BEARISH 📉 : XRP funding rates show extreme negative levels across exchanges

XRP derivatives markets are under bearish pressure, with funding rates on major exchanges turning negative. Current data shows the lowest rate at -0.0748%, indicating a dominance of short positions.

Negative funding means perpetual futures shorts are paying longs, suggesting overcrowded short exposure.
This condition can precede sharp rebounds if prices stabilize, as short sellers may need to cover their positions.

XRP

Technical analysis indicates XRP's funding rate is deeply negative, the lowest since late 2022. Historically, prolonged negative funding marked market bottoms, such as during the FTX crash.

Open Interest Trends

Open interest has dropped alongside negative funding, returning to multi-year base levels.
Historically, revisiting these levels has led to rebounds in open interest and price.

XRP's current trading price is $1.49, with key support levels at $1.45 and between $1.15-$1.30. A weekly close above $1.50 could signal a return to bullish momentum.

XRP