On July 27, data from CryptoQuant revealed a subtle shift in XRP investor sentiment based on funding rates for perpetual futures on Binance.
The funding rate climbed back into positive territory, reaching about 0.00138, while the 30-day Z-score stood at 0.21. This suggests that long positions are slowly regaining traction after a period of volatility in mid-July.
Earlier, the funding rate had dipped sharply below zero, signaling a brief dominance of short sellers and growing selling pressure. The recent rebound points to buyers stepping back in, though the market is still close to neutral.
A positive but modest Z-score means the buying interest is recovering, but there is no excessive speculation or overcrowding on the long side yet. CryptoQuant warned that if the funding rate slips back into negative values, it could indicate renewed selling pressure driven by shorts.
Market watchers will be paying close attention to these figures, as further increases could signal expanding momentum for XRP, while declines might hint at fresh weakness.
CryptoQuant’s insight comes amid ongoing discussions about regulatory clarity and market dynamics, topics also touched upon in recent coverage like the Crypto Clarity Act support.
This material is informational and does not constitute financial advice.
