XRP dives over 4%, eyes $2.17 as funding rates flash negative
- XRP funding rates’ decline suggests rising caution among investors as the crypto market correction extends.
- Spot traders have managed to soak up the selling pressure with net outflows across Binance, OKX, Kraken and Bybit.
- XRP could decline to find support near $2.17 after posting a double-top pattern in the recent market decline.
Ripple’s XRP declined 4% on Friday following a decline in its funding rates. The remittance-based token could decline to test the $2.17 support level if the crypto market decline extends.
XRP funding rates decline as spot traders attempt to weather selling pressure
XRP’s funding rate briefly flipped negative in the past 24 hours and is well below the stable 0.01% level following…
