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XRP funding rates hit extreme negative levels amid 70% price drop and heavy shorting on Binance

Market News
10 Jul 2026
Blockonomi
View Source
Bearish
pluang ai news

XRP has fallen about 70% since July 2025, with funding rates on Binance turning extremely negative, indicating strong bearish sentiment and heavy short positions. Open interest in XRP futures has dropped to $350.6 million, showing traders are closing leveraged positions, while XRP's market cap declined to $10.89 billion. The high NVT ratio of 162.86 suggests network activity lags behind valuation, reflecting weak demand and cautious market sentiment. Historically, such extreme funding rates after steep drops have sometimes preceded price rebounds, but current market conditions remain uncertain as sellers still dominate.

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