Ripple’s XRP took a sharp turn downward, shedding over 4% in value amid a significant drop in funding rates across major exchanges. The cryptocurrency, which had shown signs of stability in recent sessions, faced renewed selling pressure as sentiment among leveraged traders soured. Analysts suggest the decline in funding rates indicates a shift in market confidence, with bearish sentiment intensifying.
This latest setback underscores the volatility plaguing XRP, which has struggled to maintain upward momentum despite broader crypto market recovery efforts. Investors are now eyeing key support levels, with market watchers warning that a prolonged dip in funding rates could amplify selling pressure further. Ripple’s ongoing legal challenges and regulatory uncertainties add another layer of complexity to XRP’s outlook.
