XRP traders are paying the highest funding rates among top tokens. It’s a clear signal of aggressive bullish bets even as Bitcoin drifts into a historically weak quarter.
The third quarter may be historically slow for crypto, but XRP (XRP-USD) is already tearing through that narrative.
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While Bitcoin sits flat around $107,000, kicking off what is usually its weakest quarter, funding rates across the altcoin space are sending a very different signal. And right now, no major coin is flashing stronger bullish appetite than XRP.
XRP Shows the Strongest Appetite for Longs
Funding rates for perpetual futures are often one of the clearest indicators of leverage-driven sentiment. The higher the rate, the more traders are paying to stay long — and this week, XRP tops the list with a nearly 11% annualized funding rate, according to data from Velo.
That puts it ahead of TRX at 10% and DOGE at 8.4%, with Bitcoin and Ether trailing far behind at near-flat levels. In other words, the XRP perps market is where the bulls are biting hardest, and they’re paying a premium to hold those bets.
The demand surge is happening even as the legal standoff between Ripple and the SEC drags on, a sign that the market is starting to look past regulatory drama and price in long-term momentum.
Altcoin Bulls Charge as Bitcoin Stalls
This isn’t just about XRP. It’s a broader altcoin moment, sparked by a growing divergence in trader behavior.
Bitcoin’s funding rates are slightly positive, but the asset itself remains locked in a tight range between $100K and $110K, stuck for nearly 50 days now. Q3 has historically underperformed for BTC, averaging just a 5.57% gain since 2013, according to Coinglass.
Meanwhile, newer money is hunting elsewhere. Perpetuals tied to privacy token Monero (XMR-USD) saw funding rates spike over 23%, while Stellar’s XLM (XLM-USD) showed a negative 24% funding rate — indicating heavy short positioning.
This is the classic rotation: when Bitcoin goes quiet, altcoins take the stage. And right now, XRP is leading the charge.
Traders are zeroing in on Jerome Powell’s upcoming speech and Friday’s jobs report, both of which could be the catalyst that ends Bitcoin’s sideways drift. But XRP traders aren’t waiting for the Fed. They’re already positioning for upside.
XRP’s rising funding rate shows the market is still confident a breakout is coming even if it’s been delayed.
