crypto.news
$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.