XRP News Today: Crypto Market Sentiment Remains Bearish With Funding Rates Below 0.005%

The current funding rates on mainstream centralized exchanges (CEX) and decentralized exchanges (DEX) indicate that the market sentiment remains bearish. The funding rate is a mechanism used by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, typically applied to perpetual contracts. It serves as a fee for the exchange of funds between long and short traders, with the trading platform not charging this fee. The funding rate adjusts the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.

When the funding rate is 0.01%, it represents the baseline rate. A funding rate greater than 0.01% indicates a generally bullish market, while a funding rate less than 0.005% suggests a bearish market. This trend is evident across various cryptocurrencies, with several assets experiencing significant price drops. For example, Celestia (TIA) has seen a 9% intraday drop, trading at approximately $1.45, which shows extreme bearishness and an unlikely recovery in the near term. Similarly, XRP has taken a bearish hit to its price following the news of a stalled SEC settlement, with the asset trading around $2.15. The negative funding rate for XRP's perpetual contracts further supports the bearish outlook, as it suggests that short positions are dominant. This bearish sentiment has persisted through the weekend and into Monday, with all cryptocurrencies reflecting this trend. The chart patterns also confirm a strong downtrend, with labeling errors such as "Bullish" in a bearish trend further highlighting the market's current state. The live prices of various cryptocurrencies, such as Stellar (XLM) at $0.2369 and Waves (WAVES) at $0.9531, also reflect this bearish trend, with Waves experiencing a 3.24% drop in the last 24 hours. Overall, the market sentiment remains bearish, with funding rates and price movements indicating a continued downtrend.