Recent data highlights that XRP and Ethereum (ETH) hold the highest funding rates among top cryptocurrencies, signaling strong demand for long positions in the derivatives market. According to analytics from Glassnode and other sources, the funding rates for XRP and ETH have risen sharply into positive territory, indicating a bullish bias despite mixed on-chain metrics and a decline in active user addresses.
The funding rate reflects the periodic fees traders pay on perpetual futures contracts, where a positive rate means long traders pay short traders a premium, suggesting confidence in upward price movement. XRP's funding rate is reported at about 0.093%, and ETH’s at approximately 0.083%, far exceeding that of other major altcoins like Tron (TRX) at 0.0052%.
Additional data reflects that while daily active addresses for both XRP and ETH decreased significantly—down 34.3% for XRP and 11.4% for ETH—the on-chain transaction volumes surged markedly, suggesting that fewer users are conducting more activity. XRP’s supply in profit stands at 79.5%, and ETH’s at 64.7%, showing a strong but not extreme bullish distribution compared to tokens like Bitcoin.
Meanwhile, as Bitcoin (BTC) enters its traditionally weak third quarter with roughly flat price action around $107,000, XRP, Tron (TRX), and Dogecoin (DOGE) exhibit the strongest perpetual futures funding rates, implying heightened bullish sentiment in their markets. XRP’s annualized funding rate is near 11%, followed closely by TRX at 10% and DOGE at 8.4%, while BTC and ETH show only marginally positive rates.
This increased appetite for bullish exposure in XRP futures occurs despite delays in Ripple’s regulatory settlement with the SEC. Market analysts expect critical market movements may erupt soon, with attention on upcoming U.S. Federal Reserve updates and employment data releases.