On-chain analyst Darkpost stated that Binance's XRP perpetual futures funding rate has consistently remained negative since the beginning of this year, indicating an excessively bearish sentiment. He said, "Positions betting on a decline in XRP have skewed to one side, suggesting a kind of consensus has formed across the market. When many people flock to the same position, the price structure becomes asymmetrical, and such a consensus often forms belatedly. In particular, even with XRP currently down 60%, betting on further declines is more prevalent than expectations for a rebound. In the past, there have been many cases where, after an extreme psychological structure formed, the market moved in the opposite direction. Indeed, under similar conditions, XRP previously surged 127%, from approximately $1.6 to $3.6," he explained.
