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$XRP traders are showing stronger risk appetite on Binance as funding rates move higher. The shift comes as large holders continue to buy the dip, even as $XRP trades below its recent April high.
CryptoQuant analyst Arab Chain said $XRP’s 30-day average funding rate on Binance has reached 0.0002. This marks its highest level since early February.
Funding rates had stayed negative for months and fell as low as -0.0007. That period showed stronger short positioning and weaker confidence among derivatives traders.
Long positions gain momentum
The move into positive territory suggests more traders are opening long positions. The 30-day moving average also helps filter short-term market noise.
Arab Chain said the rise may show a broader change in trader behavior. It could point to early accumulation or continued upside momentum if demand holds.
$XRP whales have also increased their holdings during the recent price pullback. Wallets holding 10 million to 100 million $XRP bought 420 million tokens.
Addresses holding at least 1 billion $XRP added another 730 million $XRP. Together, these groups acquired 1.15 billion $XRP in 11 days.
$XRP price remains under pressure
According to crypto.news data, $XRP traded at $1.37 at the time of reporting. The token fell 1.22% in 24 hours and 3.66% over the past week.
The price has also corrected nearly 10% from its April 17 peak of $1.51. $XRP’s market cap stood at about $84.42 billion, with 62 billion tokens in circulation.
Santiment also reported that $XRP has reached its second-highest bullish social sentiment in two years. The firm linked part of the rise to Rakuten’s $XRP integration in Japan.
However, Santiment said adoption news does not often trigger instant price breakouts. It noted that market moves may appear after the first wave of excitement cools.
coindesk.com
ambcrypto.com