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XRP traded below $1.49 after three daily declines pushed it under $1.50, despite a modest bounce from session lows. CoinGlass data put the long-to-short ratio at 0.975, close to balanced, while the funding rate remained positive at 0.008%. That means longs are paying shorts to hold perpetual futures positions even as spot demand has yet to turn the price higher.
Why it matters
Positive funding reflects appetite for long exposure, but it is not proof that buyers are absorbing selling. CryptoQuant data flagged overheating in XRP spot and futures markets, with sell-side dominance in futures. If the price falls further, leveraged longs could be forced to sell, adding pressure to an already fragile setup.
The long-to-short ratio does not show a decisive market lean: at 0.975, it is near parity. The tension is between traders paying to stay long and sellers retaining the upper hand in futures. A change in spot demand may matter more than another small shift in positioning.
Market impact
XRP held above its 50-day and 200-day EMAs, near $1.365 and $1.369, during the slide. The 100-day EMA sits at $1.307. RSI near 55 and MACD around zero point to cooled momentum and consolidation, rather than a clear breakdown.
The key support zone is $1.37. A sustained break would put $1.30 in focus, with $1.00 a deeper level if support fails again. Reclaiming $1.574 would strengthen the case for a move toward $1.90 and could pressure short positions. Holding $1.37 alone would not confirm a breakout; rising open interest and spot volume would provide additional confirmation.
Frequently asked questions
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What does XRP's positive 0.008% funding rate indicate?
Long traders are paying short traders to hold perpetual futures positions. It signals demand for long exposure, but does not by itself show that spot buyers are overcoming selling.
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Does XRP's 0.975 long-to-short ratio show a strongly bearish market?
No. The ratio is close to 1.0 and indicates near-balanced positioning rather than a decisive lean toward either longs or shorts.
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Why could positive funding increase XRP liquidation risk?
If XRP falls further, leveraged long positions may be forced to sell. That selling could add pressure when futures markets are already showing sell-side dominance.
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Which XRP price levels matter most in the near term?
The $1.37 zone is key support, with $1.30 next if it breaks. Reclaiming $1.574 would strengthen the case for a move toward $1.90.
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What could confirm an XRP breakout if it holds $1.37?
A rise in open interest and spot volume would provide confirmation. Holding support alone would leave XRP in a consolidation phase.
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