Binance’s XRP perpetual futures market has turned moderately bullish as key funding metrics moved back into positive territory after a period dominated by short sellers. According to data from CryptoQuant, the XRP funding rate on Binance rose to 0.00138 and the 30-day Funding Rate Z-Score reached 0.21, both crossing above zero. This shift indicates that long traders are gradually regaining confidence, though positioning remains far from overheated levels.
Analyst Arab Chain from CryptoQuant noted that the simultaneous move above zero reflects improving sentiment across Binance’s derivatives market. Funding rates are periodic payments between long and short perpetual contract traders—positive rates mean longs pay shorts, signaling stronger demand for bullish positions. The Z-Score compares the current funding rate to its 30-day average, highlighting whether positioning has deviated from normal ranges. Earlier in 2026, the Z-Score remained negative for several weeks, especially in late April and May, showing that short sellers held the advantage.
Despite the recent improvement, the 0.21 Z-Score remains close to neutral, suggesting that long positions have not reached excessive speculative levels. This moderate positive funding is seen as healthier market condition—traders are building long exposure without creating crowded trades that often lead to large liquidation events. Room remains for additional buying activity if demand continues to strengthen. However, CryptoQuant cautioned that a return to negative territory could signal renewed selling pressure from shorts, increasing downside risk for XRP’s price.
