XRP’s Funding Rates: A Bearish Pity Party or a Bullish Hangover Cure?

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Oh, XRP, you poor thing. Your derivatives markets are throwing a pity party, and everyone’s invited-except the bulls, apparently. Funding rates across major exchanges have taken a nosedive into negative territory, like a guest who’s had one too many at a wedding and ends up face-first in the cake. According to real-time data, these rates have been sulking below zero, hitting a low of -0.0748%. It’s the financial equivalent of a teenager slamming their bedroom door and muttering, “No one understands me!”

Meanwhile, open interest has slunk back to levels not seen since it was cool to wear bell-bottoms and disco was still a thing (metaphorically speaking, of course). The question on everyone’s mind: Is this the bottom of the barrel, or is XRP just getting comfortable in its own personal swamp of despair? Only time-and possibly a therapist-will tell.

Bearish Derivatives: The Financial Version of a Rainy Day

Coinglass, the nosy neighbor of the crypto world, has been peeking through the blinds and reports that XRP’s average funding rates are more negative than a cat who’s just been told it’s bath time. The lowest funding rate observed is -0.0748%, which is basically the market’s way of saying, “Shorts, you’re in charge now. Have fun!” Negative funding rates mean shorts are paying longs, like a begrudging roommate who finally coughs up their share of the rent. But here’s the kicker: heavily negative funding can sometimes be the market’s way of setting a trap. If the price stabilizes, those shorts might find themselves in a game of financial musical chairs-and they’re the ones left standing.

XRP funding rates chart, because who doesn’t love a good graph?

Crypto analyst Osemka, who apparently has nothing better to do than stare at charts all day, posted on X (formerly known as Twitter, because why not add more confusion to the world?) that XRP’s aggregated funding rate is in such deep negative territory, it’s practically digging for oil. This metric is at its lowest since late 2022, just before the FTX crash made everyone question their life choices. But here’s the silver lining: back then, this negativity marked a bottom. So, is history repeating itself, or is XRP just really committed to its emo phase?

Open Interest: Back to the Basement

Open interest has also taken a nosedive, like a guest who realizes the party is lame and leaves early. It’s now sitting at levels associated with multi-year accumulation bases, which is just a fancy way of saying, “We’ve been here before, and it wasn’t fun then either.” Every time open interest has revisited this zone, it’s been followed by a rebound, like a bad breakup followed by a rebound relationship. Will this time be different? Probably not, but hope springs eternal.

Price-wise, XRP is floundering like a fish out of water, struggling to find a bottom in a market that’s about as bullish as a grumpy cat. It needs to hold above $1.45, where recent daily candles have been leaving wicks like a trail of breadcrumbs. Below that lies a larger demand area between $1.15 and $1.30, which is basically the financial equivalent of a safety net made of tissue paper. At $1.49, XRP is teetering on the edge, though it briefly flirted with $1.60 earlier in the week. A weekly close above $1.50 would be the first step toward a bullish comeback, but let’s not hold our breath-XRP has a knack for drama.

XRP price chart, because nothing says ‘fun’ like a rollercoaster of despair.

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2026-02-19 01:34