Arab Chain
XRP Long Momentum Improves as Z-Score Stays Positive on Binance
The funding rate data for XRP contracts on Binance indicates a return of positive momentum in the perpetual contracts market following the volatility seen in the second half of July. The funding rate reached approximately 0.00138, while the 30-day Z-Score registered 0.21, reflecting a slight move in the funding rate above its recent average. Prior to the current reading, the funding rate experienced a sharp decline into negative territory, suggesting a temporary shift in traders' positioning toward short positions. However, its return to 0.00138, coupled with the Z-Score rising back above zero, indicates that long positions are regaining some momentum following the recent downward trend. Nevertheless, the current Z-Score reading of 0.21 remains close to the neutral level and does not indicate overextension or excessive speculation in long positions. This suggests that the derivatives market is currently tilted slightly in favor of buyers, without showing signs of extreme positioning. the data indicates an improvement in sentiment among XRP traders on Binance. A continued rise in the funding rate and Z-Score could signal an expansion in buying momentum, while a return to negative readings could indicate renewed pressure from short positions.