Ripple Defends Key Support, Stellar Awaits Breakout as Derivatives Strengthen
Ripple (XRP) and Stellar (XLM) are showing divergent technical outlooks, with XRP defending its key support zone while XLM awaits a breakout.
The recent weakness in both tokens has sparked interest among traders, who are assessing whether it could give way to a recovery. Derivatives metrics suggest that market positioning is shifting toward a potential short-term rebound.
The long-to-short ratios for XRP and XLM on Thursday were 1.15 and 1.09, respectively, nearing their highest levels in a month. A ratio above one indicates bullish sentiment among traders, as they bet asset prices will rise.
XRP's funding rate flipped positive on Saturday and read 0.0097% on Thursday, indicating that longs are paying shorts and reflecting a bullish bias. Similarly, the XLM funding rate flipped positive on Wednesday and read 0.0100% on Thursday, reflecting a bullish outlook.