(u),f(v))}{d(u,v)}:u,v\in X,\ u\ne v\right\}\le c.
\end{align*}
Let $x,y\in X$ be arbitrary.
If $x\ne y$, then $d(x,y)>0$, and the ratio
\begin{align*}
\frac{d(f(x),f(y))}{d(x,y)}
\end{align*}
belongs to the set whose supremum is bounded above by $c$. Hence
\begin{align*}
\frac{d(f(x),f(y))}{d(x,y)}\le c.
\end{align*}
Multiplying by the positive number $d(x,y)$ gives
\begin{align*}
d(f(x),f(y))\le c\,d(x,y).
\end{align*}
If $x=y$, then $f(x)=f(y)$, so the definiteness property of the metric gives
\begin{align*}
d(f(x),f(y))=0=c\,d(x,y).
\end{align*}
Therefore
\begin{align*}
d(f(x),f(y))\le c\,d(x,y)
\end{align*}
for all $x,y\in X$. Since $c\in[0,1)$, this is exactly the definition of $f$ being a contraction.
[guided]
We want to prove that a bound on the supremum of all ratios gives the pointwise contraction inequality. The supremum appearing in the hypothesis is taken over the set
\begin{align*}
R:=\left\{\frac{d(f(u),f(v))}{d(u,v)}:u,v\in X,\ u\ne v\right\}.
\end{align*}
The hypothesis says $\sup R\le c$ for some $c\in[0,1)$. By the defining order property of the supremum, every element of $R$ is bounded above by $\sup R$, and therefore every element of $R$ is bounded above by $c$.
Now fix arbitrary points $x,y\in X$. There are two cases because the ratio is only defined for distinct points. First suppose $x\ne y$. Since $d$ is a metric, definiteness gives $d(x,y)>0$. Therefore the ratio
\begin{align*}
\frac{d(f(x),f(y))}{d(x,y)}
\end{align*}
is a well-defined element of $R$. The supremum bound gives
\begin{align*}
\frac{d(f(x),f(y))}{d(x,y)}\le c.
\end{align*}
Because $d(x,y)>0$, multiplying both sides by $d(x,y)$ preserves the inequality, and we obtain
\begin{align*}
d(f(x),f(y))\le c\,d(x,y).
\end{align*}
It remains to handle the case $x=y$, which is not included in the ratio set. If $x=y$, then $f(x)=f(y)$ because $f:X\to X$ is a map. Applying definiteness of the metric $d$ at the point $f(x)\in X$ gives
\begin{align*}
d(f(x),f(y))=d(f(x),f(x))=0.
\end{align*}
Also $d(x,y)=d(x,x)=0$, so
\begin{align*}
d(f(x),f(y))=0=c\,d(x,y).
\end{align*}
Thus the inequality
\begin{align*}
d(f(x),f(y))\le c\,d(x,y)
\end{align*}
holds for every pair $x,y\in X$. Since the constant satisfies $c\in[0,1)$, this is precisely the contraction condition.
[/guided]
[/step]