XRP Up 27% Despite Three Months of Negative Funding Rates

Since early February, XRP has seen a 27% increase, yet negative futures funding rates have persisted for almost three months, as reported by CryptoQuant. Analyst Darkfost highlighted that Binance's 30-day aggregated funding rates have been in a bearish trend for an extended period. The Total3 index, which excludes Bitcoin, Ethereum, and stablecoins, dropped over $544 billion before bouncing back by approximately $125 billion. XRP rebounded from $1.12 in February, fluctuating between $1.30 and $1.50 through March and April, peaking at $1.48 in early May before stabilizing around $1.42–$1.43. CoinGlass indicates a 24-hour futures volume of $3.79 billion against a spot volume of $682 million, with open interest at $2.89 billion. Long/short ratios on Binance and OKX suggest retail traders favor longs in shorter durations, yet overall funding remains negative. Key resistance levels are between $1.50 and $1.55, as well as $1.80, while support is found at $1.35–$1.40. Darkfost compared the current situation to April 2025, when similar funding trends preceded a 126% surge from $1.25, although the current price behavior appears more cautious. The ongoing negative funding reflects a defensive mindset following early-year altcoin volatility and XRP's sideways trend since its early 2026 peak, even after Ripple's SEC lawsuit concluded last year.