XRP Defies Bearish Pressure with Continued Accumulation and Positive Funding Rate
Ripple's [XRP] recent surge in value has raised concerns among investors due to excessive short-selling volume. According to CryptoQaunt, the Spot Cumulative Volume Delta grew from -$2.27 billion to roughly -$2.70 billion between September 16th and 27th, indicating a significant increase in short-selling activity.
However, this bearish presence has been countered by the Spot investors' accumulation of XRP. The Spot netflow, tracked by CoinGlass, shows that more capital has flowed out of exchanges into private wallets over the past week, suggesting long-term holding intentions.
The Funding Rate in the perpetual market has also remained positive, with a growth from 0.0062 to 0.0081 since September 16th. This indicates that the majority of the capital is positioned in favor of long positions, supporting XRP's bullish outlook.