XRP's 30-day cumulative funding rate on Binance has reached its highest level since October 2025, even though the token lost around 30% in its recent correction. Meanwhile, spot XRP ETFs recorded approximately $10.4 million in net outflows. CryptoQuant analyst Darkfost warned that similar readings have appeared near price peaks before.
Binance traders are keeping bullish bets on XRP while the price slides. CryptoQuant analyst Darkfost said in a November 10 assessment that the 30-day cumulative funding rate for XRP perpetual futures had reached approximately 0.18%, a level last seen in October 2025.
The reading comes after XRP lost around 30% during its recent correction, yet derivatives traders have continued to favor long positions.
Funding rates climb back from negative territory
The chart Darkfost shared shows the cumulative rate fell below negative 0.20% by March, and another period of deeply negative funding followed between May and July. Since then, the indicator has recovered considerably.
Darkfost also highlighted XRP's summer rally, when the token rebounded 53% after falling to approximately $0.70. Funding rates began recovering during that rally, but the strongest improvement in sentiment came after XRP had already made substantial gains.
Darkfost noted that periods of strongly positive funding often coincided with price peaks, while negative readings appeared near market bottoms. The pattern does not establish that another reversal will occur, but the analyst warned that crowded bullish positioning can leave traders vulnerable when prices move against them.
Spot XRP ETFs post $10.4 million in net outflows
At the same time, spot XRP ETFs recorded approximately $10.4 million in net outflows, equal to 9.37 million XRP. Darkfost described the session as one of the weakest for the products this year.
The withdrawals followed an uneven October. US spot XRP ETFs ended a 13-week inflow streak with $1.84 million in net withdrawals during the October 12-16 trading week, though the funds still attracted $18.83 million across the month.
Darkfost said cumulative funding rates and ETF flows are both worth monitoring when assessing potential entry points. Derivatives sentiment can remain bullish even after prices have begun to decline, the analyst said.
Source: crypto.news
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