XRP may be approaching an interesting turning point in its price outlook, and that signal is currently coming from the derivatives market.
Cryptoquant data shows that XRP funding rates on Binance have fallen deep into negative territory, while the price is trading between $1.35 and $1.50.
This generally means that traders are heavily biased towards bearish expectations.
But these parameters sometimes reflect expectations; When too many traders engage in the same short trade, the market generally tends to move in the opposite direction.
Funding rates indicate who pays who in the futures market.
When the rate becomes significantly negative, it means short sellers pay extra to continue betting against the rate. In other words, the market is full of bearish positions.
If the price of
Analyst Darkfost points out that this pattern has already happened; Periods of extremely negative funding rates are often followed by short-term surges in XRP when sentiment becomes too one-sided.
XRP Price Forecast: Could This Strong Signal Cause a Reversal?
If bearish positions continue to prevail and funding rates remain deeply negative, the market could become vulnerable to a short liquidation that would force traders to quickly liquidate their positions.
XRP price is currently trading in a tight range and the chart shows a classic price squeeze.
The price is oscillating between the support level at $1.30 and the resistance level at $1.50, with progressively lower technical highs recorded. This structure is very similar to a descending triangle pattern, a pattern that usually appears before a large move.
Currently, the key level is $1.50. XRP has tested this zone several times but has not yet managed to break through. If the breakout ultimately occurs, the move could lead to the liquidation of short positions hinted at by the derivatives data.
In this case, the next levels to watch will be around USD 1.61, then USD 1.90, with the possibility of reaching USD 2.20 if the momentum strengthens.
As for the decline, the USD 1.30 level remains the safety valve. Where buyers have defended it time and time again. If this level is broken, the technical structure will collapse and the chart will likely head towards the support zone at $1.12.
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The article XRP Price Forecast: Binance Data Shows Strong Signal: What is Happening? appeared first on Cryptonews Arabic.
